Rosenblatt Securities Issues Positive Forecast for Roku (NASDAQ:ROKU) Stock Price

Roku (NASDAQ:ROKU) had its target price increased by Rosenblatt Securities from $61.00 to $86.00 in a research note published on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities research analysts have also commented on ROKU. Morgan Stanley increased their price objective on shares of Roku from $60.00 to $65.00 and gave the company an “underweight” rating in a research note on Tuesday. Wolfe Research upgraded Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price target on the stock in a report on Thursday, September 12th. Citigroup upped their price objective on Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Wedbush raised their price objective on shares of Roku from $75.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, Bank of America raised their price target on shares of Roku from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Roku presently has an average rating of “Hold” and an average price target of $83.71.

Roku Trading Up 1.7 %

Shares of NASDAQ:ROKU traded up $1.08 during mid-day trading on Thursday, hitting $65.16. 2,906,171 shares of the company traded hands, compared to its average volume of 4,416,850. The stock has a market cap of $9.43 billion, a P/E ratio of -53.40 and a beta of 2.08. The stock has a 50-day moving average price of $73.29 and a two-hundred day moving average price of $63.66. Roku has a 12-month low of $48.33 and a 12-month high of $108.84.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.29. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. Roku had a negative net margin of 4.42% and a negative return on equity of 7.30%. The business’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($2.33) EPS. As a group, analysts expect that Roku will post -1.41 earnings per share for the current year.

Insider Activity at Roku

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the sale, the chief executive officer now owns 5,020 shares of the company’s stock, valued at $376,500. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total transaction of $109,012.27. Following the completion of the sale, the insider now owns 38,602 shares of the company’s stock, valued at $2,485,582.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the transaction, the chief executive officer now owns 5,020 shares of the company’s stock, valued at $376,500. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,566 shares of company stock valued at $5,254,000. Company insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

A number of hedge funds have recently bought and sold shares of the company. Future Financial Wealth Managment LLC bought a new position in Roku during the third quarter valued at approximately $43,000. EverSource Wealth Advisors LLC boosted its stake in shares of Roku by 123.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock valued at $40,000 after purchasing an additional 375 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Roku by 835.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock valued at $45,000 after purchasing an additional 610 shares during the last quarter. Cedar Wealth Management LLC bought a new stake in Roku in the second quarter worth $48,000. Finally, Natixis bought a new position in shares of Roku during the first quarter valued at about $53,000. Institutional investors own 86.30% of the company’s stock.

About Roku

Roku, Inc, together with its subsidiaries, operates a TV streaming platform in the United states and internationally. The company operates in two segments, Platform and Devices. Its streaming platform allows users to find and access TV shows, movies, news, sports, and others. The Platform segment offers digital advertising, including direct and programmatic video advertising, media and entertainment promotional spending, and related services; and streaming services distribution, such as subscription and transaction revenue shares, and sale of premium subscriptions and branded app buttons on remote controls.