Roku (NASDAQ:ROKU) Price Target Raised to $65.00 at Morgan Stanley

Roku (NASDAQ:ROKU) had its price objective upped by Morgan Stanley from $60.00 to $65.00 in a research note published on Tuesday morning, Benzinga reports. They currently have an underweight rating on the stock.

A number of other brokerages also recently issued reports on ROKU. Citigroup upped their price objective on Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Bank of America raised their price target on Roku from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price objective on shares of Roku in a research report on Tuesday, October 22nd. Robert W. Baird increased their target price on shares of Roku from $56.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, September 30th. Finally, Wolfe Research raised shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price target for the company in a research note on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $83.95.

Roku Stock Performance

ROKU stock opened at $65.70 on Tuesday. The firm has a fifty day moving average price of $73.29 and a 200 day moving average price of $63.66. Roku has a fifty-two week low of $48.33 and a fifty-two week high of $108.84. The firm has a market cap of $9.51 billion, a PE ratio of -54.75 and a beta of 2.08.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.29. Roku had a negative net margin of 4.42% and a negative return on equity of 7.30%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the company posted ($2.33) EPS. The business’s revenue was up 16.5% on a year-over-year basis. On average, equities analysts predict that Roku will post -1.41 EPS for the current year.

Insider Activity

In related news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $77.20, for a total transaction of $1,930,000.00. Following the sale, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at approximately $387,544. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $77.20, for a total value of $1,930,000.00. Following the completion of the transaction, the chief executive officer now owns 5,020 shares in the company, valued at approximately $387,544. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total value of $75,330.00. Following the sale, the chief financial officer now owns 54,267 shares in the company, valued at $4,087,933.11. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,566 shares of company stock valued at $5,254,000 in the last three months. 13.98% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ROKU. Allspring Global Investments Holdings LLC increased its holdings in Roku by 243.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,045 shares of the company’s stock worth $133,000 after acquiring an additional 1,449 shares in the last quarter. Azzad Asset Management Inc. ADV lifted its holdings in Roku by 21.4% during the first quarter. Azzad Asset Management Inc. ADV now owns 5,485 shares of the company’s stock valued at $357,000 after purchasing an additional 968 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Roku by 30.0% in the first quarter. Principal Financial Group Inc. now owns 10,889 shares of the company’s stock valued at $710,000 after purchasing an additional 2,512 shares during the period. Private Advisor Group LLC increased its stake in shares of Roku by 65.5% during the first quarter. Private Advisor Group LLC now owns 22,305 shares of the company’s stock worth $1,454,000 after purchasing an additional 8,824 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in shares of Roku by 206.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 26,925 shares of the company’s stock worth $1,755,000 after purchasing an additional 18,146 shares during the last quarter. 86.30% of the stock is owned by institutional investors and hedge funds.

Roku Company Profile

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.