Roku (NASDAQ:ROKU) PT Raised to $75.00 at Robert W. Baird

Roku (NASDAQ:ROKU) had its price objective hoisted by equities research analysts at Robert W. Baird from $56.00 to $75.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s price objective indicates a potential upside of 0.89% from the company’s current price.

Several other brokerages have also recently commented on ROKU. Wolfe Research upgraded Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a report on Thursday, September 12th. Guggenheim raised Roku from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Friday, August 23rd. Citigroup lifted their target price on Roku from $60.00 to $77.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Bank of America lifted their price objective on shares of Roku from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Monday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Roku from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Roku currently has a consensus rating of “Hold” and a consensus target price of $80.29.

Roku Price Performance

NASDAQ ROKU opened at $74.34 on Monday. Roku has a twelve month low of $48.33 and a twelve month high of $108.84. The business’s fifty day moving average is $64.68 and its 200 day moving average is $61.58.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.21. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The business had revenue of $968.18 million for the quarter, compared to the consensus estimate of $937.78 million. During the same period last year, the company earned ($0.76) EPS. The firm’s revenue was up 14.3% compared to the same quarter last year. Equities research analysts forecast that Roku will post -1.44 EPS for the current year.

Insider Buying and Selling at Roku

In other news, insider Charles Collier sold 3,590 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $65.00, for a total value of $233,350.00. Following the completion of the sale, the insider now directly owns 12,064 shares in the company, valued at approximately $784,160. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total transaction of $75,330.00. Following the completion of the transaction, the chief financial officer now directly owns 54,267 shares of the company’s stock, valued at $4,087,933.11. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Charles Collier sold 3,590 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $65.00, for a total value of $233,350.00. Following the transaction, the insider now directly owns 12,064 shares of the company’s stock, valued at approximately $784,160. The disclosure for this sale can be found here. Insiders have sold 46,945 shares of company stock worth $3,465,135 over the last ninety days. Insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

A number of hedge funds and other institutional investors have recently made changes to their positions in ROKU. ARK Investment Management LLC raised its stake in Roku by 1.3% in the second quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock worth $762,096,000 after buying an additional 159,785 shares in the last quarter. Vanguard Group Inc. increased its position in Roku by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock valued at $778,560,000 after buying an additional 92,658 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Roku by 24.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock valued at $478,939,000 after buying an additional 1,457,925 shares during the last quarter. Nikko Asset Management Americas Inc. boosted its holdings in Roku by 25.8% in the first quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock worth $462,108,000 after acquiring an additional 1,455,408 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Roku by 5.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 500,794 shares of the company’s stock worth $30,013,000 after purchasing an additional 24,926 shares during the last quarter. 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.