Loop Capital Boosts Roku (NASDAQ:ROKU) Price Target to $70.00

Roku (NASDAQ:ROKU) had its price target raised by Loop Capital from $65.00 to $70.00 in a research report report published on Thursday morning, Benzinga reports. Loop Capital currently has a hold rating on the stock.

Other analysts have also recently issued research reports about the company. Wells Fargo & Company raised Roku from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $50.00 to $72.00 in a research report on Thursday, September 5th. Morgan Stanley boosted their price target on Roku from $60.00 to $65.00 and gave the company an “underweight” rating in a research note on Tuesday. Moffett Nathanson upgraded shares of Roku from a “sell” rating to a “neutral” rating and set a $80.00 target price for the company in a research note on Tuesday, October 1st. Citigroup boosted their target price on shares of Roku from $60.00 to $77.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Finally, Wedbush raised their price target on shares of Roku from $75.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Roku has an average rating of “Hold” and an average price target of $83.71.

Roku Stock Up 1.6 %

Shares of ROKU stock traded up $1.05 during trading hours on Thursday, reaching $65.13. 2,641,623 shares of the stock traded hands, compared to its average volume of 4,415,602. The business has a fifty day moving average price of $73.29 and a 200 day moving average price of $63.66. Roku has a 1-year low of $48.33 and a 1-year high of $108.84. The firm has a market capitalization of $9.42 billion, a PE ratio of -53.40 and a beta of 2.08.

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

Insider Activity at Roku

In other news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the transaction, the chief executive officer now directly owns 5,020 shares in the company, valued at approximately $376,500. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.25, for a total transaction of $76,250.00. Following the transaction, the chief financial officer now owns 53,267 shares in the company, valued at $4,061,608.75. The trade was a 0.00 % decrease in their position. The transaction 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 that occurred on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,566 shares of company stock worth $5,254,000. 13.98% of the stock is owned by insiders.

Institutional Trading of Roku

A number of institutional investors have recently modified their holdings of the company. Future Financial Wealth Managment LLC acquired a new stake in Roku in the 3rd quarter valued at approximately $43,000. EverSource Wealth Advisors LLC raised its holdings in shares of Roku by 123.4% in the second quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock valued at $40,000 after purchasing an additional 375 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Roku by 835.6% in the first 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 shares of Roku in the second quarter worth $48,000. Finally, Natixis bought a new position in Roku in the first quarter valued at $53,000. 86.30% of the stock is currently owned by institutional investors.

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.