Roku (NASDAQ:ROKU) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Roku (NASDAQ:ROKU) had its price target raised by Morgan Stanley from $60.00 to $65.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an underweight rating on the stock.

Other equities analysts have also issued reports about the stock. Robert W. Baird increased their price target 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. Citigroup increased their target price on shares of Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Moffett Nathanson upgraded shares of Roku from a “sell” rating to a “neutral” rating and set a $80.00 price objective for the company in a research note on Tuesday, October 1st. JPMorgan Chase & Co. lifted their target price on Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, Bank of America upped their target price on Roku from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $83.71.

Roku Stock Performance

Shares of ROKU opened at $64.08 on Tuesday. The stock has a 50-day simple moving average of $73.24 and a 200-day simple moving average of $63.66. Roku has a 1 year low of $48.33 and a 1 year high of $108.84. The stock has a market capitalization of $9.24 billion, a PE ratio of -16.06 and a beta of 2.08.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results 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. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the firm earned ($2.33) earnings per share. The firm’s quarterly revenue was up 16.5% on a year-over-year basis. Analysts predict that Roku will post -1.43 EPS for the current year.

Insider Buying and Selling

In related news, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction on 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 transaction, the insider now directly owns 38,602 shares of the company’s stock, valued at approximately $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 can be accessed through this link. In related news, insider Gilbert Fuchsberg sold 1,693 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total value of $109,012.27. Following the sale, the insider now directly owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at approximately $376,500. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,566 shares of company stock worth $5,254,000 in the last quarter. Company insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Several hedge funds have recently made changes to their positions in ROKU. Concurrent Investment Advisors LLC acquired a new stake in Roku in the 3rd quarter worth about $274,000. United Advisor Group LLC purchased a new position in shares of Roku during the 3rd quarter worth about $1,068,000. QRG Capital Management Inc. acquired a new stake in shares of Roku in the third quarter worth approximately $214,000. Harbor Capital Advisors Inc. grew its holdings in Roku by 6.3% in the third quarter. Harbor Capital Advisors Inc. now owns 8,806 shares of the company’s stock valued at $657,000 after purchasing an additional 524 shares during the period. Finally, US Bancorp DE increased its position in Roku by 15.7% during the third quarter. US Bancorp DE now owns 3,090 shares of the company’s stock worth $231,000 after purchasing an additional 420 shares during the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

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.