Piper Sandler Increases Roku (NASDAQ:ROKU) Price Target to $75.00

Roku (NASDAQ:ROKU) had its price target lifted by Piper Sandler from $60.00 to $75.00 in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research firms also recently issued reports on ROKU. Benchmark reiterated a “buy” rating and set a $105.00 price target on shares of Roku in a research note on Thursday, September 12th. Guggenheim raised Roku from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Friday, August 23rd. Morgan Stanley boosted their price objective on shares of Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 29th. Wells Fargo & Company upgraded shares of Roku from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $50.00 to $72.00 in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Two 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. Based on data from MarketBeat.com, Roku currently has a consensus rating of “Hold” and an average target price of $83.95.

Roku Stock Performance

Shares of NASDAQ ROKU opened at $65.70 on Thursday. The business has a 50 day simple moving average of $73.22 and a 200 day simple moving average of $63.79. Roku has a 52 week low of $48.33 and a 52 week high of $108.84. The stock has a market cap of $9.51 billion, a price-to-earnings ratio of -54.75 and a beta of 2.07.

Roku (NASDAQ:ROKU) last posted its earnings results on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.29. The company had revenue of $1.06 billion during 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 company’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 posted ($2.33) earnings per share. On average, analysts predict that Roku will post -1.41 EPS for the current year.

Insider Activity at Roku

In other news, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total value of $109,012.27. Following the completion of the transaction, the insider now owns 38,602 shares in the company, valued at approximately $2,485,582.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Anthony J. Wood sold 25,000 shares of the firm’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 value of $1,875,000.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Gilbert Fuchsberg sold 1,693 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total value of $109,012.27. Following the transaction, the insider now directly owns 38,602 shares in the company, valued at approximately $2,485,582.78. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,566 shares of company stock valued at $5,254,000 in the last ninety days. Insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC acquired a new position in Roku in the third quarter valued at approximately $274,000. United Advisor Group LLC bought a new stake in shares of Roku during the 3rd quarter valued at $1,068,000. QRG Capital Management Inc. acquired a new position in shares of Roku in the 3rd quarter valued at $214,000. Harbor Capital Advisors Inc. boosted its position in shares of Roku by 6.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 8,806 shares of the company’s stock worth $657,000 after purchasing an additional 524 shares during the last quarter. Finally, US Bancorp DE grew its stake in shares of 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 period. 86.30% of the stock is owned by institutional investors.

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.