Roku (NASDAQ:ROKU) PT Raised to $90.00 at Bank of America

Roku (NASDAQ:ROKU) had its target price raised by Bank of America from $75.00 to $90.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price objective suggests a potential upside of 21.07% from the company’s previous close.

Several other equities analysts have also weighed in on ROKU. Benchmark restated a “buy” rating and set a $105.00 target price on shares of Roku in a report on Thursday, September 12th. Wolfe Research raised shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price objective for the company in a research report on Thursday, September 12th. Rosenblatt Securities lowered their target price on Roku from $89.00 to $61.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Wells Fargo & Company raised Roku from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $50.00 to $72.00 in a report on Thursday, September 5th. Finally, Wedbush restated an “outperform” rating and set a $75.00 price objective on shares of Roku in a report on Friday, August 2nd. 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 company. According to data from MarketBeat.com, Roku has a consensus rating of “Hold” and an average price target of $80.29.

Roku Trading Down 0.4 %

Shares of ROKU stock opened at $74.34 on Monday. Roku has a 1-year low of $48.33 and a 1-year high of $108.84. The firm’s 50-day simple moving average is $64.68 and its 200-day simple moving average is $61.58.

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

Insiders Place Their Bets

In other news, insider Gilbert Fuchsberg sold 1,693 shares of the 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 completion of the sale, the insider now owns 38,602 shares in the company, valued at $2,485,582.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Gilbert Fuchsberg sold 1,693 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total transaction of $109,012.27. Following the transaction, the insider now directly owns 38,602 shares of the company’s stock, valued at $2,485,582.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the sale, the chief executive officer now owns 5,020 shares of the company’s stock, valued at $376,500. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,945 shares of company stock worth $3,465,135. Corporate insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

Institutional investors have recently bought and sold shares of the stock. ARK Investment Management LLC boosted its position in Roku by 1.3% during the second quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock worth $762,096,000 after purchasing an additional 159,785 shares during the period. Vanguard Group Inc. lifted its stake in shares of Roku by 0.8% in the first quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock worth $778,560,000 after buying an additional 92,658 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Roku by 24.7% in the 1st 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. grew its position in shares of Roku by 25.8% in the first quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock valued at $462,108,000 after purchasing an additional 1,455,408 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Roku by 5.2% in the second 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 period. 86.30% of the stock is currently 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.