UBS Group Raises Roku (NASDAQ:ROKU) Price Target to $90.00

Roku (NASDAQ:ROKU) had its price objective upped by equities research analysts at UBS Group from $73.00 to $90.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price target indicates a potential downside of 9.16% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. raised their target price on Roku from $92.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday. Loop Capital boosted their target price on shares of Roku from $70.00 to $80.00 and gave the company a “hold” rating in a report on Monday, December 9th. Piper Sandler increased their price target on shares of Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Needham & Company LLC reissued a “buy” rating and set a $100.00 price objective on shares of Roku in a research note on Tuesday, January 7th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $86.00 target price on shares of Roku in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Roku has an average rating of “Moderate Buy” and a consensus target price of $93.18.

Roku Stock Up 14.1 %

Shares of ROKU stock opened at $99.07 on Friday. The firm has a market capitalization of $14.38 billion, a price-to-earnings ratio of -82.56 and a beta of 2.05. The stock has a fifty day moving average of $80.56 and a 200 day moving average of $73.76. Roku has a 52 week low of $48.33 and a 52 week high of $104.96.

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.20. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.15 billion. Equities research analysts anticipate that Roku will post -1.09 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Matthew C. Banks sold 8,693 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $71.44, for a total value of $621,027.92. Following the transaction, the chief accounting officer now owns 7,264 shares in the company, valued at $518,940.16. This represents a 54.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $75.00, for a total transaction of $75,000.00. Following the sale, the chief financial officer now owns 65,555 shares of the company’s stock, valued at $4,916,625. This trade represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,885 shares of company stock worth $7,911,162. 13.98% of the stock is owned by insiders.

Institutional Investors Weigh In On Roku

A number of hedge funds have recently modified their holdings of the business. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in Roku by 43.3% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 13,739 shares of the company’s stock valued at $1,026,000 after purchasing an additional 4,151 shares during the period. Cornerstone Wealth Management LLC purchased a new position in shares of Roku during the 3rd quarter valued at about $212,000. Richard W. Paul & Associates LLC grew its stake in shares of Roku by 27.3% during the 3rd quarter. Richard W. Paul & Associates LLC now owns 15,820 shares of the company’s stock valued at $1,181,000 after acquiring an additional 3,395 shares during the period. Blue Trust Inc. increased its holdings in Roku by 227.7% in the 3rd quarter. Blue Trust Inc. now owns 8,494 shares of the company’s stock worth $634,000 after acquiring an additional 5,902 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Roku by 11.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,207 shares of the company’s stock worth $165,000 after acquiring an additional 222 shares during the period. Institutional investors 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.