Wedbush Boosts Roku (NASDAQ:ROKU) Price Target to $85.00

Roku (NASDAQ:ROKU) had its target price lifted by analysts at Wedbush from $75.00 to $85.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s price objective would indicate a potential upside of 12.40% from the stock’s previous close.

ROKU has been the subject of several other reports. JPMorgan Chase & Co. increased their target price on Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Roku in a report on Tuesday. Rosenblatt Securities dropped their target price on shares of Roku from $89.00 to $61.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Benchmark reaffirmed a “buy” rating and issued a $105.00 price target on shares of Roku in a research note on Thursday, September 12th. Finally, Wolfe Research upgraded Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price target on the stock in a research note on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Roku presently has a consensus rating of “Hold” and a consensus price target of $82.30.

Roku Price Performance

Shares of Roku stock traded up $1.58 during trading hours on Friday, reaching $75.62. The company had a trading volume of 937,760 shares, compared to its average volume of 4,342,678. Roku has a one year low of $48.33 and a one year high of $108.84. The firm has a market cap of $10.90 billion, a PE ratio of -18.95 and a beta of 2.08. The business has a fifty day simple moving average of $72.04 and a 200 day simple moving average of $63.22.

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

Insider Transactions at Roku

In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of the firm’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 completion of the sale, the insider now directly owns 38,602 shares of the company’s stock, valued at $2,485,582.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Gilbert Fuchsberg sold 1,693 shares of the firm’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 completion of the sale, the insider now owns 38,602 shares in the company, valued at $2,485,582.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total transaction of $75,330.00. Following the sale, the chief financial officer now directly owns 54,267 shares in the company, valued at approximately $4,087,933.11. The trade was a 0.00 % decrease in their position. 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 ninety days. Insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

A number of institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its position in Roku by 123.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock valued at $40,000 after acquiring an additional 375 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of Roku in the third quarter valued at $43,000. Geneos Wealth Management Inc. grew its position in shares of Roku by 835.6% during the first quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock worth $45,000 after buying an additional 610 shares in the last quarter. Cedar Wealth Management LLC acquired a new position in Roku during the 2nd quarter worth approximately $48,000. Finally, Natixis purchased a new stake in shares of Roku during the 1st quarter worth $53,000. 86.30% of the stock is owned by institutional investors and hedge funds.

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.