Benchmark Issues Positive Forecast for Roku (NASDAQ:ROKU) Stock Price

Roku (NASDAQ:ROKU) had its price target upped by research analysts at Benchmark from $100.00 to $130.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s target price indicates a potential upside of 31.93% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Wedbush reaffirmed an “outperform” rating and set a $100.00 price target on shares of Roku in a research note on Monday. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of Roku in a report on Tuesday, January 7th. UBS Group started coverage on Roku in a research report on Friday, November 22nd. They issued a “neutral” rating and a $73.00 price objective for the company. Robert W. Baird upgraded Roku from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $70.00 to $90.00 in a research report on Monday, November 18th. Finally, Baird R W upgraded Roku from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $92.41.

Roku Price Performance

ROKU traded up $11.74 during trading on Friday, reaching $98.54. 14,009,421 shares of the stock were exchanged, compared to its average volume of 3,547,656. The company has a market capitalization of $14.31 billion, a price-to-earnings ratio of -81.97 and a beta of 2.05. Roku has a 1 year low of $48.33 and a 1 year high of $104.96. The business’s 50 day moving average price is $80.17 and its two-hundred day moving average price is $73.28.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.20. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. On average, analysts anticipate that Roku will post -1.09 EPS for the current year.

Insider Activity

In other Roku news, CAO Matthew C. Banks sold 8,693 shares of Roku stock in a transaction on Monday, November 18th. The stock was sold at an average price of $71.44, for a total transaction of $621,027.92. Following the sale, the chief accounting officer now owns 7,264 shares of the company’s stock, valued at $518,940.16. The trade was a 54.48 % 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 stock in a transaction on Monday, February 10th. The stock was sold at an average price of $87.93, for a total value of $2,198,250.00. Following the completion of the transaction, the chief executive officer now directly owns 26,538 shares of the company’s stock, valued at approximately $2,333,486.34. The trade was a 48.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 97,885 shares of company stock worth $7,911,162. 13.98% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Roku

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Credit Industriel ET Commercial acquired a new stake in shares of Roku in the 4th quarter worth approximately $301,000. Integrated Wealth Concepts LLC boosted its stake in Roku by 34.0% during the 4th quarter. Integrated Wealth Concepts LLC now owns 27,986 shares of the company’s stock valued at $2,080,000 after purchasing an additional 7,096 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of Roku by 10.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,269,751 shares of the company’s stock valued at $168,734,000 after purchasing an additional 215,841 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Roku by 7.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 85,071 shares of the company’s stock worth $6,325,000 after buying an additional 5,809 shares in the last quarter. Finally, Stifel Financial Corp lifted its holdings in shares of Roku by 6.4% in the fourth quarter. Stifel Financial Corp now owns 27,048 shares of the company’s stock valued at $2,011,000 after buying an additional 1,632 shares during the period. Institutional investors own 86.30% of the company’s stock.

About Roku

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.