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

Roku (NASDAQ:ROKU) had its target price hoisted by research analysts at Rosenblatt Securities from $61.00 to $86.00 in a report released on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Rosenblatt Securities’ price target would indicate a potential upside of 10.95% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Benchmark reissued a “buy” rating and issued a $105.00 price objective on shares of Roku in a research report on Thursday, September 12th. Guggenheim upgraded Roku from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Friday, August 23rd. Citigroup increased their target price on Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Moffett Nathanson upgraded Roku from a “sell” rating to a “neutral” rating and set a $80.00 price objective for the company in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $83.80.

Roku Stock Up 1.4 %

Shares of NASDAQ:ROKU opened at $77.51 on Thursday. The stock’s 50 day moving average is $72.95 and its 200-day moving average is $63.56. Roku has a twelve month low of $48.33 and a twelve month high of $108.84. The firm has a market capitalization of $11.17 billion, a price-to-earnings ratio of -19.43 and a beta of 2.08.

Roku (NASDAQ:ROKU) last posted its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.29. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the company earned ($2.33) earnings per share. The company’s revenue for the quarter was up 16.5% on a year-over-year basis. Equities research analysts anticipate that Roku will post -1.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Roku

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the firm’s 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 completion of the sale, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at $376,500. 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 Roku news, insider Charles Collier sold 15,454 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,159,050.00. Following the sale, the insider now owns 200 shares in the company, valued at $15,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the transaction, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,566 shares of company stock worth $5,254,000. Corporate insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its position in shares of Roku by 243.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,045 shares of the company’s stock worth $133,000 after acquiring an additional 1,449 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Roku by 30.0% in the first quarter. Principal Financial Group Inc. now owns 10,889 shares of the company’s stock valued at $710,000 after purchasing an additional 2,512 shares in the last quarter. Private Advisor Group LLC increased its stake in Roku by 65.5% in the first quarter. Private Advisor Group LLC now owns 22,305 shares of the company’s stock valued at $1,454,000 after purchasing an additional 8,824 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Roku by 206.7% during the first quarter. Janney Montgomery Scott LLC now owns 26,925 shares of the company’s stock worth $1,755,000 after purchasing an additional 18,146 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Roku by 8.2% during the 1st quarter. Nordea Investment Management AB now owns 7,842 shares of the company’s stock worth $516,000 after buying an additional 595 shares during the last quarter. 86.30% of the stock is owned by hedge funds and other institutional investors.

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.