Roku (NASDAQ:ROKU) Given New $120.00 Price Target at Bank of America

Roku (NASDAQ:ROKU) had its target price lifted by equities researchers at Bank of America from $90.00 to $120.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price objective indicates a potential upside of 38.25% from the company’s current price.

ROKU has been the topic of several other reports. 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 note on Friday, November 22nd. They issued a “neutral” rating and a $73.00 target price on the stock. Robert W. Baird upgraded Roku from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $70.00 to $90.00 in a research report on Monday, November 18th. Moffett Nathanson cut shares of Roku from a “neutral” rating to a “sell” rating and set a $55.00 price target on the stock. in a report on Friday, January 10th. Finally, Jefferies Financial Group decreased their price objective on shares of Roku from $60.00 to $55.00 and set an “underperform” rating for the company in a report on Friday, November 1st. Three research analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $89.32.

Roku Stock Up 2.4 %

Shares of ROKU opened at $86.80 on Friday. Roku has a 52-week low of $48.33 and a 52-week high of $95.17. The company has a market cap of $12.60 billion, a PE ratio of -72.33 and a beta of 2.05. The business has a fifty day moving average of $80.17 and a 200 day moving average of $73.28.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, topping 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%. As a group, research analysts anticipate that Roku will post -1.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Matthew C. Banks sold 8,693 shares of Roku stock in a transaction on Monday, November 18th. The shares were sold at an average price of $71.44, for a total transaction of $621,027.92. Following the completion of the sale, the chief accounting officer now directly owns 7,264 shares in the company, valued at approximately $518,940.16. The trade was a 54.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Charles Collier sold 10,771 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $71.14, for a total transaction of $766,248.94. Following the sale, the insider now directly owns 3,790 shares in the company, valued at $269,620.60. This trade represents a 73.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,885 shares of company stock worth $7,911,162 in the last ninety days. 13.98% of the stock is owned by insiders.

Institutional Trading of Roku

Large investors have recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Roku by 31.7% in the fourth quarter. FMR LLC now owns 19,183,942 shares of the company’s stock worth $1,426,134,000 after purchasing an additional 4,613,570 shares during the last quarter. Marshall Wace LLP increased its holdings in Roku by 663.9% in the 4th quarter. Marshall Wace LLP now owns 2,335,813 shares of the company’s stock worth $173,644,000 after buying an additional 2,030,036 shares during the period. Holocene Advisors LP purchased a new position in Roku during the 3rd quarter worth approximately $129,015,000. Westfield Capital Management Co. LP lifted its stake in Roku by 126.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock valued at $114,646,000 after acquiring an additional 856,401 shares during the period. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Roku by 352.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock valued at $48,653,000 after acquiring an additional 507,643 shares during the last quarter. Hedge funds and other 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.