Roku (NASDAQ:ROKU) Price Target Raised to $160.00

Roku (NASDAQ:ROKU) had its price objective increased by research analysts at Robert W. Baird from $130.00 to $160.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price objective suggests a potential upside of 23.52% from the stock’s previous close.

Several other research firms have also weighed in on ROKU. Pivotal Research reiterated a “buy” rating and set a $160.00 target price (up from $140.00) on shares of Roku in a research note on Friday, May 1st. Rosenblatt Securities upped their price target on shares of Roku from $118.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Benchmark upped their price target on shares of Roku from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Wedbush upped their price target on shares of Roku from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Finally, Moffett Nathanson restated a “neutral” rating and set a $100.00 price target on shares of Roku in a research report on Friday, February 13th. Twenty-one investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $143.42.

Roku Price Performance

ROKU stock opened at $129.53 on Monday. Roku has a 1-year low of $60.43 and a 1-year high of $130.72. The firm has a fifty day moving average price of $102.76 and a two-hundred day moving average price of $101.52. The firm has a market cap of $19.10 billion, a price-to-earnings ratio of 97.39 and a beta of 2.04.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, April 30th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.23. Roku had a net margin of 4.06% and a return on equity of 7.64%. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the firm earned ($0.19) earnings per share. The firm’s revenue for the quarter was up 22.4% compared to the same quarter last year. As a group, analysts expect that Roku will post 2.41 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Charles Collier sold 20,538 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $124.23, for a total value of $2,551,435.74. Following the completion of the sale, the insider owned 7,700 shares of the company’s stock, valued at $956,571. This represents a 72.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gilbert Fuchsberg sold 9,593 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $125.52, for a total transaction of $1,204,113.36. Following the completion of the sale, the insider directly owned 50,863 shares of the company’s stock, valued at $6,384,323.76. The trade was a 15.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 663,038 shares of company stock valued at $70,956,545. Corporate insiders own 13.45% of the company’s stock.

Institutional Investors Weigh In On Roku

Institutional investors have recently bought and sold shares of the stock. AGF Management Ltd. acquired a new stake in Roku in the 3rd quarter valued at about $15,023,000. Convergence Investment Partners LLC acquired a new stake in Roku in the 3rd quarter valued at about $2,492,000. Holocene Advisors LP lifted its holdings in Roku by 352.3% in the 3rd quarter. Holocene Advisors LP now owns 1,650,448 shares of the company’s stock valued at $165,259,000 after acquiring an additional 1,285,585 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Roku by 138.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 40,057 shares of the company’s stock valued at $4,079,000 after acquiring an additional 23,280 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC lifted its holdings in Roku by 699.2% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 23,248 shares of the company’s stock valued at $2,328,000 after acquiring an additional 20,339 shares during the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

Roku Company Profile

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.