Guggenheim Increases Roku (NASDAQ:ROKU) Price Target to $170.00

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Roku (NASDAQ:ROKU) had its target price hoisted by stock analysts at Guggenheim from $119.00 to $170.00 in a note issued to investors on Wednesday, Marketbeat reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s price objective would suggest a potential upside of 27.09% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. Vertical Group raised Roku from a “mixed” rating to a “positive” rating in a research note on Wednesday, August 7th. Wedbush reissued a “hold” rating and issued a $105.00 price target on shares of Roku in a research note on Thursday, August 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $107.00 target price (up from $90.00) on shares of Roku in a research report on Thursday, August 8th. DA Davidson upped their target price on Roku from $135.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Finally, ValuEngine lowered Roku from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Roku has a consensus rating of “Buy” and an average price target of $113.98.

Shares of ROKU opened at $133.76 on Wednesday. Roku has a 52-week low of $26.30 and a 52-week high of $176.55. The business’s 50 day moving average price is $136.51 and its two-hundred day moving average price is $95.92. The firm has a market cap of $17.38 billion, a PE ratio of -1,672.00 and a beta of 1.78.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.14. Roku had a negative return on equity of 6.77% and a negative net margin of 2.41%. The firm had revenue of $250.10 million for the quarter, compared to analyst estimates of $223.36 million. Roku’s revenue for the quarter was up 59.5% on a year-over-year basis. As a group, equities research analysts expect that Roku will post -0.5 EPS for the current fiscal year.

In related news, CEO Anthony J. Wood sold 35,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $91.72, for a total transaction of $3,210,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alan S. Henricks sold 10,000 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $125.10, for a total value of $1,251,000.00. The disclosure for this sale can be found here. Insiders have sold 171,419 shares of company stock valued at $20,636,066 in the last quarter. 22.70% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in ROKU. Wealthcare Advisory Partners LLC grew its holdings in Roku by 1,000.0% during the first quarter. Wealthcare Advisory Partners LLC now owns 550 shares of the company’s stock worth $35,000 after buying an additional 500 shares in the last quarter. Joseph P. Lucia & Associates LLC bought a new stake in Roku during the second quarter worth $43,000. Flagship Harbor Advisors LLC grew its holdings in Roku by 64.5% during the second quarter. Flagship Harbor Advisors LLC now owns 477 shares of the company’s stock worth $43,000 after buying an additional 187 shares in the last quarter. James Investment Research Inc. grew its holdings in Roku by 68.4% during the second quarter. James Investment Research Inc. now owns 825 shares of the company’s stock worth $75,000 after buying an additional 335 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in Roku during the second quarter worth $80,000. Institutional investors and hedge funds own 52.54% of the company’s stock.

Roku Company Profile

Roku, Inc operates a TV streaming platform. The company operates in two segments, Platform and Player. Its platform allows users to discover and access various movies and TV episodes, as well as live sports, music, news, and others. As of December 31, 2018, the company had 27.1 million active accounts.

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Analyst Recommendations for Roku (NASDAQ:ROKU)

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