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

Roku (NASDAQ:ROKUGet Free Report) had its target price hoisted by research analysts at Loop Capital from $65.00 to $70.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Loop Capital’s price target points to a potential upside of 11.95% from the stock’s previous close.

A number of other brokerages have also commented on ROKU. Guggenheim upgraded Roku from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a report on Friday, August 23rd. Rosenblatt Securities increased their price target on shares of Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a research report on Thursday. Moffett Nathanson raised Roku from a “sell” rating to a “neutral” rating and set a $80.00 target price for the company in a report on Tuesday, October 1st. JPMorgan Chase & Co. increased their price objective on Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, Wolfe Research upgraded shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 target price for the company in a research report on Thursday, September 12th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $83.62.

Read Our Latest Stock Analysis on ROKU

Roku Stock Down 19.3 %

Shares of Roku stock traded down $14.98 during trading on Thursday, hitting $62.53. The stock had a trading volume of 17,200,174 shares, compared to its average volume of 4,401,457. The stock has a 50 day simple moving average of $73.24 and a 200 day simple moving average of $63.66. Roku has a 1 year low of $48.33 and a 1 year high of $108.84. The company has a market capitalization of $9.01 billion, a PE ratio of -15.69 and a beta of 2.08.

Roku (NASDAQ:ROKUGet Free Report) last issued its quarterly 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 business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the company posted ($2.33) earnings per share. Roku’s revenue for the quarter was up 16.5% compared to the same quarter last year. As a group, equities analysts expect that Roku will post -1.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Gilbert Fuchsberg sold 1,693 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total transaction of $109,012.27. Following the transaction, the insider now owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Gilbert Fuchsberg sold 1,693 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total transaction of $109,012.27. Following the completion of the sale, the insider now owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $1,875,000.00. Following the completion of the sale, the chief executive officer now directly owns 5,020 shares in the company, valued at approximately $376,500. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,566 shares of company stock valued at $5,254,000 over the last quarter. 13.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Roku

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Swedbank AB bought a new stake in Roku during the 1st quarter valued at approximately $1,180,000. SG Americas Securities LLC boosted its position in shares of Roku by 238.6% during the second quarter. SG Americas Securities LLC now owns 73,528 shares of the company’s stock valued at $4,407,000 after purchasing an additional 51,815 shares in the last quarter. Kessler Investment Group LLC grew its stake in Roku by 21.8% in the third quarter. Kessler Investment Group LLC now owns 75,968 shares of the company’s stock worth $5,672,000 after purchasing an additional 13,590 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Roku by 23.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,822 shares of the company’s stock valued at $4,094,000 after buying an additional 11,851 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Roku by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock valued at $778,560,000 after buying an additional 92,658 shares in the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

About Roku

(Get Free Report)

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.

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