Wells Fargo & Company Issues Positive Forecast for Roku (NASDAQ:ROKU) Stock Price

Roku (NASDAQ:ROKU) had its target price increased by Wells Fargo & Company from $72.00 to $74.00 in a research report report published on Thursday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other analysts also recently commented on the company. Loop Capital upped their target price on Roku from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday. Benchmark reaffirmed a “buy” rating and issued a $105.00 price target on shares of Roku in a report on Thursday, September 12th. Rosenblatt Securities upped their price target on Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday. Wolfe Research raised Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 target price for the company in a report on Thursday, September 12th. Finally, Citigroup increased their target price on Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Roku currently has a consensus rating of “Hold” and an average target price of $83.95.

Roku Stock Up 2.5 %

Shares of ROKU opened at $65.70 on Thursday. Roku has a 52 week low of $48.33 and a 52 week high of $108.84. The company has a market capitalization of $9.51 billion, a price-to-earnings ratio of -54.75 and a beta of 2.07. The stock’s 50-day moving average price is $73.22 and its 200-day moving average price is $63.75.

Roku (NASDAQ:ROKU) last issued its earnings results on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.29. Roku had a negative return on equity of 7.30% and a negative net margin of 4.42%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the business earned ($2.33) earnings per share. The company’s revenue was up 16.5% compared to the same quarter last year. As a group, equities analysts anticipate that Roku will post -1.41 EPS for the current fiscal year.

Insider Activity

In related 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 value of $109,012.27. Following the completion of the transaction, the insider now directly owns 38,602 shares in the company, valued at approximately $2,485,582.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related 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 value of $109,012.27. Following the completion of the transaction, the insider now directly owns 38,602 shares in the company, valued at approximately $2,485,582.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Dan Jedda sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total value of $75,330.00. Following the completion of the transaction, the chief financial officer now owns 54,267 shares of the company’s stock, valued at $4,087,933.11. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,566 shares of company stock worth $5,254,000 over the last ninety days. Corporate insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Nikko Asset Management Americas Inc. boosted its position in shares of Roku by 25.8% during the first quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock worth $462,108,000 after buying an additional 1,455,408 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of Roku by 138.1% during the first quarter. Canada Pension Plan Investment Board now owns 342,400 shares of the company’s stock worth $22,314,000 after buying an additional 198,600 shares during the period. AQR Capital Management LLC boosted its position in shares of Roku by 645.3% during the second quarter. AQR Capital Management LLC now owns 221,557 shares of the company’s stock worth $13,278,000 after buying an additional 191,831 shares during the period. ARK Investment Management LLC boosted its position in shares of Roku by 1.3% during the second quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock worth $762,096,000 after buying an additional 159,785 shares during the period. Finally, Andra AP fonden boosted its position in shares of Roku by 116.6% during the second quarter. Andra AP fonden now owns 293,900 shares of the company’s stock worth $17,613,000 after buying an additional 158,200 shares during the period. 86.30% of the stock is currently 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.