Roku (NASDAQ:ROKU) Stock Price Expected to Rise, UBS Group Analyst Says

Roku (NASDAQ:ROKU) had its price target hoisted by investment analysts at UBS Group from $126.00 to $172.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s target price would indicate a potential upside of 12.34% from the company’s previous close.

ROKU has been the topic of several other research reports. Morgan Stanley lifted their target price on shares of Roku from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. Susquehanna cut shares of Roku from a “positive” rating to a “neutral” rating and set a $160.00 price target for the company. in a report on Tuesday, June 16th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $160.00 price objective (up from $150.00) on shares of Roku in a research report on Tuesday, June 16th. Wedbush cut Roku from an “outperform” rating to a “neutral” rating and set a $155.00 target price on the stock. in a research report on Tuesday, June 16th. Finally, Guggenheim cut Roku from a “buy” rating to a “neutral” rating and raised their price target for the company from $145.00 to $160.00 in a report on Friday. Eight investment analysts have rated the stock with a Buy rating and nineteen have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $156.25.

Roku Price Performance

ROKU opened at $153.11 on Friday. Roku has a 52 week low of $78.53 and a 52 week high of $153.54. The business has a 50 day moving average price of $138.39 and a two-hundred day moving average price of $116.38. The company has a market cap of $22.57 billion, a PE ratio of 65.43 and a beta of 2.01.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.47. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.30 billion. Roku had a net margin of 6.82% and a return on equity of 13.73%. Roku’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period last year, the firm posted $0.07 EPS. As a group, sell-side analysts expect that Roku will post 2.41 EPS for the current fiscal year.

Insider Buying and Selling at Roku

In other Roku news, insider Gilbert Fuchsberg sold 10,719 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $150.00, for a total transaction of $1,607,850.00. Following the completion of the sale, the insider owned 40,380 shares of the company’s stock, valued at approximately $6,057,000. The trade was a 20.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Neil D. Hunt sold 2,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $146.25, for a total value of $292,500.00. Following the sale, the director owned 9,629 shares of the company’s stock, valued at $1,408,241.25. This represents a 17.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 162,452 shares of company stock valued at $21,811,132. Corporate insiders own 13.45% of the company’s stock.

Institutional Trading of Roku

A number of institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp acquired a new stake in Roku during the 2nd quarter worth approximately $105,216,000. Ballast Inc. acquired a new position in Roku during the second quarter valued at approximately $222,000. Handelsbanken Fonder AB grew its stake in Roku by 12.5% during the second quarter. Handelsbanken Fonder AB now owns 41,400 shares of the company’s stock worth $5,719,000 after buying an additional 4,600 shares during the period. Contravisory Investment Management Inc. acquired a new stake in shares of Roku in the second quarter worth $1,184,000. Finally, Legacy Wealth Asset Management LLC purchased a new position in shares of Roku in the 2nd quarter valued at $325,000. Hedge funds and other institutional investors 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.