Roku (NASDAQ:ROKU) Price Target Raised to $172.00

Roku (NASDAQ:ROKU) had its price target hoisted by UBS Group from $126.00 to $172.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $160.00 target price (up from $150.00) on shares of Roku in a research note on Tuesday, June 16th. Citigroup upped their price target on Roku from $120.00 to $157.00 and gave the company a “neutral” rating in a research note on Friday, July 17th. Seaport Research Partners lowered Roku from a “buy” rating to a “neutral” rating in a research report on Friday. Pivotal Research reiterated a “buy” rating and issued a $160.00 price objective (up from $140.00) on shares of Roku in a research report on Friday, May 1st. Finally, Wolfe Research lowered Roku from an “outperform” rating to a “peer perform” rating in a report on Tuesday, June 16th. Eight investment analysts have rated the stock with a Buy rating and nineteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, Roku presently has an average rating of “Hold” and an average target price of $156.25.

Roku Price Performance

Roku stock opened at $153.11 on Friday. The firm has a 50 day simple moving average of $138.39 and a 200-day simple moving average of $116.38. Roku has a 12-month low of $78.53 and a 12-month high of $153.54. The stock has a market capitalization 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 (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.47. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.30 billion. Roku had a return on equity of 13.73% and a net margin of 6.82%.The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.07 EPS. On average, analysts forecast that Roku will post 2.41 earnings per share for the current fiscal year.

Insider Transactions at Roku

In other news, insider Charles Collier sold 20,538 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $142.51, for a total transaction of $2,926,870.38. Following the completion of the sale, the insider owned 15,200 shares of the company’s stock, valued at approximately $2,166,152. This represents a 57.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gilbert Fuchsberg sold 10,719 shares of the business’s stock in a transaction on 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 sale, the insider directly owned 40,380 shares in the company, valued at approximately $6,057,000. The trade was a 20.98% decrease in their position. 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 three months, insiders sold 162,452 shares of company stock worth $21,811,132. Corporate insiders own 13.45% of the company’s stock.

Institutional Trading of Roku

Large investors have recently added to or reduced their stakes in the stock. Bayban boosted its holdings in shares of Roku by 1,300.0% in the first quarter. Bayban now owns 280 shares of the company’s stock worth $26,000 after acquiring an additional 260 shares during the period. WPG Advisers LLC purchased a new stake in Roku during the 4th quarter valued at about $31,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Roku in the fourth quarter valued at about $31,000. Rakuten Securities Inc. raised its holdings in Roku by 55.6% in the 2nd quarter. Rakuten Securities Inc. now owns 442 shares of the company’s stock worth $39,000 after purchasing an additional 158 shares in the last quarter. Finally, Elevation Wealth Partners LLC lifted its position in Roku by 208.7% during the second quarter. Elevation Wealth Partners LLC now owns 318 shares of the company’s stock valued at $44,000 after buying an additional 215 shares during the period. Hedge funds and other institutional investors own 86.30% of the company’s stock.

About Roku

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.