Analysts Set Roku, Inc. (NASDAQ:ROKU) Target Price at $83.81

Roku, Inc. (NASDAQ:ROKU) has earned a consensus rating of “Moderate Buy” from the twenty-four research firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation, twelve have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $83.81.

ROKU has been the subject of a number of research analyst reports. Wedbush reissued an “outperform” rating and issued a $100.00 price target (up from $85.00) on shares of Roku in a report on Friday, December 6th. Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of Roku in a research note on Wednesday, December 4th. Robert W. Baird raised Roku from a “neutral” rating to an “outperform” rating and upped their price target for the company from $70.00 to $90.00 in a report on Monday, November 18th. UBS Group began coverage on Roku in a research report on Friday, November 22nd. They set a “neutral” rating and a $73.00 price objective for the company. Finally, Wells Fargo & Company boosted their target price on Roku from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st.

Insider Activity

In other news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $77.20, for a total value of $1,930,000.00. Following the transaction, the chief executive officer now owns 5,020 shares of the company’s stock, valued at $387,544. This trade represents a 83.28 % 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, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $82.73, for a total transaction of $82,730.00. Following the completion of the transaction, the chief financial officer now owns 64,555 shares in the company, valued at $5,340,635.15. The trade was a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,095 shares of company stock worth $5,661,038. 13.98% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Roku

Hedge funds have recently bought and sold shares of the company. Holocene Advisors LP acquired a new position in shares of Roku during the 3rd quarter worth about $129,015,000. Westfield Capital Management Co. LP lifted its holdings in shares of Roku by 126.1% during the third quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock worth $114,646,000 after buying an additional 856,401 shares during the last quarter. Point72 Asset Management L.P. boosted its position in shares of Roku by 352.5% in the third quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock valued at $48,653,000 after acquiring an additional 507,643 shares during the period. JAT Capital Mgmt LP grew its stake in shares of Roku by 470.2% in the third quarter. JAT Capital Mgmt LP now owns 540,577 shares of the company’s stock worth $40,359,000 after acquiring an additional 445,777 shares during the last quarter. Finally, FMR LLC raised its stake in Roku by 1.7% during the 3rd quarter. FMR LLC now owns 14,570,372 shares of the company’s stock valued at $1,087,824,000 after purchasing an additional 244,793 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors.

Roku Trading Up 3.9 %

Shares of NASDAQ:ROKU opened at $77.38 on Monday. The company has a 50 day moving average of $75.39 and a 200-day moving average of $69.12. The firm has a market cap of $11.24 billion, a P/E ratio of -64.48 and a beta of 2.06. Roku has a twelve month low of $48.33 and a twelve month high of $99.80.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.29. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The firm’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period last year, the company posted ($2.33) EPS. Equities research analysts forecast that Roku will post -1.1 EPS for the current year.

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.