Roku (NASDAQ:ROKU) Given New $75.00 Price Target at Piper Sandler

by · The Cerbat Gem

Roku (NASDAQ:ROKU – Get Free Report) had its target price raised by equities researchers at Piper Sandler from $60.00 to $75.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s target price suggests a potential upside of 22.03% from the stock’s current price.

A number of other analysts also recently weighed in on ROKU. Rosenblatt Securities boosted their target price on shares of Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday. Morgan Stanley boosted their target price on shares of Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a report on Tuesday. Robert W. Baird boosted their target price on shares of Roku from $56.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, September 30th. Macquarie reiterated an “outperform” rating and set a $90.00 price target on shares of Roku in a report on Thursday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Roku in a report on Thursday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $84.30.

View Our Latest Stock Analysis on ROKU

Roku Price Performance

Roku stock traded down $16.05 during midday trading on Thursday, reaching $61.46. 14,742,248 shares of the company traded hands, compared to its average volume of 4,389,808. The firm has a market capitalization of $8.86 billion, a price-to-earnings ratio of -15.22 and a beta of 2.08. The business has a 50 day moving average of $73.24 and a two-hundred day moving average of $63.66. Roku has a 12 month low of $48.33 and a 12 month high of $108.84.

Roku (NASDAQ:ROKU – Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.29. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the firm earned ($2.33) earnings per share. The company’s quarterly revenue was up 16.5% on a year-over-year basis. As a group, equities analysts forecast that Roku will post -1.43 EPS for the current year.

Insider Transactions at Roku

In other news, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the sale, the chief executive officer now owns 5,020 shares of the company’s stock, valued at approximately $376,500. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Dan Jedda sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total transaction of $75,330.00. Following the completion of the sale, the chief financial officer now owns 54,267 shares of the company’s stock, valued at $4,087,933.11. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the sale, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at $376,500. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,566 shares of company stock valued at $5,254,000. Company insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

A number of hedge funds and other institutional investors have recently bought and sold shares of ROKU. EverSource Wealth Advisors LLC lifted its position in Roku by 123.4% during the second quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock valued at $40,000 after acquiring an additional 375 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in Roku during the 3rd quarter valued at approximately $43,000. Geneos Wealth Management Inc. increased its stake in Roku by 835.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock valued at $45,000 after purchasing an additional 610 shares in the last quarter. Cedar Wealth Management LLC acquired a new position in Roku during the 2nd quarter valued at approximately $48,000. Finally, Natixis acquired a new position in Roku during the 1st quarter valued at approximately $53,000. 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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