Robert W. Baird Raises Roku (NASDAQ:ROKU) Price Target to $75.00

by · The Cerbat Gem

Roku (NASDAQ:ROKU – Free Report) had its price target lifted by Robert W. Baird from $56.00 to $75.00 in a research report released on Monday, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities research analysts also recently issued reports on ROKU. Macquarie cut their price objective on shares of Roku from $88.00 to $72.00 and set an outperform rating for the company in a research report on Friday, August 2nd. Bank of America lifted their price objective on Roku from $75.00 to $90.00 and gave the company a buy rating in a research report on Monday. Wells Fargo & Company upgraded shares of Roku from an underweight rating to an equal weight rating and raised their target price for the stock from $50.00 to $72.00 in a research note on Thursday, September 5th. Needham & Company LLC reiterated a buy rating and issued a $100.00 price target on shares of Roku in a research report on Friday, September 13th. Finally, Wolfe Research raised Roku from a peer perform rating to an outperform rating and set a $93.00 price target on the stock in a report on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $81.14.

Read Our Latest Research Report on Roku

Roku Trading Up 1.7 %

NASDAQ:ROKU opened at $75.45 on Monday. The company has a 50 day simple moving average of $65.66 and a two-hundred day simple moving average of $61.83. The company has a market cap of $10.92 billion, a PE ratio of -18.91 and a beta of 2.06. Roku has a 12 month low of $48.33 and a 12 month high of $108.84.

Roku (NASDAQ:ROKU – Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.21. The company had revenue of $968.18 million during the quarter, compared to analysts’ expectations of $937.78 million. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. Roku’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.76) earnings per share. Research analysts forecast that Roku will post -1.44 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total transaction of $75,330.00. Following the transaction, the chief financial officer now owns 54,267 shares of the company’s stock, valued at $4,087,933.11. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction 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 directly owns 54,267 shares of the company’s stock, valued at $4,087,933.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charles Collier sold 3,590 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total transaction of $233,350.00. Following the completion of the transaction, the insider now directly owns 12,064 shares in the company, valued at approximately $784,160. The disclosure for this sale can be found here. Insiders sold a total of 47,156 shares of company stock valued at $3,481,100 over the last 90 days. Insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Several institutional investors and hedge funds have recently modified their holdings of the stock. Mcdonald Partners LLC increased its holdings in Roku by 0.9% during the 2nd quarter. Mcdonald Partners LLC now owns 19,608 shares of the company’s stock worth $1,175,000 after purchasing an additional 175 shares during the period. Benjamin Edwards Inc. increased its stake in shares of Roku by 43.5% during the first quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock valued at $40,000 after buying an additional 187 shares during the period. Beacon Capital Management LLC raised its holdings in shares of Roku by 17.7% in the first quarter. Beacon Capital Management LLC now owns 1,547 shares of the company’s stock valued at $101,000 after acquiring an additional 233 shares in the last quarter. Arizona State Retirement System grew its holdings in Roku by 0.7% during the 2nd quarter. Arizona State Retirement System now owns 34,656 shares of the company’s stock worth $2,077,000 after acquiring an additional 251 shares in the last quarter. Finally, Quarry LP increased its position in Roku by 160.2% during the 4th quarter. Quarry LP now owns 432 shares of the company’s stock valued at $40,000 after purchasing an additional 266 shares during the period. Institutional investors own 86.30% of the company’s stock.

Roku Company Profile

(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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