Roku (NASDAQ:ROKU) Given New $70.00 Price Target at Loop Capital

by · The Markets Daily

Roku (NASDAQ:ROKU – Get Free Report) had its price objective increased by analysts at Loop Capital from $65.00 to $70.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Loop Capital’s price objective indicates a potential upside of 11.95% from the company’s previous close.

A number of other brokerages have also recently weighed in on ROKU. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Roku in a research note on Thursday. Moffett Nathanson raised shares of Roku from a “sell” rating to a “neutral” rating and set a $80.00 price target on the stock in a research report on Tuesday, October 1st. Macquarie restated an “outperform” rating and issued a $90.00 price objective on shares of Roku in a report on Thursday. Benchmark reiterated a “buy” rating and set a $105.00 target price on shares of Roku in a report on Thursday, September 12th. Finally, Bank of America upped their price objective on Roku from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $83.62.

View Our Latest Stock Analysis on ROKU

Roku Stock Down 19.3 %

Shares of Roku stock traded down $14.98 during mid-day trading on Thursday, hitting $62.53. The stock had a trading volume of 17,200,174 shares, compared to its average volume of 4,401,457. The firm has a market cap of $9.01 billion, a P/E ratio of -15.69 and a beta of 2.08. The firm 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 announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.29. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The business’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same period last year, the business earned ($2.33) earnings per share. Sell-side analysts expect that Roku will post -1.43 earnings per share for the current year.

Insider Buying and Selling at Roku

In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total transaction of $109,012.27. Following the transaction, the insider now owns 38,602 shares in the company, valued at $2,485,582.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total value of $109,012.27. Following the completion of the transaction, the insider now directly owns 38,602 shares of the company’s stock, valued at $2,485,582.78. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $76.25, for a total value of $76,250.00. Following the transaction, the chief financial officer now directly owns 53,267 shares of the company’s stock, valued at $4,061,608.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,566 shares of company stock valued at $5,254,000. Company insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its holdings in shares of Roku by 123.4% in 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 in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Roku in the third quarter worth approximately $43,000. Geneos Wealth Management Inc. boosted 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 bought a new stake in shares of Roku in the 2nd quarter worth $48,000. Finally, Natixis acquired a new stake in shares of Roku in the first quarter valued at $53,000. 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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