Roku (NASDAQ:ROKU) Stock Price Expected to Rise, Bank of America Analyst Says

Roku (NASDAQ:ROKU) had its target price upped by research analysts at Bank of America from $90.00 to $120.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price target would indicate a potential upside of 21.13% from the company’s current price.

ROKU has been the subject of a number of other reports. Wedbush reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Roku in a research report on Monday, February 10th. Moffett Nathanson cut Roku from a “neutral” rating to a “sell” rating and set a $55.00 price objective for the company. in a research report on Friday, January 10th. JMP Securities reaffirmed a “market outperform” rating and set a $95.00 price objective on shares of Roku in a research report on Monday, February 3rd. Piper Sandler increased their price objective on Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Roku in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $93.18.

Roku Stock Up 14.1 %

Shares of NASDAQ ROKU opened at $99.07 on Friday. The stock has a market cap of $14.38 billion, a PE ratio of -82.56 and a beta of 2.05. Roku has a 52-week low of $48.33 and a 52-week high of $104.96. The business has a 50-day moving average price of $80.56 and a 200 day moving average price of $73.76.

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.20. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. Sell-side analysts anticipate that Roku will post -1.09 earnings per share for the current year.

Insider Activity at Roku

In related news, insider Charles Collier sold 10,771 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $71.14, for a total value of $766,248.94. Following the completion of the transaction, the insider now directly owns 3,790 shares in the company, valued at approximately $269,620.60. This represents a 73.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Matthew C. Banks sold 8,693 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $71.44, for a total value of $621,027.92. Following the completion of the transaction, the chief accounting officer now owns 7,264 shares of the company’s stock, valued at $518,940.16. The trade was a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,885 shares of company stock valued at $7,911,162 in the last ninety days. Corporate insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

A number of institutional investors have recently added to or reduced their stakes in ROKU. Geneos Wealth Management Inc. grew its position in Roku by 369.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock valued at $25,000 after acquiring an additional 270 shares during the period. Vision Financial Markets LLC purchased a new stake in Roku during the fourth quarter valued at about $30,000. Raelipskie Partnership purchased a new stake in Roku during the third quarter valued at about $32,000. Game Plan Financial Advisors LLC purchased a new stake in Roku during the fourth quarter valued at about $37,000. Finally, Harvest Fund Management Co. Ltd grew its position in Roku by 4,091.7% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company’s stock valued at $37,000 after acquiring an additional 491 shares during the period. Hedge funds and other institutional investors own 86.30% of the company’s stock.

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.