Roku (NASDAQ:ROKU) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Roku (NASDAQ:ROKUGet Free Report) had its price objective upped by investment analysts at Wells Fargo & Company from $72.00 to $74.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 15.48% from the stock’s current price.

A number of other equities analysts have also issued reports on the stock. Rosenblatt Securities raised their target price on shares of Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a research report on Thursday. JPMorgan Chase & Co. lifted their price objective on shares of Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Citigroup increased their target price on shares of Roku from $60.00 to $77.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Benchmark reaffirmed a “buy” rating and set a $105.00 price objective on shares of Roku in a research note on Thursday, September 12th. Finally, Loop Capital lifted their target price on Roku from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday. Two 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. Based on data from MarketBeat.com, Roku currently has an average rating of “Hold” and a consensus price target of $83.71.

Get Our Latest Stock Analysis on ROKU

Roku Trading Down 17.3 %

ROKU stock traded down $13.43 during trading on Thursday, hitting $64.08. 21,689,311 shares of the company’s stock were exchanged, compared to its average volume of 4,422,733. The stock has a market capitalization of $9.24 billion, a price-to-earnings ratio of -16.06 and a beta of 2.08. Roku has a 52-week low of $48.33 and a 52-week high of $108.84. The business has a 50-day moving average price of $73.24 and a two-hundred day moving average price of $63.66.

Roku (NASDAQ:ROKUGet Free Report) last posted its earnings results on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates 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 firm 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 posted ($2.33) EPS. The company’s revenue was up 16.5% on a year-over-year basis. On average, equities research analysts anticipate that Roku will post -1.43 earnings per share for the current fiscal year.

Insider Activity at Roku

In related news, CFO Dan Jedda sold 1,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.25, for a total transaction of $76,250.00. Following the sale, the chief financial officer now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $77.20, for a total transaction of $1,930,000.00. Following the sale, the chief executive officer now owns 5,020 shares in the company, valued at $387,544. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer now owns 53,267 shares of the company’s stock, valued at $4,061,608.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,566 shares of company stock valued at $5,254,000. 13.98% of the stock is owned by corporate insiders.

Institutional Trading of Roku

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ROKU. Concurrent Investment Advisors LLC acquired a new position in shares of Roku in the 3rd quarter valued at $274,000. United Advisor Group LLC acquired a new position in Roku in the third quarter valued at $1,068,000. QRG Capital Management Inc. purchased a new stake in Roku during the third quarter valued at about $214,000. Harbor Capital Advisors Inc. grew its position in Roku by 6.3% during the third quarter. Harbor Capital Advisors Inc. now owns 8,806 shares of the company’s stock valued at $657,000 after acquiring an additional 524 shares during the period. Finally, US Bancorp DE increased its stake in Roku by 15.7% during the third quarter. US Bancorp DE now owns 3,090 shares of the company’s stock worth $231,000 after acquiring an additional 420 shares during the last quarter. Hedge funds and other 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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Analyst Recommendations for Roku (NASDAQ:ROKU)

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