Roku (NASDAQ:ROKU) Price Target Raised to $160.00

Roku (NASDAQ:ROKU) had its price target raised by equities researchers at Robert W. Baird from $130.00 to $160.00 in a report issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price objective would suggest a potential upside of 23.52% from the stock’s previous close.

A number of other brokerages have also recently weighed in on ROKU. Needham & Company LLC lifted their price target on shares of Roku from $110.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Morgan Stanley reissued an “overweight” rating and set a $150.00 target price on shares of Roku in a research report on Friday, May 1st. Guggenheim boosted their target price on shares of Roku from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Citigroup boosted their target price on shares of Roku from $100.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Finally, Bank of America boosted their target price on shares of Roku from $115.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Twenty-one analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Roku presently has an average rating of “Moderate Buy” and an average target price of $143.42.

Roku Price Performance

Shares of ROKU stock opened at $129.53 on Monday. The stock has a market cap of $19.10 billion, a price-to-earnings ratio of 97.39 and a beta of 2.04. Roku has a fifty-two week low of $60.43 and a fifty-two week high of $130.72. The firm’s 50 day moving average price is $102.76 and its two-hundred day moving average price is $101.52.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.23. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Roku had a net margin of 4.06% and a return on equity of 7.64%. Roku’s revenue was up 22.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.19) earnings per share. On average, equities analysts forecast that Roku will post 2.41 EPS for the current fiscal year.

Insider Transactions at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $110.19, for a total value of $2,754,750.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gilbert Fuchsberg sold 9,593 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $125.52, for a total transaction of $1,204,113.36. Following the completion of the sale, the insider directly owned 50,863 shares in the company, valued at $6,384,323.76. This represents a 15.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 663,038 shares of company stock valued at $70,956,545 over the last ninety days. 13.45% of the stock is currently owned by corporate insiders.

Institutional Trading of Roku

Several institutional investors have recently added to or reduced their stakes in the stock. Raleigh Capital Management Inc. raised its holdings in Roku by 6.5% in the first quarter. Raleigh Capital Management Inc. now owns 1,522 shares of the company’s stock valued at $144,000 after acquiring an additional 93 shares in the last quarter. Apollon Wealth Management LLC raised its holdings in Roku by 1.5% in the fourth quarter. Apollon Wealth Management LLC now owns 6,450 shares of the company’s stock valued at $700,000 after acquiring an additional 96 shares in the last quarter. Cornerstone Wealth Management LLC increased its stake in Roku by 3.8% during the third quarter. Cornerstone Wealth Management LLC now owns 2,728 shares of the company’s stock valued at $273,000 after purchasing an additional 100 shares during the last quarter. Thoroughbred Financial Services LLC increased its stake in Roku by 1.0% during the third quarter. Thoroughbred Financial Services LLC now owns 9,945 shares of the company’s stock valued at $995,000 after purchasing an additional 100 shares during the last quarter. Finally, Quantum Portfolio Management LLC increased its stake in Roku by 2.6% during the first quarter. Quantum Portfolio Management LLC now owns 4,135 shares of the company’s stock valued at $391,000 after purchasing an additional 105 shares during the last quarter. 86.30% of the stock is owned by institutional investors and hedge funds.

About Roku

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.