Roku, Inc. (NASDAQ:ROKU) Stock Has Average Target Price of $156.17

Roku, Inc. (NASDAQ:ROKU) has been given a consensus recommendation of “Hold” by the twenty-seven brokerages that are presently covering the company, MarketBeat reports. Eighteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $156.17.

Several research analysts have commented on ROKU shares. Wedbush reissued a “neutral” rating and set a $155.00 price objective on shares of Roku in a report on Thursday, September 24th. Wells Fargo & Company cut Roku from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $167.00 to $165.00 in a report on Friday, August 14th. UBS Group lifted their target price on Roku from $126.00 to $172.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Zacks Research upgraded Roku from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Finally, Rosenblatt Securities lowered Roku from a “buy” rating to a “hold” rating and set a $160.00 price target for the company. in a research note on Tuesday, November 3rd.

Roku Stock Performance

ROKU stock opened at $160.52 on Thursday. Roku has a one year low of $78.53 and a one year high of $163.57. The company’s fifty day moving average price is $155.33 and its 200-day moving average price is $128.92. The company has a market capitalization of $23.82 billion, a PE ratio of 47.49 and a beta of 2.12.

Roku (NASDAQ:ROKU) last issued its earnings results on Monday, November 2nd. The company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.65. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.41 billion. Roku had a net margin of 9.34% and a return on equity of 18.65%. Roku’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.16 earnings per share. On average, research analysts predict that Roku will post 3.17 EPS for the current fiscal year.

Trending Headlines about Roku

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Fox completed its reported $22 billion acquisition of Roku, combining Roku’s streaming platform with Fox’s media and advertising business. Fox expects the transaction to create more opportunities to reach audiences and serve advertising partners, while also expanding the reach of its sports and news programming. Fox completes its $22B acquisition of Roku
• Neutral Sentiment: The acquisition’s completion means Roku will no longer trade on Nasdaq as of Friday. Investors should view ROKU’s immediate trading implications in light of the completed transaction, rather than solely as a bet on Roku’s future as an independent company. Fox Corp. Closes $22B Acquisition Of Roku
• Neutral Sentiment: Roku head Charlie Collier and Tubi CEO Anjali Sud are departing, with Paul Cheesbrough named CEO of Fox Digital Platforms. The leadership changes signal a reshaping of Fox’s combined digital operation, though the reports provide no details on the expected financial impact. Fox Digital Platforms leadership changes

Insiders Place Their Bets

In other news, CAO Matthew C. Banks sold 552 shares of the stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $157.44, for a total transaction of $86,906.88. Following the completion of the transaction, the chief accounting officer directly owned 7,016 shares in the company, valued at approximately $1,104,599.04. This represents a 7.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Neil D. Hunt sold 2,000 shares of the business’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $156.17, for a total transaction of $312,340.00. Following the completion of the sale, the director owned 9,629 shares in the company, valued at $1,503,760.93. This represents a 17.20% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 88,028 shares of company stock worth $13,645,922. Insiders own 13.45% of the company’s stock.

Institutional Trading of Roku

Large investors have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Roku by 229.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,038,347 shares of the company’s stock valued at $192,868,000 after acquiring an additional 1,419,772 shares during the last quarter. HBK Investments L P bought a new stake in Roku during the second quarter worth approximately $163,604,000. Renaissance Technologies LLC raised its position in Roku by 22.8% during the first quarter. Renaissance Technologies LLC now owns 1,565,100 shares of the company’s stock valued at $148,090,000 after purchasing an additional 290,200 shares during the period. Bank of New York Mellon Corp purchased a new stake in Roku during the second quarter valued at approximately $105,216,000. Finally, Bank of America Corp DE lifted its stake in shares of Roku by 5.5% in the 1st quarter. Bank of America Corp DE now owns 1,082,755 shares of the company’s stock valued at $102,450,000 after purchasing an additional 56,893 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors.

Roku Company Profile

Roku, Inc provides a streaming platform that connects viewers with television and other digital video content. Its products include streaming players and Roku-branded televisions, as well as the Roku operating system, which the company licenses to television manufacturers.

Roku also operates a platform business that supports streaming services and advertisers. Its offerings include the Roku Channel, an ad-supported streaming service, and tools for distributing content and delivering advertising to viewers.

Founded in 2002 by Anthony Wood, Roku serves customers in the United States and other markets.