Brokerages Set Roku, Inc. (NASDAQ:ROKU) Target Price at $89.93

Roku, Inc. (NASDAQ:ROKU - Get Free Report) has been given a consensus rating of "Moderate Buy" by the twenty-six brokerages that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $89.93.

A number of research analysts have weighed in on ROKU shares. FBN Securities started coverage on shares of Roku in a research note on Friday, March 28th. They issued an "outperform" rating and a $93.00 target price on the stock. Rosenblatt Securities decreased their target price on shares of Roku from $100.00 to $75.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Wedbush reissued an "outperform" rating and issued a $100.00 target price on shares of Roku in a research note on Monday, June 16th. Loop Capital raised shares of Roku from a "hold" rating to a "buy" rating and raised their target price for the stock from $80.00 to $100.00 in a research note on Tuesday, June 17th. Finally, Compass Point started coverage on shares of Roku in a research note on Sunday, March 23rd. They issued a "buy" rating on the stock.

Roku Price Performance

Roku stock traded up $2.87 during midday trading on Monday, reaching $86.50. The company had a trading volume of 3,243,110 shares, compared to its average volume of 3,870,868. The company has a market capitalization of $12.62 billion, a P/E ratio of -118.49 and a beta of 2.09. Roku has a 12-month low of $48.33 and a 12-month high of $104.96. The firm's fifty day simple moving average is $71.52 and its 200-day simple moving average is $75.13.

Roku (NASDAQ:ROKU - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, beating analysts' consensus estimates of ($0.27) by $0.08. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Roku had a negative net margin of 2.49% and a negative return on equity of 4.29%. Roku's quarterly revenue was up 15.8% compared to the same quarter last year. During the same period last year, the company posted ($0.35) EPS. On average, analysts expect that Roku will post -0.3 EPS for the current fiscal year.

Insider Activity at Roku

In other Roku news, CAO Matthew C. Banks sold 629 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $72.98, for a total value of $45,904.42. Following the completion of the transaction, the chief accounting officer now owns 8,555 shares in the company, valued at $624,343.90. The trade was a 6.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Dan Jedda sold 1,500 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $81.32, for a total transaction of $121,980.00. Following the completion of the transaction, the chief financial officer now owns 80,632 shares of the company's stock, valued at approximately $6,556,994.24. This trade represents a 1.83% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,227 shares of company stock worth $4,994,244. Insiders own 13.98% of the company's stock.

Hedge Funds Weigh In On Roku

Institutional investors have recently modified their holdings of the business. Garde Capital Inc. acquired a new position in shares of Roku in the first quarter worth $25,000. Vision Financial Markets LLC acquired a new position in shares of Roku in the fourth quarter worth $30,000. Beaird Harris Wealth Management LLC acquired a new position in shares of Roku in the first quarter worth $30,000. Banque Transatlantique SA acquired a new position in shares of Roku during the first quarter worth $28,000. Finally, Golden State Wealth Management LLC grew its stake in shares of Roku by 125.4% during the first quarter. Golden State Wealth Management LLC now owns 444 shares of the company's stock worth $31,000 after purchasing an additional 247 shares in the last quarter. Institutional investors and hedge funds 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.