Roku (NASDAQ:ROKU) Price Target Raised to $84.00

Roku (NASDAQ:ROKU - Get Free Report) had its price objective raised by equities researchers at Piper Sandler from $65.00 to $84.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Piper Sandler's price objective indicates a potential downside of 5.62% from the company's previous close.

Several other analysts also recently commented on the stock. Citigroup reissued a "neutral" rating and set a $84.00 price objective (up from $68.00) on shares of Roku in a research report on Wednesday, June 18th. KeyCorp raised shares of Roku from a "sector weight" rating to an "overweight" rating and set a $115.00 price objective on the stock in a research report on Thursday. Loop Capital raised shares of Roku from a "hold" rating to a "buy" rating and increased their price objective for the company from $80.00 to $100.00 in a research report on Tuesday, June 17th. Bank of America increased their price objective on shares of Roku from $100.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday, July 3rd. Finally, UBS Group cut their price objective on shares of Roku from $90.00 to $72.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $92.67.

Roku Trading Up 0.4%

NASDAQ ROKU traded up $0.37 during trading on Thursday, hitting $89.00. The company had a trading volume of 1,068,995 shares, compared to its average volume of 3,833,124. The company's fifty day moving average is $75.78 and its 200-day moving average is $75.51. The company has a market cap of $12.99 billion, a price-to-earnings ratio of -122.15 and a beta of 2.12. Roku has a one year low of $48.33 and a one year high of $104.96.

Roku (NASDAQ:ROKU - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, topping analysts' consensus estimates of ($0.27) by $0.08. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. Roku had a negative net margin of 2.49% and a negative return on equity of 4.29%. The company's revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.35) EPS. As a group, equities analysts anticipate that Roku will post -0.3 EPS for the current year.

Insider Buying and Selling at Roku

In related news, CFO Dan Jedda sold 1,500 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $81.32, for a total value of $121,980.00. Following the sale, the chief financial officer owned 80,632 shares in the company, valued at approximately $6,556,994.24. The trade was a 1.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Charles Collier sold 3,590 shares of the business's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $85.00, for a total transaction of $305,150.00. Following the completion of the sale, the insider owned 7,380 shares in the company, valued at $627,300. This represents a 32.73% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,020 shares of company stock worth $4,979,594. Insiders own 13.98% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ROKU. Garde Capital Inc. purchased a new position in Roku during the first quarter worth $25,000. Banque Transatlantique SA purchased a new position in Roku during the first quarter worth $28,000. Beaird Harris Wealth Management LLC purchased a new stake in shares of Roku during the first quarter valued at $30,000. Golden State Wealth Management LLC boosted 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 valued at $31,000 after purchasing an additional 247 shares during the period. Finally, Princeton Global Asset Management LLC purchased a new stake in shares of Roku during the first quarter valued at $35,000. 86.30% of the stock is owned by hedge funds and other institutional investors.

Roku Company Profile

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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