Roku (NASDAQ:ROKU) Given New $101.00 Price Target at Rosenblatt Securities

Key Points

• Rosenblatt Securities raised its target price for Roku from $75.00 to $101.00, indicating a potential upside of 7.26% from the current price, while maintaining a "neutral" rating.
• Roku reported $0.07 earnings per share for the last quarter, exceeding analysts' expectations of a loss, as well as a 14.7% revenue increase year-over-year to $1.11 billion.
• CEO Anthony J. Wood and CFO Dan Jedda recently sold significant shares of Roku, leading to a decrease in their ownership stakes of 67.65% and 3.79%, respectively.

Roku (NASDAQ:ROKU - Get Free Report) had its target price hoisted by equities research analysts at Rosenblatt Securities from $75.00 to $101.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Rosenblatt Securities' target price would suggest a potential upside of 26.28% from the stock's previous close.

Several other brokerages also recently commented on ROKU. Bank of America upped their price target on shares of Roku from $100.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Redburn Atlantic upgraded shares of Roku from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a report on Monday, April 7th. Citigroup reiterated a "neutral" rating and set a $84.00 price target (up from $68.00) on shares of Roku in a report on Wednesday, June 18th. Wall Street Zen upgraded shares of Roku from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Benchmark restated a "buy" rating and issued a $130.00 target price on shares of Roku in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $99.36.

Roku Stock Down 15.1%

NASDAQ:ROKU traded down $14.18 during mid-day trading on Friday, hitting $79.98. 15,358,882 shares of the stock traded hands, compared to its average volume of 2,951,984. The stock has a market capitalization of $11.67 billion, a price-to-earnings ratio of -190.43 and a beta of 2.05. Roku has a 52 week low of $48.33 and a 52 week high of $104.96. The firm's 50 day moving average is $83.77 and its two-hundred day moving average is $76.97.

Roku (NASDAQ:ROKU - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.16) by $0.23. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.07 billion. Roku had a negative net margin of 1.40% and a negative return on equity of 2.47%. The firm's revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.18) EPS. As a group, research analysts predict that Roku will post -0.3 EPS for the current year.

Insider Buying and Selling at Roku

In other news, insider Charles Collier sold 212,559 shares of the company's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $95.00, for a total value of $20,193,105.00. Following the completion of the sale, the insider owned 200 shares of the company's stock, valued at approximately $19,000. This represents a 99.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Anthony J. Wood sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $89.64, for a total transaction of $2,241,000.00. Following the completion of the sale, the chief executive officer directly owned 11,953 shares of the company's stock, valued at $1,071,466.92. The trade was a 67.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 308,873 shares of company stock worth $28,076,913 over the last quarter. 13.98% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Roku

Institutional investors have recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Roku during the 1st quarter valued at $6,026,000. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Roku by 505.3% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,296,774 shares of the company's stock valued at $96,402,000 after purchasing an additional 1,082,548 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Roku by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company's stock valued at $159,353,000 after purchasing an additional 56,820 shares during the last quarter. Lecap Asset Management Ltd. purchased a new stake in shares of Roku during the 1st quarter valued at $511,000. Finally, J. Goldman & Co LP lifted its holdings in shares of Roku by 973.1% during the 4th quarter. J. Goldman & Co LP now owns 354,326 shares of the company's stock valued at $26,341,000 after purchasing an additional 321,307 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors and hedge funds.

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.