Roku (NASDAQ:ROKU) Stock Price Expected to Rise, Bank of America Analyst Says

Roku (NASDAQ:ROKU) had its price objective raised by Bank of America from $100.00 to $110.00 in a report issued on Thursday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

A number of other equities research analysts have also recently commented on the stock. Wells Fargo & Company lowered their price objective on shares of Roku from $129.00 to $93.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. 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 note on Tuesday, June 17th. UBS Group lowered their price objective on shares of Roku from $90.00 to $72.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 15th. Rosenblatt Securities lowered their price objective 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. Finally, JPMorgan Chase & Co. increased their price objective on shares of Roku from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, June 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $90.37.

Roku Stock Up 2.0%

Shares of ROKU opened at $88.12 on Thursday. The company has a 50-day simple moving average of $74.59 and a 200-day simple moving average of $75.30. The company has a market capitalization of $12.86 billion, a PE ratio of -120.72 and a beta of 2.12. Roku has a 52-week low of $48.33 and a 52-week high of $104.96.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.08. The business had revenue of $1.02 billion during 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 business’s revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.35) EPS. On average, research analysts anticipate that Roku will post -0.3 EPS for the current year.

Insider Buying and Selling at Roku

In other news, insider Charles Collier sold 7,181 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $75.00, for a total transaction of $538,575.00. Following the transaction, the insider directly owned 10,970 shares in the company, valued at $822,750. This represents a 39.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the transaction, the chief executive officer owned 6,243 shares in the company, valued at approximately $468,225. The trade was a 80.02% decrease in their ownership of the stock. 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. 13.98% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC lifted its holdings in shares of Roku by 23.9% during the 4th quarter. Farther Finance Advisors LLC now owns 627 shares of the company’s stock worth $47,000 after acquiring an additional 121 shares during the period. United Advisor Group LLC lifted its holdings in shares of Roku by 0.9% during the 4th quarter. United Advisor Group LLC now owns 14,430 shares of the company’s stock worth $1,073,000 after acquiring an additional 130 shares during the period. Cerity Partners LLC lifted its holdings in shares of Roku by 0.5% during the 4th quarter. Cerity Partners LLC now owns 26,679 shares of the company’s stock worth $1,984,000 after acquiring an additional 145 shares during the period. Nissay Asset Management Corp Japan ADV raised its holdings in Roku by 1.0% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 15,575 shares of the company’s stock valued at $1,097,000 after buying an additional 160 shares during the period. Finally, Smith Group Asset Management LLC raised its holdings in Roku by 2.8% in the first quarter. Smith Group Asset Management LLC now owns 7,390 shares of the company’s stock valued at $521,000 after buying an additional 200 shares during the period. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

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.