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

Roku (NASDAQ:ROKU) had its price objective upped by investment analysts at Bank of America from $100.00 to $110.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price objective would suggest a potential upside of 24.82% from the stock’s current price.

ROKU has been the topic of a number of other reports. Wells Fargo & Company dropped their price objective on shares of Roku from $129.00 to $93.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. JPMorgan Chase & Co. increased their target price on shares of Roku from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, June 3rd. JMP Securities reaffirmed a “market outperform” rating and issued a $95.00 target price on shares of Roku in a research report on Tuesday, June 17th. UBS Group dropped their target price 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. Finally, Compass Point assumed coverage on shares of Roku in a research report on Sunday, March 23rd. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Roku currently has a consensus rating of “Moderate Buy” and an average price target of $90.37.

Roku Trading Up 2.0%

Shares of NASDAQ:ROKU opened at $88.12 on Thursday. Roku has a 52 week low of $48.33 and a 52 week high of $104.96. The company’s 50 day moving average is $74.59 and its two-hundred day moving average is $75.33. The company has a market cap of $12.86 billion, a PE ratio of -120.72 and a beta of 2.12.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.08. Roku had a negative net margin of 2.49% and a negative return on equity of 4.29%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the firm posted ($0.35) EPS. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. As a group, equities research analysts expect that Roku will post -0.3 EPS for the current year.

Insider Activity at Roku

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the transaction, the chief executive officer directly owned 6,243 shares of the company’s stock, valued at approximately $468,225. This trade represents a 80.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mai Fyfield sold 914 shares of Roku stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $78.50, for a total transaction of $71,749.00. Following the completion of the sale, the director directly owned 4,374 shares in the company, valued at approximately $343,359. The trade was a 17.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 64,020 shares of company stock worth $4,979,594 in the last three months. Company insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Several hedge funds and other institutional investors have recently made changes to their positions in ROKU. Garde Capital Inc. purchased a new stake in shares of Roku in the first quarter valued at about $25,000. Banque Transatlantique SA purchased a new stake in shares of Roku in the first quarter valued at about $28,000. Vision Financial Markets LLC purchased a new stake in shares of Roku in the fourth quarter valued at about $30,000. Beaird Harris Wealth Management LLC purchased a new stake in shares of Roku in the first quarter valued at about $30,000. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Roku by 125.4% in the first quarter. Golden State Wealth Management LLC now owns 444 shares of the company’s stock valued at $31,000 after acquiring an additional 247 shares in the last quarter. Hedge funds and other institutional investors 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.