Bank of America Issues Positive Forecast for Roku (NASDAQ:ROKU) Stock Price

Roku (NASDAQ:ROKU) had its price objective upped by Bank of America from $85.00 to $100.00 in a research report released on Tuesday,Benzinga reports. Bank of America currently has a buy rating on the stock.

Other equities analysts have also issued reports about the company. Moffett Nathanson upgraded Roku from a “sell” rating to a “neutral” rating and set a $70.00 price objective for the company in a research report on Tuesday, March 4th. JPMorgan Chase & Co. upped their price target on shares of Roku from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, June 3rd. Needham & Company LLC restated a “buy” rating and set a $88.50 price objective on shares of Roku in a report on Tuesday. Loop Capital raised shares of Roku from a “hold” rating to a “buy” rating and boosted their price objective for the company from $80.00 to $100.00 in a research report on Tuesday. Finally, Compass Point initiated coverage on Roku in a report on Sunday, March 23rd. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $89.24.

Roku Stock Performance

Shares of NASDAQ:ROKU opened at $80.63 on Tuesday. The company has a 50 day moving average price of $68.33 and a two-hundred day moving average price of $75.01. The company has a market capitalization of $11.77 billion, a PE ratio of -110.45 and a beta of 2.09. Roku has a 52 week low of $48.33 and a 52 week high of $104.96.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.08. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. Roku had a negative return on equity of 4.29% and a negative net margin of 2.49%. The firm’s revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.35) EPS. On average, sell-side analysts forecast that Roku will post -0.3 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Charles Collier sold 7,181 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $75.00, for a total value of $538,575.00. Following the transaction, the insider now owns 10,970 shares in the company, valued at approximately $822,750. This represents a 39.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Matthew C. Banks sold 629 shares of the company’s stock in a transaction that occurred 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 directly owns 8,555 shares in the company, valued at $624,343.90. The trade was a 6.85% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,737 shares of company stock worth $4,987,114. Insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Anderson Financial Strategies LLC acquired a new stake in shares of Roku in the first quarter valued at approximately $68,000. Strs Ohio bought a new stake in Roku during the first quarter worth about $3,984,000. Acadian Asset Management LLC grew its stake in Roku by 456.7% during the first quarter. Acadian Asset Management LLC now owns 1,905,779 shares of the company’s stock worth $134,222,000 after buying an additional 1,563,449 shares in the last quarter. Focus Partners Wealth bought a new position in Roku in the 1st quarter valued at about $229,000. Finally, Plato Investment Management Ltd increased its holdings in Roku by 217.4% in the 1st quarter. Plato Investment Management Ltd now owns 9,663 shares of the company’s stock valued at $688,000 after buying an additional 6,619 shares during the period. Institutional investors and hedge funds own 86.30% of the company’s stock.

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.