Guggenheim Raises Roku (NASDAQ:ROKU) Price Target to $105.00

Roku (NASDAQ:ROKU) had its target price lifted by equities researchers at Guggenheim from $100.00 to $105.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s target price indicates a potential upside of 31.28% from the company’s current price.

Several other analysts also recently issued reports on ROKU. Piper Sandler increased their price target on Roku from $65.00 to $84.00 and gave the company a “neutral” rating in a report on Thursday, July 10th. Wedbush upped their price objective on shares of Roku from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, July 28th. Wells Fargo & Company lowered their target price on Roku from $129.00 to $93.00 and set an “overweight” rating for the company in a research note on Monday, April 28th. Susquehanna raised their target price on Roku from $85.00 to $110.00 and gave the company a “positive” rating in a research note on Friday. Finally, Bank of America raised their target price on Roku from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, July 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $99.36.

Roku Trading Down 15.1%

Shares of NASDAQ ROKU opened at $79.98 on Friday. Roku has a 12-month low of $48.33 and a 12-month high of $104.96. The company has a market cap of $11.67 billion, a P/E ratio of -190.43 and a beta of 2.05. The stock has a fifty day moving average price of $83.77 and a 200 day moving average price of $76.97.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.23. Roku had a negative return on equity of 2.47% and a negative net margin of 1.40%. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the firm earned ($0.18) EPS. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, sell-side analysts forecast that Roku will post -0.3 EPS for the current fiscal year.

Insider Transactions at Roku

In other Roku news, insider Charles Collier sold 212,559 shares of the firm’s stock in a transaction dated 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 transaction, the insider owned 200 shares of the company’s stock, valued at $19,000. This trade represents a 99.91% decrease in their ownership of the stock. 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 firm’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 11,953 shares in the company, valued at $1,071,466.92. This represents a 67.65% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 308,873 shares of company stock valued at $28,076,913. Insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

A number of large investors have recently bought and sold shares of ROKU. FMR LLC lifted its holdings in Roku by 31.7% in the fourth quarter. FMR LLC now owns 19,183,942 shares of the company’s stock worth $1,426,134,000 after acquiring an additional 4,613,570 shares during the last quarter. Marshall Wace LLP lifted its holdings in Roku by 663.9% in the fourth quarter. Marshall Wace LLP now owns 2,335,813 shares of the company’s stock worth $173,644,000 after acquiring an additional 2,030,036 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Roku by 456.7% in the first quarter. Acadian Asset Management LLC now owns 1,905,779 shares of the company’s stock worth $134,222,000 after acquiring an additional 1,563,449 shares during the last quarter. Cadian Capital Management LP bought a new position in Roku in the fourth quarter worth about $87,632,000. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Roku by 505.3% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,296,774 shares of the company’s stock valued at $96,402,000 after buying an additional 1,082,548 shares during the last quarter. 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.