Robert W. Baird Issues Positive Forecast for Roku (NASDAQ:ROKU) Stock Price

Roku (NASDAQ:ROKU) had its price objective raised by Robert W. Baird from $110.00 to $120.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

ROKU has been the subject of several other research reports. Citigroup restated a “market outperform” rating on shares of Roku in a report on Monday, March 2nd. KeyCorp increased their price target on shares of Roku from $128.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, February 13th. JPMorgan Chase & Co. increased their price target on shares of Roku from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, December 12th. Evercore reiterated an “outperform” rating and set a $150.00 price target on shares of Roku in a research note on Friday, February 13th. Finally, Morgan Stanley set a $135.00 target price on shares of Roku and gave the company an “overweight” rating in a report on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Roku presently has an average rating of “Moderate Buy” and an average price target of $127.58.

Roku Trading Up 0.6%

Shares of Roku stock opened at $98.20 on Monday. The company has a fifty day simple moving average of $93.75 and a 200-day simple moving average of $99.50. Roku has a 12-month low of $52.43 and a 12-month high of $116.66. The stock has a market cap of $14.48 billion, a price-to-earnings ratio of 172.28 and a beta of 2.00.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, February 12th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.25. Roku had a net margin of 1.87% and a return on equity of 3.40%. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the prior year, the business posted ($0.24) EPS. The company’s revenue for the quarter was up 16.1% on a year-over-year basis. On average, analysts forecast that Roku will post -0.3 earnings per share for the current fiscal year.

Insider Transactions at Roku

In other news, CEO Anthony J. Wood sold 75,000 shares of the firm’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $109.61, for a total value of $8,220,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gilbert Fuchsberg sold 3,250 shares of Roku stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $95.57, for a total transaction of $310,602.50. Following the completion of the sale, the insider directly owned 60,456 shares in the company, valued at approximately $5,777,779.92. The trade was a 5.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 213,123 shares of company stock worth $21,397,410 over the last quarter. 13.98% of the stock is currently owned by corporate insiders.

Institutional Trading of Roku

Hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in shares of Roku by 680.0% in the fourth quarter. Blue Trust Inc. now owns 234 shares of the company’s stock valued at $25,000 after acquiring an additional 204 shares in the last quarter. Aventura Private Wealth LLC purchased a new stake in shares of Roku in the fourth quarter valued at about $26,000. Westfuller Advisors LLC purchased a new stake in shares of Roku in the third quarter valued at about $30,000. WPG Advisers LLC purchased a new stake in shares of Roku in the fourth quarter valued at about $31,000. Finally, Safe Harbor Fiduciary LLC purchased a new stake in shares of Roku in the fourth quarter valued at about $31,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Roku Company Profile

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.