Roku Inc (NASDAQ:ROKU) Receives $84.11 Average Price Target from Brokerages

Shares of Roku Inc (NASDAQ:ROKU) have received an average recommendation of “Hold” from the twenty research firms that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $84.11.

A number of analysts have recently issued reports on ROKU shares. Morgan Stanley increased their price objective on shares of Roku from $46.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Friday, May 10th. ValuEngine cut shares of Roku from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. BidaskClub cut shares of Roku from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Wedbush reissued a “neutral” rating and issued a $105.00 price objective on shares of Roku in a research note on Wednesday, July 31st. Finally, Rosenblatt Securities reissued a “neutral” rating on shares of Roku in a research note on Thursday, May 9th.

In related news, Director Jeff Hastings sold 15,000 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $78.67, for a total transaction of $1,180,050.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Anthony J. Wood sold 400,000 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $103.35, for a total transaction of $41,340,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 676,733 shares of company stock valued at $67,106,092. 22.70% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. boosted its position in shares of Roku by 100.0% during the first quarter. PNC Financial Services Group Inc. now owns 400 shares of the company’s stock worth $25,000 after acquiring an additional 200 shares during the last quarter. Joseph P. Lucia & Associates LLC bought a new position in Roku during the second quarter valued at $43,000. Flagship Harbor Advisors LLC lifted its position in Roku by 64.5% during the second quarter. Flagship Harbor Advisors LLC now owns 477 shares of the company’s stock valued at $43,000 after purchasing an additional 187 shares during the last quarter. James Investment Research Inc. bought a new position in Roku during the first quarter valued at $32,000. Finally, CWM LLC bought a new position in Roku during the first quarter valued at $32,000. Hedge funds and other institutional investors own 50.27% of the company’s stock.

Shares of NASDAQ ROKU opened at $100.00 on Friday. The stock has a fifty day moving average price of $101.87. The stock has a market capitalization of $11.40 billion, a PE ratio of -1,250.00 and a beta of 2.04. Roku has a 1 year low of $26.30 and a 1 year high of $113.44.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.15. The firm had revenue of $206.70 million during the quarter, compared to analysts’ expectations of $189.80 million. Roku had a negative net margin of 1.47% and a negative return on equity of 4.60%. The company’s revenue for the quarter was up 51.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.07) earnings per share. On average, analysts forecast that Roku will post -0.57 earnings per share for the current year.

About Roku

Roku, Inc operates a TV streaming platform. The company operates in two segments, Platform and Player. Its platform allows users to discover and access various movies and TV episodes, as well as live sports, music, news, and others. As of December 31, 2018, the company had 27.1 million active accounts.

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Analyst Recommendations for Roku (NASDAQ:ROKU)

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