Roku (NASDAQ:ROKU) Price Target Raised to $140.00 at Bank of America

Roku (NASDAQ:ROKU) had its target price hoisted by analysts at Bank of America from $115.00 to $140.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s target price would indicate a potential upside of 29.78% from the company’s current price.

Several other equities research analysts also recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Roku in a report on Wednesday, October 8th. Morgan Stanley set a $135.00 price objective on Roku and gave the company an “overweight” rating in a report on Tuesday, December 16th. Arete Research set a $132.00 target price on shares of Roku and gave the company a “buy” rating in a research report on Monday, January 5th. Citizens Jmp reissued a “market outperform” rating and set a $145.00 price target on shares of Roku in a research note on Tuesday, December 2nd. Finally, KeyCorp reiterated an “overweight” rating and issued a $116.00 price target on shares of Roku in a report on Tuesday, October 28th. Twenty-three analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $119.32.

Roku Price Performance

Shares of ROKU stock traded down $3.30 during midday trading on Monday, hitting $107.87. The company had a trading volume of 924,023 shares, compared to its average volume of 2,742,755. The stock has a market cap of $15.94 billion, a price-to-earnings ratio of -539.34 and a beta of 1.95. The company’s 50 day simple moving average is $104.14 and its 200 day simple moving average is $97.36. Roku has a 52-week low of $52.43 and a 52-week high of $116.66.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, October 30th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.09. Roku had a negative return on equity of 1.08% and a negative net margin of 0.61%.The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the company earned ($0.06) earnings per share. Roku’s revenue was up 14.0% compared to the same quarter last year. Analysts anticipate that Roku will post -0.3 EPS for the current year.

Insider Activity at Roku

In other news, CAO Matthew C. Banks sold 729 shares of Roku stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $109.04, for a total transaction of $79,490.16. Following the completion of the transaction, the chief accounting officer directly owned 5,825 shares in the company, valued at $635,158. This trade represents a 11.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gilbert Fuchsberg sold 3,250 shares of Roku stock in a transaction on Friday, December 12th. The stock was sold at an average price of $108.78, for a total transaction of $353,535.00. Following the transaction, the insider directly owned 59,094 shares in the company, valued at $6,428,245.32. This represents a 5.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 318,282 shares of company stock worth $34,335,889 over the last quarter. 13.98% of the stock is owned by company insiders.

Institutional Trading of Roku

Several hedge funds have recently made changes to their positions in the company. Aventura Private Wealth LLC bought a new stake in Roku in the fourth quarter valued at approximately $26,000. Westfuller Advisors LLC purchased a new position in Roku during the 3rd quarter valued at about $30,000. Root Financial Partners LLC bought a new stake in Roku during the third quarter worth about $33,000. Rakuten Securities Inc. grew its holdings in Roku by 55.6% in the second quarter. Rakuten Securities Inc. now owns 442 shares of the company’s stock worth $39,000 after purchasing an additional 158 shares during the period. Finally, JFS Wealth Advisors LLC increased its stake in shares of Roku by 327.1% during the second quarter. JFS Wealth Advisors LLC now owns 457 shares of the company’s stock valued at $40,000 after purchasing an additional 350 shares in the last quarter. 86.30% of the stock is currently owned by institutional investors.

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.