Roku (NASDAQ:ROKU) Receives Buy Rating from Rosenblatt Securities

Roku (NASDAQ:ROKU)‘s stock had its “buy” rating reaffirmed by investment analysts at Rosenblatt Securities in a report issued on Monday,Benzinga reports. They currently have a $160.00 price target on the stock. Rosenblatt Securities’ target price would indicate a potential upside of 4.50% from the stock’s current price.

Several other research analysts have also recently issued reports on ROKU. Benchmark raised their target price on Roku from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. UBS Group set a $160.00 price target on shares of Roku in a research report on Monday, June 15th. Citigroup increased their price objective on shares of Roku from $120.00 to $157.00 and gave the stock a “neutral” rating in a research note on Friday, July 17th. Oppenheimer downgraded shares of Roku from an “outperform” rating to a “market perform” rating in a report on Monday, June 15th. Finally, Wolfe Research lowered shares of Roku from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, June 16th. Eight research analysts have rated the stock with a Buy rating and nineteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $156.25.

Roku Price Performance

ROKU stock opened at $153.11 on Monday. The company has a market cap of $22.57 billion, a P/E ratio of 65.43 and a beta of 2.01. Roku has a 1 year low of $78.53 and a 1 year high of $153.54. The stock’s fifty day moving average price is $138.39 and its 200-day moving average price is $116.38.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.61 by $0.47. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.30 billion. Roku had a return on equity of 13.73% and a net margin of 6.82%.Roku’s revenue was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 earnings per share. As a group, analysts expect that Roku will post 2.41 earnings per share for the current year.

Insider Activity at Roku

In other news, Director Neil D. Hunt sold 2,000 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $146.25, for a total value of $292,500.00. Following the completion of the sale, the director directly owned 9,629 shares of the company’s stock, valued at $1,408,241.25. This represents a 17.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gilbert Fuchsberg sold 10,719 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $150.00, for a total transaction of $1,607,850.00. Following the sale, the insider owned 40,380 shares in the company, valued at $6,057,000. The trade was a 20.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 162,452 shares of company stock worth $21,811,132 in the last 90 days. Insiders own 13.45% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Bayban increased its stake in Roku by 1,300.0% in the 1st quarter. Bayban now owns 280 shares of the company’s stock worth $26,000 after buying an additional 260 shares in the last quarter. WPG Advisers LLC purchased a new position in shares of Roku in the fourth quarter valued at about $31,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Roku in the fourth quarter valued at about $31,000. Rakuten Securities Inc. boosted its stake in shares of Roku by 55.6% in the second quarter. Rakuten Securities Inc. now owns 442 shares of the company’s stock worth $39,000 after acquiring an additional 158 shares during the period. Finally, Elevation Wealth Partners LLC boosted its stake in shares of Roku by 208.7% in the second quarter. Elevation Wealth Partners LLC now owns 318 shares of the company’s stock worth $44,000 after acquiring an additional 215 shares during the period. Institutional investors own 86.30% of the company’s stock.

About Roku

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.