Roku, Inc. (NASDAQ:ROKU) Stock Has Average Price Target of $156.17

Shares of Roku, Inc. (NASDAQ:ROKU) have earned a consensus recommendation of “Hold” from the twenty-seven analysts that are covering the stock, MarketBeat.com reports. Nineteen research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $156.17.

Several research firms have recently issued reports on ROKU. Wells Fargo & Company restated an “equal weight” rating and issued a $165.00 price target (down from $167.00) on shares of Roku in a research report on Friday, August 14th. Piper Sandler downgraded Roku from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $148.00 to $160.00 in a report on Tuesday, June 16th. Zacks Research raised Roku from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Citizens Jmp lowered Roku from a “market outperform” rating to a “hold” rating in a research note on Tuesday, June 16th. Finally, UBS Group raised their target price on Roku from $126.00 to $172.00 and gave the stock a “neutral” rating in a report on Friday, August 7th.

Insider Activity at Roku

In other news, insider Mustafa Ozgen sold 3,410 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $155.64, for a total value of $530,732.40. Following the completion of the sale, the insider directly owned 25,569 shares of the company’s stock, valued at $3,979,559.16. This represents a 11.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Christopher Handman sold 2,999 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $155.64, for a total transaction of $466,764.36. Following the completion of the sale, the senior vice president owned 8,997 shares in the company, valued at $1,400,293.08. This represents a 25.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 112,285 shares of company stock worth $17,154,985. 13.45% of the stock is owned by company insiders.

Institutional Investors Weigh In On Roku

Several large investors have recently bought and sold shares of ROKU. Contravisory Investment Management Inc. raised its holdings in Roku by 2.8% in the third quarter. Contravisory Investment Management Inc. now owns 8,809 shares of the company’s stock worth $1,341,000 after purchasing an additional 240 shares during the period. NorthCrest Asset Manangement LLC boosted its position in shares of Roku by 11.4% during the third quarter. NorthCrest Asset Manangement LLC now owns 3,101 shares of the company’s stock worth $477,000 after purchasing an additional 317 shares in the last quarter. Wedmont Private Capital grew its holdings in shares of Roku by 26.4% in the 3rd quarter. Wedmont Private Capital now owns 2,354 shares of the company’s stock valued at $362,000 after buying an additional 491 shares during the period. Apella Capital LLC grew its holdings in shares of Roku by 1.4% in the 3rd quarter. Apella Capital LLC now owns 6,752 shares of the company’s stock valued at $1,031,000 after buying an additional 93 shares during the period. Finally, Elevation Wealth Partners LLC grew its holdings in shares of Roku by 52.5% in the 3rd quarter. Elevation Wealth Partners LLC now owns 485 shares of the company’s stock valued at $74,000 after buying an additional 167 shares during the period. Institutional investors own 86.30% of the company’s stock.

Roku Stock Performance

Shares of ROKU stock opened at $152.66 on Friday. The firm’s 50 day moving average price is $154.55 and its two-hundred day moving average price is $136.17. Roku has a 52-week low of $78.53 and a 52-week high of $159.89. The stock has a market cap of $22.66 billion, a PE ratio of 62.63 and a beta of 2.05.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, August 6th. The company reported $1.08 EPS for the quarter, beating the consensus estimate of $0.61 by $0.47. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Roku had a net margin of 6.82% and a return on equity of 13.73%. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 EPS. As a group, sell-side analysts predict that Roku will post 2.92 earnings per share for the current fiscal year.

Roku Company Profile

Roku, Inc develops and operates a television streaming platform that connects consumers with digital entertainment. Its platform enables users to access streaming services, live television, movies, music and other content through Roku devices and Roku-powered televisions.

The company offers Roku streaming players, Roku-branded televisions and the Roku operating system, which it licenses to television manufacturers. Roku also operates The Roku Channel, an ad-supported streaming service offering movies, television programs, news, live channels and other content.