Roku (NASDAQ:ROKU) Price Target Raised to at Royal Bank of Canada

Share on StockTwits

Roku (NASDAQ:ROKU) had its price objective lifted by Royal Bank of Canada to in a report released on Friday, The Fly reports. The firm currently has an “outperform” rating on the stock.

Other equities analysts have also recently issued reports about the stock. Bank of America boosted their price objective on shares of Roku from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, November 15th. William Blair reiterated a “buy” rating on shares of Roku in a research report on Tuesday, December 17th. Guggenheim decreased their price objective on shares of Roku from $170.00 to $150.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Needham & Company LLC restated a “buy” rating and issued a $200.00 target price on shares of Roku in a report on Wednesday. Finally, Macquarie upped their target price on shares of Roku from $130.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Five research analysts have rated the stock with a sell rating, three have issued a hold rating and sixteen have given a buy rating to the company. Roku has a consensus rating of “Hold” and an average target price of $131.48.

Roku stock traded down $8.80 during trading on Friday, reaching $130.25. The stock had a trading volume of 63,486,424 shares, compared to its average volume of 12,751,469. Roku has a 52-week low of $50.81 and a 52-week high of $176.55. The business has a 50 day moving average price of $131.74 and a 200 day moving average price of $133.74. The stock has a market cap of $15.54 billion, a PE ratio of -383.08 and a beta of 1.64.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.01. The business had revenue of $411.23 million during the quarter, compared to the consensus estimate of $392.43 million. Roku had a negative net margin of 3.77% and a negative return on equity of 9.79%. As a group, sell-side analysts expect that Roku will post -0.53 EPS for the current fiscal year.

In other news, CEO Anthony J. Wood sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $136.86, for a total transaction of $4,790,100.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Steve Louden sold 95,789 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $155.95, for a total value of $14,938,294.55. Following the sale, the chief financial officer now owns 95,789 shares in the company, valued at $14,938,294.55. The disclosure for this sale can be found here. Insiders sold a total of 210,081 shares of company stock worth $30,803,764 over the last three months. 22.70% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. FMR LLC raised its holdings in Roku by 43.5% during the 4th quarter. FMR LLC now owns 9,227,467 shares of the company’s stock valued at $1,235,558,000 after acquiring an additional 2,795,202 shares during the period. BlackRock Inc. raised its holdings in Roku by 17.4% during the 2nd quarter. BlackRock Inc. now owns 3,962,459 shares of the company’s stock valued at $358,918,000 after acquiring an additional 588,499 shares during the period. Baillie Gifford & Co. raised its holdings in Roku by 6.2% during the 4th quarter. Baillie Gifford & Co. now owns 2,367,078 shares of the company’s stock valued at $316,952,000 after acquiring an additional 139,135 shares during the period. State Street Corp raised its holdings in Roku by 1.2% during the 4th quarter. State Street Corp now owns 1,756,840 shares of the company’s stock valued at $235,241,000 after acquiring an additional 21,163 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Roku by 78.7% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 877,255 shares of the company’s stock valued at $117,464,000 after acquiring an additional 386,250 shares during the period. 53.39% of the stock is currently owned by institutional investors and hedge funds.

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.

Read More: Why do analysts give a neutral rating?

The Fly

Analyst Recommendations for Roku (NASDAQ:ROKU)

Receive News & Ratings for Roku Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Roku and related companies with MarketBeat.com's FREE daily email newsletter.