UBS Group Raises Roku (NASDAQ:ROKU) Price Target to $90.00

Roku (NASDAQ:ROKU) had its price target upped by stock analysts at UBS Group from $73.00 to $90.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s target price would indicate a potential downside of 9.16% from the company’s previous close.

A number of other analysts also recently issued reports on ROKU. Morgan Stanley raised their target price on Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 29th. Macquarie restated an “outperform” rating and issued a $90.00 price objective on shares of Roku in a research note on Thursday, October 31st. Piper Sandler lifted their target price on shares of Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Loop Capital upped their price target on shares of Roku from $70.00 to $80.00 and gave the company a “hold” rating in a research note on Monday, December 9th. Finally, JMP Securities lifted their price objective on shares of Roku from $95.00 to $115.00 and gave the company a “market outperform” rating in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Roku currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.18.

Roku Price Performance

NASDAQ ROKU opened at $99.07 on Friday. The business’s fifty day moving average is $80.56 and its 200-day moving average is $73.76. The stock has a market capitalization of $14.38 billion, a price-to-earnings ratio of -82.56 and a beta of 2.05. Roku has a one year low of $48.33 and a one year high of $104.96.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.20. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Research analysts expect that Roku will post -1.09 EPS for the current fiscal year.

Insider Transactions at Roku

In other Roku news, insider Charles Collier sold 10,771 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $71.14, for a total transaction of $766,248.94. Following the transaction, the insider now directly owns 3,790 shares in the company, valued at $269,620.60. This trade represents a 73.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Matthew C. Banks sold 8,693 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $71.44, for a total transaction of $621,027.92. Following the completion of the sale, the chief accounting officer now owns 7,264 shares of the company’s stock, valued at approximately $518,940.16. The trade was a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 97,885 shares of company stock worth $7,911,162. 13.98% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC grew its position in Roku by 31.7% during the 4th quarter. FMR LLC now owns 19,183,942 shares of the company’s stock worth $1,426,134,000 after acquiring an additional 4,613,570 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Roku by 663.9% in the fourth quarter. Marshall Wace LLP now owns 2,335,813 shares of the company’s stock worth $173,644,000 after purchasing an additional 2,030,036 shares during the last quarter. Holocene Advisors LP purchased a new position in shares of Roku in the third quarter worth $129,015,000. Westfield Capital Management Co. LP raised its holdings in Roku by 126.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock valued at $114,646,000 after buying an additional 856,401 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC boosted its position in Roku by 214.1% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 864,974 shares of the company’s stock valued at $64,302,000 after buying an additional 589,610 shares during the period. 86.30% of the stock is owned by institutional investors.

Roku Company Profile

Roku, Inc, together with its subsidiaries, operates a TV streaming platform in the United states and internationally. The company operates in two segments, Platform and Devices. Its streaming platform allows users to find and access TV shows, movies, news, sports, and others. The Platform segment offers digital advertising, including direct and programmatic video advertising, media and entertainment promotional spending, and related services; and streaming services distribution, such as subscription and transaction revenue shares, and sale of premium subscriptions and branded app buttons on remote controls.