Roku (NASDAQ:ROKU) PT Raised to $80.00 at Loop Capital

Roku (NASDAQ:ROKU) had its price objective raised by investment analysts at Loop Capital to $80.00 in a research report issued on Thursday, The Fly reports. The brokerage currently has a “sell” rating on the stock. Loop Capital’s price target points to a potential downside of 36.16% from the company’s previous close.

Several other research firms have also recently weighed in on ROKU. Royal Bank of Canada cut shares of Roku from an “outperform” rating to a “sector perform” rating and set a $90.00 price target for the company. in a research note on Monday, July 1st. They noted that the move was a valuation call. Stephens raised shares of Roku from an “equal” rating to an “overweight” rating and increased their price target for the company from $84.00 to $120.00 in a research note on Thursday. Susquehanna Bancshares assumed coverage on shares of Roku in a research note on Monday, April 22nd. They issued a “positive” rating and a $80.00 price target for the company. KeyCorp increased their price target on shares of Roku from $76.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, May 9th. Finally, Rosenblatt Securities reissued a “neutral” rating on shares of Roku in a research note on Thursday, May 9th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $101.31.

Shares of Roku stock traded up $3.29 during mid-day trading on Thursday, hitting $125.32. The stock had a trading volume of 14,514,520 shares, compared to its average volume of 8,409,639. The firm’s 50-day simple moving average is $102.57. Roku has a 12-month low of $26.30 and a 12-month high of $128.20. The company has a market cap of $11.45 billion, a price-to-earnings ratio of -1,566.50 and a beta of 2.04.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.14. Roku had a negative net margin of 2.41% and a negative return on equity of 7.91%. The business had revenue of $250.10 million during the quarter, compared to analysts’ expectations of $223.36 million. The business’s revenue for the quarter was up 59.5% on a year-over-year basis. As a group, equities analysts expect that Roku will post -0.57 EPS for the current year.

In other news, CEO Anthony J. Wood sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $90.52, for a total value of $3,168,200.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jeff Hastings sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $82.47, for a total transaction of $2,061,750.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 671,733 shares of company stock worth $67,177,042. Company insiders own 22.70% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Flagship Harbor Advisors LLC lifted its holdings in Roku by 64.5% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 477 shares of the company’s stock worth $43,000 after buying an additional 187 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Roku by 100.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 400 shares of the company’s stock worth $25,000 after buying an additional 200 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in Roku by 56.5% during the 2nd quarter. Golden State Wealth Management LLC now owns 900 shares of the company’s stock worth $81,000 after buying an additional 325 shares in the last quarter. James Investment Research Inc. lifted its holdings in Roku by 68.4% during the 2nd quarter. James Investment Research Inc. now owns 825 shares of the company’s stock worth $75,000 after buying an additional 335 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in Roku by 0.6% during the 1st quarter. Rhumbline Advisers now owns 55,926 shares of the company’s stock worth $3,608,000 after buying an additional 340 shares in the last quarter. Institutional investors own 50.27% of the company’s stock.

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: What are the risks of holding treasury bonds?

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.