Royal Bank of Canada Raises Roku (NASDAQ:ROKU) Price Target to $160.00

Roku (NASDAQ:ROKU) had its price objective lifted by Royal Bank of Canada from $155.00 to $160.00 in a research report released on Thursday, The Fly reports. The brokerage currently has an outperform rating on the stock.

Other analysts have also recently issued reports about the stock. Oppenheimer increased their target price on shares of Roku from $120.00 to $155.00 and gave the stock an outperform rating in a research note on Friday, September 20th. BidaskClub upgraded shares of Roku from a buy rating to a strong-buy rating in a research note on Wednesday, August 28th. Rosenblatt Securities increased their target price on shares of Roku from $134.00 to $159.00 and gave the stock a buy rating in a research note on Tuesday, November 5th. Guggenheim increased their target price on shares of Roku from $119.00 to $170.00 and gave the stock a buy rating in a research note on Wednesday, September 18th. Finally, Zacks Investment Research upgraded shares of Roku from a hold rating to a strong-buy rating and set a $122.00 target price on the stock in a research note on Wednesday, October 9th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Roku presently has a consensus rating of Buy and a consensus target price of $120.48.

ROKU stock traded up $3.48 during trading on Thursday, reaching $121.94. The stock had a trading volume of 19,209,400 shares, compared to its average volume of 14,366,427. Roku has a one year low of $26.30 and a one year high of $176.55. The company has a market capitalization of $16.22 billion, a price-to-earnings ratio of -1,524.25 and a beta of 1.77. The company’s 50 day moving average is $122.41 and its two-hundred day moving average is $110.52.

Roku (NASDAQ:ROKU) last posted its earnings results on Wednesday, November 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.06. Roku had a negative net margin of 2.41% and a negative return on equity of 6.77%. The business had revenue of $260.90 million for the quarter, compared to analysts’ expectations of $257.64 million. During the same period in the prior year, the company posted ($0.09) EPS. The business’s revenue for the quarter was up 50.5% compared to the same quarter last year. Equities research analysts anticipate that Roku will post -0.5 EPS for the current year.

In other news, CEO Anthony J. Wood sold 35,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $139.57, for a total value of $4,884,950.00. Also, SVP Stephen H. Kay sold 12,000 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $137.75, for a total transaction of $1,653,000.00. The disclosure for this sale can be found here. Insiders sold a total of 180,419 shares of company stock worth $24,801,276 in the last three months. Insiders own 22.70% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. First Allied Advisory Services Inc. bought a new position in shares of Roku during the 3rd quarter valued at $350,000. Rational Advisors LLC bought a new position in shares of Roku during the 3rd quarter valued at $780,000. Catalyst Capital Advisors LLC grew its holdings in shares of Roku by 59.4% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 322 shares of the company’s stock valued at $33,000 after purchasing an additional 120 shares during the last quarter. Mengis Capital Management Inc. bought a new position in shares of Roku during the 3rd quarter valued at $323,000. Finally, Prime Capital Investment Advisors LLC grew its holdings in shares of Roku by 476.9% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 15,000 shares of the company’s stock valued at $1,526,000 after purchasing an additional 12,400 shares during the last quarter. 52.94% of the stock is currently owned by institutional investors.

Roku Company Profile

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.

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Analyst Recommendations for Roku (NASDAQ:ROKU)

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