Roku (NASDAQ:ROKU) Given New $172.00 Price Target at UBS Group

Roku (NASDAQ:ROKU) had its price target hoisted by stock analysts at UBS Group from $126.00 to $172.00 in a report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price target would suggest a potential upside of 12.34% from the stock’s current price.

A number of other research analysts also recently commented on ROKU. KeyCorp lowered Roku from an “overweight” rating to a “sector weight” rating in a research report on Monday, June 15th. Needham & Company LLC reaffirmed a “buy” rating on shares of Roku in a research note on Friday. Morgan Stanley lifted their target price on Roku from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, June 4th. Piper Sandler cut shares of Roku from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $148.00 to $160.00 in a research report on Tuesday, June 16th. Finally, Susquehanna downgraded Roku from a “positive” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a research report on Tuesday, June 16th. Eight analysts have rated the stock with a Buy rating and nineteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Roku has an average rating of “Hold” and an average price target of $156.25.

Roku Stock Performance

NASDAQ:ROKU opened at $153.11 on Friday. The stock has a 50-day moving average price of $138.39 and a 200 day moving average price of $116.38. Roku has a 12-month low of $78.53 and a 12-month high of $153.54. The stock has a market capitalization of $22.57 billion, a P/E ratio of 65.43 and a beta of 2.01.

Roku (NASDAQ:ROKU) last released its earnings results on Wednesday, August 5th. The company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.61 by $0.47. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.30 billion. Roku had a net margin of 6.82% and a return on equity of 13.73%. The company’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.07 earnings per share. On average, research analysts predict that Roku will post 2.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Roku news, insider Gilbert Fuchsberg sold 10,719 shares of Roku stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $150.00, for a total transaction of $1,607,850.00. Following the completion of the transaction, the insider owned 40,380 shares in the company, valued at approximately $6,057,000. This trade represents a 20.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $130.00, for a total value of $3,250,000.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 162,452 shares of company stock worth $21,811,132 in the last quarter. 13.45% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Roku

Several institutional investors and hedge funds have recently modified their holdings of the business. Empowered Funds LLC raised its position in Roku by 18.6% during the first quarter. Empowered Funds LLC now owns 3,291 shares of the company’s stock worth $232,000 after acquiring an additional 515 shares during the period. Focus Partners Wealth purchased a new stake in shares of Roku in the 1st quarter valued at approximately $229,000. EverSource Wealth Advisors LLC increased its stake in Roku by 145.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company’s stock worth $123,000 after acquiring an additional 826 shares during the last quarter. First Trust Advisors LP raised its holdings in Roku by 231.0% in the 2nd quarter. First Trust Advisors LP now owns 70,786 shares of the company’s stock valued at $6,221,000 after buying an additional 49,399 shares during the period. Finally, Brown Advisory Inc. acquired a new position in shares of Roku in the 2nd quarter worth approximately $326,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

About Roku

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.