Robert W. Baird Boosts Roku (NASDAQ:ROKU) Price Target to $120.00

Roku (NASDAQ:ROKU) had its price objective upped by research analysts at Robert W. Baird from $110.00 to $120.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price target would suggest a potential upside of 21.79% from the company’s previous close.

Several other research firms have also recently weighed in on ROKU. Needham & Company LLC restated a “buy” rating and set a $110.00 target price on shares of Roku in a research note on Friday, February 13th. Stifel Nicolaus set a $160.00 target price on Roku in a research note on Monday, March 2nd. Arete Research set a $132.00 target price on Roku and gave the stock a “buy” rating in a research note on Monday, January 5th. UBS Group restated a “neutral” rating and set a $110.00 target price on shares of Roku in a research note on Friday, February 13th. Finally, Evercore restated an “outperform” rating and set a $150.00 target price on shares of Roku in a research note on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $127.58.

Roku Stock Up 0.3%

ROKU stock opened at $98.53 on Monday. The business has a 50 day moving average price of $93.63 and a 200 day moving average price of $99.48. The stock has a market cap of $14.53 billion, a price-to-earnings ratio of 172.86 and a beta of 2.00. Roku has a fifty-two week low of $54.18 and a fifty-two week high of $116.66.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, February 12th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.25. The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Roku had a return on equity of 3.40% and a net margin of 1.87%.The firm’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.24) earnings per share. As a group, sell-side analysts anticipate that Roku will post -0.3 EPS for the current year.

Insider Activity at Roku

In other Roku news, SVP Christopher T. Handman sold 2,999 shares of Roku stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $95.57, for a total transaction of $286,614.43. Following the transaction, the senior vice president owned 2,999 shares of the company’s stock, valued at $286,614.43. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Anthony J. Wood sold 75,000 shares of Roku stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $109.61, for a total value of $8,220,750.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 213,123 shares of company stock valued at $21,397,410 over the last 90 days. 13.98% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. CWM LLC increased its holdings in shares of Roku by 345.4% in the third quarter. CWM LLC now owns 84,010 shares of the company’s stock valued at $8,412,000 after purchasing an additional 65,150 shares during the period. Accurate Wealth Management LLC acquired a new position in shares of Roku in the third quarter valued at approximately $1,115,000. AGF Management Ltd. acquired a new position in shares of Roku in the third quarter valued at approximately $15,023,000. Convergence Investment Partners LLC acquired a new position in shares of Roku in the third quarter valued at approximately $2,492,000. Finally, Holocene Advisors LP increased its holdings in shares of Roku by 352.3% in the third quarter. Holocene Advisors LP now owns 1,650,448 shares of the company’s stock valued at $165,259,000 after purchasing an additional 1,285,585 shares during the period. Institutional investors and hedge funds own 86.30% of the company’s stock.

Roku Company Profile

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.