On March 14, 2023, Wolfe Research upgraded their outlook for Roku (NASDAQ:ROKU) from Underperform to Peer Perform.

Analyst Price Forecast Suggests 12.33% Upside

As of March 15, 2023, the average one-year price target for Roku is $69.33. The forecasts range from a low of $36.36 to a high of $93.45. The average price target represents an increase of 12.33% from its latest reported closing price of $61.72.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Roku is $3,324MM, an increase of 6.32%. The projected annual non-GAAP EPS is -$4.13.

What are Large Shareholders Doing?

ARK Investment Management holds 12,115K shares representing 8.65% ownership of the company. In it’s prior filing, the firm reported owning 11,918K shares, representing an increase of 1.63%. The firm decreased its portfolio allocation in ROKU by 8.80% over the last quarter.

ARKK – ARK Innovation ETF holds 9,132K shares representing 6.52% ownership of the company. In it’s prior filing, the firm reported owning 9,112K shares, representing an increase of 0.22%. The firm increased its portfolio allocation in ROKU by 3.37% over the last quarter.

Sumitomo Mitsui Trust Holdings holds 7,847K shares representing 5.60% ownership of the company. In it’s prior filing, the firm reported owning 7,403K shares, representing an increase of 5.66%. The firm decreased its portfolio allocation in ROKU by 26.98% over the last quarter.

Nikko Asset Management Americas holds 7,512K shares representing 5.36% ownership of the company. In it’s prior filing, the firm reported owning 7,069K shares, representing an increase of 5.89%. The firm decreased its portfolio allocation in ROKU by 14.18% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 3,692K shares representing 2.63% ownership of the company. In it’s prior filing, the firm reported owning 3,609K shares, representing an increase of 2.25%. The firm decreased its portfolio allocation in ROKU by 31.83% over the last quarter.

What is the Fund Sentiment?

There are 850 funds or institutions reporting positions in Roku. This is a decrease of 102 owner(s) or 10.71% in the last quarter. Average portfolio weight of all funds dedicated to ROKU is 0.22%, an increase of 0.20%. Total shares owned by institutions increased in the last three months by 0.52% to 114,932K shares. The put/call ratio of ROKU is 1.09, indicating a bearish outlook.

Roku Background Information
(This description is provided by the company.)

Roku pioneered streaming to the TV. We connect users to the streaming content they love, enable content publishers to build and monetize large audiences, and provide advertisers with unique capabilities to engage consumers. Roku streaming players and TV-related audio devices are available in the U.S. and in select countries through direct retail sales and licensing arrangements with service operators. Roku TV™ models are available in the U.S. and in select countries through licensing arrangements with TV OEM brands. Roku is headquartered in San Jose, Calif. U.S.A.

This article originally appeared on Fintel

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