Roku (NASDAQ:ROKU) Rating Reiterated by Piper Sandler

Roku (NASDAQ:ROKU)‘s stock had its “neutral” rating reiterated by Piper Sandler in a report released on Friday, Benzinga reports. They currently have a $65.00 price target on the stock, down from their previous price target of $81.00. Piper Sandler’s target price indicates a potential upside of 14.02% from the company’s current price.

Several other research analysts have also recently commented on the stock. Susquehanna raised their target price on shares of Roku from $100.00 to $110.00 and gave the stock a “positive” rating in a report on Friday, February 16th. Rosenblatt Securities reiterated a “neutral” rating and set a $89.00 price objective on shares of Roku in a research note on Friday. Oppenheimer lowered shares of Roku from an “outperform” rating to a “market perform” rating in a research report on Friday, February 16th. Citigroup cut their target price on Roku from $110.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, February 21st. Finally, Pivotal Research lowered their price target on Roku from $85.00 to $75.00 and set a “hold” rating for the company in a report on Friday, February 16th. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $83.81.

Roku Trading Down 9.2 %

Shares of NASDAQ:ROKU traded down $5.80 during trading on Friday, reaching $57.01. 6,713,274 shares of the stock were exchanged, compared to its average volume of 5,653,854. The firm has a market cap of $8.18 billion, a PE ratio of -11.45 and a beta of 1.66. Roku has a 12 month low of $51.62 and a 12 month high of $108.84. The stock has a 50-day moving average price of $63.11 and a 200-day moving average price of $78.59.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, April 25th. The company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.29. Roku had a negative return on equity of 29.21% and a negative net margin of 20.36%. The firm had revenue of $881.50 million for the quarter, compared to analyst estimates of $843.54 million. During the same period in the prior year, the firm posted ($1.38) EPS. The company’s revenue for the quarter was up 19.0% on a year-over-year basis. On average, sell-side analysts expect that Roku will post -2.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Jeffrey M. Blackburn acquired 8,000 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was purchased at an average price of $63.96 per share, for a total transaction of $511,680.00. Following the completion of the acquisition, the director now directly owns 8,000 shares in the company, valued at approximately $511,680. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In other Roku news, SVP Stephen H. Kay sold 4,310 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $63.20, for a total value of $272,392.00. Following the sale, the senior vice president now directly owns 81,459 shares in the company, valued at approximately $5,148,208.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey M. Blackburn acquired 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were acquired at an average cost of $63.96 per share, with a total value of $511,680.00. Following the purchase, the director now directly owns 8,000 shares of the company’s stock, valued at approximately $511,680. The disclosure for this purchase can be found here. In the last three months, insiders have sold 54,545 shares of company stock valued at $4,364,035. 13.63% of the stock is owned by company insiders.

Institutional Investors Weigh In On Roku

A number of institutional investors have recently made changes to their positions in ROKU. SG Americas Securities LLC purchased a new position in Roku during the third quarter valued at $1,536,000. Meridian Wealth Management LLC bought a new stake in Roku in the 3rd quarter worth approximately $234,000. Oak Thistle LLC purchased a new position in shares of Roku in the third quarter valued at $297,000. Handelsbanken Fonder AB raised its stake in Roku by 8.1% during the third quarter. Handelsbanken Fonder AB now owns 21,300 shares of the company’s stock valued at $1,504,000 after purchasing an additional 1,600 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in shares of Roku by 209.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 105,339 shares of the company’s stock worth $7,436,000 after buying an additional 71,257 shares during the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Roku Company Profile

Roku, Inc, together with its subsidiaries, operates a TV streaming platform in the United states and internationally. The company operates in two segments, Platform and Devices. Its streaming platform allows users to find and access TV shows, movies, news, sports, and others. The Platform segment offers digital advertising, including direct and programmatic video advertising, media and entertainment promotional spending, and related services; and streaming services distribution, such as subscription and transaction revenue shares, and sale of premium subscriptions and branded app buttons on remote controls.