Roku (NASDAQ:ROKU) PT Lowered to $75.00

Roku (NASDAQ:ROKU) had its price target reduced by Wedbush from $80.00 to $75.00 in a research note published on Friday morning, Benzinga reports. Wedbush currently has an outperform rating on the stock.

Several other analysts have also recently commented on the company. Wells Fargo & Company decreased their target price on Roku from $51.00 to $45.00 and set an underweight rating on the stock in a report on Friday, April 12th. Citigroup lowered their price objective on shares of Roku from $110.00 to $75.00 and set a neutral rating for the company in a research report on Wednesday, February 21st. Morgan Stanley reduced their target price on shares of Roku from $65.00 to $60.00 and set an underweight rating on the stock in a research report on Friday, April 5th. Stephens reissued an overweight rating and issued a $105.00 price target on shares of Roku in a report on Friday, February 16th. Finally, Benchmark dropped their price objective on shares of Roku from $115.00 to $105.00 and set a buy rating for the company in a research report on Friday. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $83.90.

Roku Stock Performance

ROKU opened at $56.35 on Friday. The firm has a market cap of $8.09 billion, a price-to-earnings ratio of -14.12 and a beta of 1.66. The firm’s 50-day simple moving average is $62.80 and its 200-day simple moving average is $78.48. Roku has a twelve month low of $51.62 and a twelve month high of $108.84.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, April 25th. The company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.64) by $0.29. The firm had revenue of $881.50 million for the quarter, compared to analysts’ expectations of $843.54 million. Roku had a negative net margin of 15.64% and a negative return on equity of 23.73%. The company’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.38) earnings per share. As a group, sell-side analysts anticipate that Roku will post -2.12 EPS for the current fiscal year.

Insider Buying and Selling at Roku

In other news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $98.64, for a total transaction of $2,466,000.00. Following the transaction, the chief executive officer now owns 141,221 shares in the company, valued at approximately $13,930,039.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Jeffrey M. Blackburn bought 8,000 shares of Roku stock in a transaction that occurred on Wednesday, March 13th. The stock was purchased at an average cost of $63.96 per share, with a total value of $511,680.00. Following the purchase, the director now owns 8,000 shares in the company, valued at $511,680. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $98.64, for a total value of $2,466,000.00. Following the completion of the sale, the chief executive officer now directly owns 141,221 shares in the company, valued at approximately $13,930,039.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,545 shares of company stock valued at $4,364,035. Company insiders own 13.63% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC bought a new stake in Roku in the 4th quarter valued at approximately $27,000. Creative Financial Designs Inc. ADV bought a new stake in shares of Roku in the fourth quarter worth $29,000. Quarry LP boosted its holdings in Roku by 160.2% during the fourth quarter. Quarry LP now owns 432 shares of the company’s stock worth $40,000 after purchasing an additional 266 shares during the last quarter. Federated Hermes Inc. acquired a new position in Roku during the third quarter worth $37,000. Finally, Headinvest LLC bought a new position in Roku in the third quarter valued at $42,000. 86.30% of the stock is owned by institutional investors and hedge funds.

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.