Roku’s (ROKU) “Hold” Rating Reiterated at Wedbush

Wedbush reissued their hold rating on shares of Roku (NASDAQ:ROKU) in a research note released on Thursday morning, AnalystRatings.com reports. The firm currently has a $105.00 target price on the stock. Wedbush also issued estimates for Roku’s FY2021 earnings at $0.18 EPS.

A number of other research firms have also recently commented on ROKU. Zacks Investment Research upgraded shares of Roku from a hold rating to a strong-buy rating and set a $91.00 price target on the stock in a report on Wednesday, May 15th. Loop Capital raised their target price on shares of Roku to $80.00 and gave the stock a sell rating in a report on Thursday. Needham & Company LLC restated a buy rating and issued a $120.00 target price (up previously from $85.00) on shares of Roku in a report on Wednesday, May 29th. Susquehanna Bancshares assumed coverage on shares of Roku in a report on Monday, April 22nd. They issued a positive rating and a $80.00 target price on the stock. Finally, Rosenblatt Securities restated a neutral rating on shares of Roku in a report on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company. Roku has a consensus rating of Hold and an average target price of $101.31.

Shares of NASDAQ:ROKU traded up $3.29 during trading on Thursday, reaching $125.32. 14,514,520 shares of the stock traded hands, compared to its average volume of 9,337,820. The firm’s 50-day moving average price is $102.57. Roku has a 52-week low of $26.30 and a 52-week high of $128.20. The company has a market capitalization of $13.84 billion, a PE ratio of -1,566.50 and a beta of 2.04.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.14. Roku had a negative net margin of 2.41% and a negative return on equity of 7.91%. The firm had revenue of $250.10 million for the quarter, compared to analysts’ expectations of $223.36 million. The business’s revenue was up 59.5% on a year-over-year basis. Equities research analysts predict that Roku will post -0.58 EPS for the current year.

In other news, SVP Stephen H. Kay sold 32,000 shares of Roku stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $81.77, for a total transaction of $2,616,640.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeff Hastings sold 2,222 shares of Roku stock in a transaction on Friday, May 31st. The stock was sold at an average price of $92.00, for a total transaction of $204,424.00. The disclosure for this sale can be found here. Insiders have sold a total of 671,733 shares of company stock worth $67,177,042 in the last quarter. Corporate insiders own 22.70% of the company’s stock.

Several hedge funds have recently made changes to their positions in ROKU. PNC Financial Services Group Inc. raised its position in shares of Roku by 100.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 400 shares of the company’s stock valued at $25,000 after purchasing an additional 200 shares during the period. CWM LLC bought a new stake in shares of Roku during the 1st quarter valued at $32,000. James Investment Research Inc. bought a new stake in shares of Roku during the 1st quarter valued at $32,000. Wealthcare Advisory Partners LLC raised its position in shares of Roku by 1,000.0% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 550 shares of the company’s stock valued at $35,000 after purchasing an additional 500 shares during the period. Finally, Mascoma Wealth Management LLC bought a new stake in shares of Roku during the 1st quarter valued at $42,000. Hedge funds and other institutional investors own 50.27% of the company’s stock.

About Roku

Roku, Inc operates a TV streaming platform. The company operates in two segments, Platform and Player. Its platform allows users to discover and access various movies and TV episodes, as well as live sports, music, news, and others. As of December 31, 2018, the company had 27.1 million active accounts.

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Analyst Recommendations for Roku (NASDAQ:ROKU)

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