Benchmark Reiterates Buy Rating for Roku (NASDAQ:ROKU)

Benchmark reaffirmed their buy rating on shares of Roku (NASDAQ:ROKU) in a research note issued to investors on Friday morning, Benzinga reports. They currently have a $115.00 target price on the stock.

ROKU has been the topic of a number of other research reports. Citigroup cut their price objective on shares of Roku from $110.00 to $75.00 and set a neutral rating on the stock in a research report on Wednesday, February 21st. Oppenheimer downgraded shares of Roku from an outperform rating to a market perform rating in a report on Friday, February 16th. Morgan Stanley decreased their price objective on shares of Roku from $65.00 to $60.00 and set an underweight rating for the company in a research note on Friday, April 5th. Susquehanna upped their target price on Roku from $100.00 to $110.00 and gave the company a positive rating in a research note on Friday, February 16th. Finally, Needham & Company LLC reissued a buy rating and set a $100.00 price target on shares of Roku in a research note on Wednesday, February 21st. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus price target of $84.76.

Roku Price Performance

NASDAQ:ROKU opened at $58.57 on Friday. Roku has a 1 year low of $51.62 and a 1 year high of $108.84. The company has a market cap of $8.41 billion, a price-to-earnings ratio of -11.24 and a beta of 1.66. The stock’s 50 day simple moving average is $65.69 and its two-hundred day simple moving average is $78.97.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Thursday, February 15th. The company reported ($0.55) EPS for the quarter, topping the consensus estimate of ($0.65) by $0.10. Roku had a negative return on equity of 29.21% and a negative net margin of 20.36%. The company had revenue of $984.40 million during the quarter, compared to analyst estimates of $967.72 million. During the same quarter last year, the business posted ($1.70) earnings per share. The firm’s revenue was up 13.5% on a year-over-year basis. As a group, analysts anticipate that Roku will post -2.12 EPS for the current year.

Insider Buying and Selling at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of the firm’s 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 sale, the chief executive officer now owns 141,221 shares of the company’s stock, valued at $13,930,039.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer now owns 141,221 shares in the company, valued at approximately $13,930,039.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Charles Collier sold 12,277 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $65.06, for a total value of $798,741.62. Following the completion of the sale, the insider now directly owns 4,292 shares of the company’s stock, valued at approximately $279,237.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,545 shares of company stock valued at $4,364,035. 13.63% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Roku

Several institutional investors and hedge funds have recently made changes to their positions in ROKU. Vanguard Group Inc. lifted its position in Roku by 3.3% during the fourth quarter. Vanguard Group Inc. now owns 11,853,947 shares of the company’s stock valued at $1,086,533,000 after purchasing an additional 380,409 shares during the period. FMR LLC boosted its stake in shares of Roku by 85.9% in the third quarter. FMR LLC now owns 9,441,349 shares of the company’s stock worth $666,465,000 after buying an additional 4,363,754 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in Roku by 24.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock valued at $478,939,000 after acquiring an additional 1,457,925 shares in the last quarter. Wellington Management Group LLP boosted its position in Roku by 34.6% in the 3rd quarter. Wellington Management Group LLP now owns 2,543,081 shares of the company’s stock worth $179,516,000 after purchasing an additional 653,940 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Roku during the 4th quarter valued at approximately $90,386,000. 86.30% of the stock is currently 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.