Roku (NASDAQ:ROKU) Given New $75.00 Price Target at Wedbush

Roku (NASDAQ:ROKU) had its price target lowered by Wedbush from $80.00 to $75.00 in a report released on Friday, Benzinga reports. The firm currently has an outperform rating on the stock.

Other equities analysts also recently issued reports about the stock. 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 note on Friday, April 5th. Piper Sandler reiterated a neutral rating and issued a $65.00 price objective (down from $81.00) on shares of Roku in a report on Friday. Rosenblatt Securities reissued a neutral rating and set a $89.00 target price on shares of Roku in a research note on Friday. Susquehanna lifted their target price on Roku from $100.00 to $110.00 and gave the company a positive rating in a research report on Friday, February 16th. Finally, Stephens reiterated an overweight rating and set a $105.00 price target on shares of Roku in a report on Friday, February 16th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Roku has a consensus rating of Hold and an average target price of $84.47.

Roku Price Performance

ROKU stock opened at $58.66 on Friday. Roku has a 1 year low of $51.62 and a 1 year high of $108.84. The firm has a market capitalization of $8.42 billion, a PE ratio of -14.70 and a beta of 1.66. The business has a 50 day simple moving average of $62.53 and a 200-day simple moving average of $78.50.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, April 25th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.29. Roku had a negative return on equity of 23.73% and a negative net margin of 15.64%. The company had revenue of $881.50 million for the quarter, compared to analyst estimates of $843.54 million. During the same quarter in the previous year, the company posted ($1.38) earnings per share. The firm’s revenue for the quarter was up 19.0% compared to the same quarter last year. On average, equities research analysts expect that Roku will post -2.12 EPS for the current year.

Insider Buying and Selling

In other Roku news, Director Jeffrey M. Blackburn bought 8,000 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was acquired 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 approximately $511,680. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Anthony J. Wood sold 25,000 shares of Roku 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 transaction, the chief executive officer now directly owns 141,221 shares of the company’s stock, valued at $13,930,039.44. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey M. Blackburn purchased 8,000 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were purchased 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 in the company, valued at $511,680. The disclosure for this purchase can be found here. Insiders sold 54,545 shares of company stock valued at $4,364,035 over the last ninety days. Corporate insiders own 13.63% of the company’s stock.

Institutional Trading of Roku

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Roku by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 11,853,947 shares of the company’s stock valued at $1,086,533,000 after buying an additional 380,409 shares during the last quarter. FMR LLC grew its stake in Roku by 85.9% in the 3rd quarter. FMR LLC now owns 9,441,349 shares of the company’s stock worth $666,465,000 after acquiring an additional 4,363,754 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Roku by 24.7% in the 1st 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 during the last quarter. Wellington Management Group LLP lifted its stake in shares of Roku by 34.6% during 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 during the period. Finally, Norges Bank acquired a new stake in shares of Roku during the fourth quarter worth $90,386,000. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

About Roku

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.