Roku (NASDAQ:ROKU) Price Target Cut to $105.00 by Analysts at Benchmark

Roku (NASDAQ:ROKU) had its price target decreased by analysts at Benchmark from $115.00 to $105.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s target price would indicate a potential upside of 72.73% from the company’s previous close.

Other research analysts have also issued reports about the stock. Wedbush cut their target price on shares of Roku from $120.00 to $80.00 and set an “outperform” rating on the stock in a research note on Friday, April 19th. Citigroup lowered their target price on shares of Roku from $110.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, February 21st. Rosenblatt Securities reiterated a “neutral” rating and issued a $89.00 target price on shares of Roku in a report on Friday. Wells Fargo & Company lowered their target price on shares of Roku from $51.00 to $45.00 and set an “underweight” rating for the company in a report on Friday, April 12th. Finally, Oppenheimer downgraded shares of Roku from an “outperform” rating to a “market perform” rating in a report on Friday, February 16th. Five analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Roku presently has a consensus rating of “Hold” and a consensus price target of $84.57.

Roku Stock Performance

NASDAQ:ROKU opened at $60.79 on Friday. The firm’s fifty day moving average is $63.11 and its 200-day moving average is $78.59. Roku has a 52 week low of $51.62 and a 52 week high of $108.84. The firm has a market cap of $8.72 billion, a P/E ratio of -12.51 and a beta of 1.66.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, April 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.64) by $0.29. The business had revenue of $881.50 million for the quarter, compared to analyst estimates of $843.54 million. Roku had a negative net margin of 20.36% and a negative return on equity of 29.21%. Roku’s revenue was up 19.0% on a year-over-year basis. 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 earnings per share for the current year.

Insiders Place Their Bets

In other Roku news, Director Jeffrey M. Blackburn purchased 8,000 shares of the firm’s stock in a transaction on 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 completion of the purchase, the director now owns 8,000 shares of the company’s stock, valued at approximately $511,680. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were 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 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 this link. Also, Director Jeffrey M. Blackburn bought 8,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were acquired at an average price of $63.96 per share, for a total transaction of $511,680.00. Following the acquisition, the director now owns 8,000 shares in the company, valued at approximately $511,680. The disclosure for this purchase can be found here. Over the last ninety 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.

Hedge Funds Weigh In On Roku

A number of hedge funds have recently bought and sold shares of ROKU. FMR LLC increased its position in shares of Roku by 85.9% during the 3rd quarter. FMR LLC now owns 9,441,349 shares of the company’s stock valued at $666,465,000 after purchasing an additional 4,363,754 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Roku by 24.7% during 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 purchasing an additional 1,457,925 shares during the last quarter. Norges Bank purchased a new stake in shares of Roku during the 4th quarter valued at about $90,386,000. Lord Abbett & CO. LLC purchased a new stake in shares of Roku during the 3rd quarter valued at about $55,182,000. Finally, Wellington Management Group LLP increased its position 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 valued at $179,516,000 after purchasing an additional 653,940 shares during the last quarter. Institutional investors own 86.30% of the company’s stock.

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.