Roku (NASDAQ:ROKU) Price Target Lowered to $75.00 at Wedbush

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

A number of other equities research analysts have also recently weighed in on the stock. Piper Sandler reissued a neutral rating and issued a $65.00 price target (down from $81.00) on shares of Roku in a research report on Friday. Benchmark decreased their target price on Roku from $115.00 to $105.00 and set a buy rating for the company in a research report on Friday. Morgan Stanley cut their price target on Roku from $65.00 to $60.00 and set an underweight rating on the stock in a research report on Friday, April 5th. Stephens reiterated an overweight rating and issued a $105.00 price objective on shares of Roku in a research note on Friday, February 16th. Finally, Needham & Company LLC restated a buy rating and set a $100.00 target price on shares of Roku in a research report on Friday. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $83.90.

Roku Stock Down 10.3 %

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

Roku (NASDAQ:ROKU) last released its quarterly earnings results 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. Roku had a negative net margin of 15.64% and a negative return on equity of 23.73%. The business had revenue of $881.50 million for the quarter, compared to the consensus estimate of $843.54 million. During the same period last year, the firm earned ($1.38) earnings per share. The company’s quarterly revenue was up 19.0% on a year-over-year basis. Analysts expect that Roku will post -2.12 earnings per share 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 on Monday, February 12th. The stock was 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 owns 141,221 shares of the company’s stock, valued at $13,930,039.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Jeffrey M. Blackburn bought 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were acquired at an average cost of $63.96 per share, with a total value of $511,680.00. Following the completion of the transaction, the director now owns 8,000 shares of the company’s stock, valued at $511,680. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 141,221 shares of the company’s stock, valued at approximately $13,930,039.44. The disclosure for this sale can be found here. In the last three months, insiders sold 54,545 shares of company stock worth $4,364,035. Insiders own 13.63% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ROKU. Gotham Asset Management LLC grew its holdings in shares of Roku by 200.3% during the 3rd quarter. Gotham Asset Management LLC now owns 41,128 shares of the company’s stock worth $2,903,000 after purchasing an additional 27,431 shares during the period. Nordea Investment Management AB increased its position in shares of Roku by 8.2% in the fourth quarter. Nordea Investment Management AB now owns 7,247 shares of the company’s stock worth $669,000 after acquiring an additional 551 shares in the last quarter. Barclays PLC raised its stake in shares of Roku by 13.0% in the 3rd quarter. Barclays PLC now owns 215,766 shares of the company’s stock valued at $15,231,000 after acquiring an additional 24,765 shares during the period. Deutsche Bank AG lifted its holdings in shares of Roku by 27.6% during the 3rd quarter. Deutsche Bank AG now owns 154,729 shares of the company’s stock valued at $10,922,000 after acquiring an additional 33,500 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its position in Roku by 32.4% during the 4th quarter. Vontobel Holding Ltd. now owns 79,771 shares of the company’s stock worth $7,312,000 after purchasing an additional 19,543 shares during the period. 86.30% of the stock is owned by hedge funds and other institutional investors.

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.