Roku (NASDAQ:ROKU) Receives Outperform Rating from Wedbush

Wedbush reaffirmed their outperform rating on shares of Roku (NASDAQ:ROKU) in a report issued on Thursday, MarketBeat.com reports. The brokerage currently has a $75.00 target price on the stock.

A number of other research firms have also weighed in on ROKU. Morgan Stanley lowered their price target on shares of Roku from $65.00 to $60.00 and set an underweight rating for the company in a report on Friday, April 5th. Citigroup dropped their target price on shares of Roku from $75.00 to $70.00 and set a neutral rating for the company in a research report on Tuesday, April 30th. Benchmark reiterated a buy rating and issued a $105.00 target price on shares of Roku in a research report on Wednesday, July 10th. Susquehanna reduced their price target on shares of Roku from $110.00 to $80.00 and set a positive rating on the stock in a research report on Monday, April 29th. Finally, Jefferies Financial Group initiated coverage on shares of Roku in a research report on Thursday, May 2nd. They set an underperform rating and a $50.00 price objective for the company. Four 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 stock. According to data from MarketBeat, Roku currently has an average rating of Hold and a consensus target price of $82.50.

Roku Stock Up 3.3 %

Shares of NASDAQ ROKU opened at $57.45 on Thursday. The stock has a market capitalization of $8.28 billion, a PE ratio of -14.40 and a beta of 1.96. The firm has a fifty day moving average of $58.59 and a 200-day moving average of $66.61. Roku has a 52-week low of $51.51 and a 52-week high of $108.84.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, April 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.29. The firm had revenue of $881.50 million during the quarter, compared to the consensus estimate of $843.54 million. Roku had a negative return on equity of 23.81% and a negative net margin of 15.64%. The firm’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.38) earnings per share. Equities research analysts expect that Roku will post -1.94 EPS for the current fiscal year.

Insider Buying and Selling at Roku

In other news, insider Charles Collier sold 7,181 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $57.03, for a total value of $409,532.43. Following the completion of the sale, the insider now owns 15,654 shares in the company, valued at $892,747.62. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Roku news, SVP Stephen H. Kay sold 12,124 shares of Roku stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $55.59, for a total value of $673,973.16. Following the transaction, the senior vice president now owns 91,905 shares in the company, valued at $5,108,998.95. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Charles Collier sold 7,181 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $57.03, for a total value of $409,532.43. Following the sale, the insider now owns 15,654 shares of the company’s stock, valued at approximately $892,747.62. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,281 shares of company stock valued at $1,567,805. 13.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Roku

Hedge funds have recently modified their holdings of the stock. Avantax Advisory Services Inc. raised its holdings in Roku by 0.9% during the 4th quarter. Avantax Advisory Services Inc. now owns 12,949 shares of the company’s stock worth $1,187,000 after buying an additional 117 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Roku by 0.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 50,971 shares of the company’s stock valued at $4,415,000 after acquiring an additional 150 shares during the period. Mcdonald Partners LLC lifted its position in shares of Roku by 0.9% in the 2nd quarter. Mcdonald Partners LLC now owns 19,608 shares of the company’s stock valued at $1,175,000 after acquiring an additional 175 shares in the last quarter. Benjamin Edwards Inc. boosted its stake in Roku by 43.5% in the 1st quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock worth $40,000 after purchasing an additional 187 shares during the period. Finally, Amalgamated Bank grew its position in Roku by 1.0% during the 4th quarter. Amalgamated Bank now owns 19,820 shares of the company’s stock worth $1,817,000 after purchasing an additional 191 shares in the last quarter. 86.30% of the stock is currently owned by institutional investors and hedge funds.

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.