Wells Fargo & Company Lowers Roku (NASDAQ:ROKU) Price Target to $45.00

Roku (NASDAQ:ROKU) had its price target cut by Wells Fargo & Company from $51.00 to $45.00 in a research note released on Friday morning, Benzinga reports. They currently have an underweight rating on the stock.

A number of other equities research analysts have also recently weighed in on ROKU. Morgan Stanley cut their price objective 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. Stephens reaffirmed an overweight rating and issued a $105.00 price target on shares of Roku in a research note on Friday, February 16th. Moffett Nathanson lowered shares of Roku from a market perform rating to a sell rating and raised their price objective for the company from $64.00 to $66.00 in a research note on Friday, December 15th. Citigroup dropped their target price on Roku from $110.00 to $75.00 and set a neutral rating on the stock in a report on Wednesday, February 21st. Finally, Susquehanna increased their price target on Roku from $100.00 to $110.00 and gave the company a positive rating in a research note on Friday, February 16th. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and an average target price of $86.67.

Roku Stock Down 1.6 %

Shares of NASDAQ:ROKU opened at $58.94 on Friday. The company’s 50-day moving average price is $68.64 and its 200 day moving average price is $79.31. The company has a market cap of $8.46 billion, a PE ratio of -11.74 and a beta of 1.66. Roku has a fifty-two week low of $51.62 and a fifty-two week high of $108.84.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Thursday, February 15th. The company reported ($0.55) earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $967.72 million. During the same quarter in the previous year, the company posted ($1.70) earnings per share. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. As a group, equities analysts anticipate that Roku will post -2.16 EPS for the current year.

Insiders Place Their Bets

In other Roku news, SVP Stephen H. Kay sold 4,310 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.20, for a total transaction of $272,392.00. Following the sale, the senior vice president now directly owns 81,459 shares of the company’s stock, valued at $5,148,208.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Stephen H. Kay sold 4,310 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $63.20, for a total value of $272,392.00. Following the completion of the sale, the senior vice president now directly owns 81,459 shares in the company, valued at $5,148,208.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Anthony J. Wood sold 25,000 shares of the business’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 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 disclosure for this sale can be found here. Insiders sold 54,545 shares of company stock worth $4,364,035 over the last three months. 13.63% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Harbour Investments Inc. raised its stake in Roku by 3.3% in the third quarter. Harbour Investments Inc. now owns 3,499 shares of the company’s stock valued at $247,000 after buying an additional 113 shares during the period. Avantax Advisory Services Inc. raised its stake in Roku by 0.9% in the 4th quarter. Avantax Advisory Services Inc. now owns 12,949 shares of the company’s stock valued at $1,187,000 after acquiring an additional 117 shares during the period. The Manufacturers Life Insurance Company raised its stake in Roku by 0.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 21,645 shares of the company’s stock valued at $1,987,000 after acquiring an additional 144 shares during the period. Brighton Jones LLC lifted its holdings in Roku by 8.6% during the 1st quarter. Brighton Jones LLC now owns 1,874 shares of the company’s stock valued at $235,000 after purchasing an additional 148 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Roku by 0.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 50,971 shares of the company’s stock worth $4,415,000 after purchasing an additional 150 shares during the period. 86.30% of the stock is currently owned by 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.