Roku (NASDAQ:ROKU) Given New $52.00 Price Target at Wells Fargo & Company

Roku (NASDAQ:ROKU) had its target price lifted by Wells Fargo & Company from $45.00 to $52.00 in a research note released on Friday morning, Benzinga reports. They currently have an underweight rating on the stock.

Other equities analysts also recently issued research reports about the company. Piper Sandler reaffirmed a neutral rating and issued a $65.00 target price (down previously from $81.00) on shares of Roku in a research report on Friday. Pivotal Research cut their price target on Roku from $85.00 to $75.00 and set a hold rating for the company in a research note on Friday, February 16th. Morgan Stanley cut their price target on Roku from $65.00 to $60.00 and set an underweight rating for the company in a research note on Friday, April 5th. Wedbush cut their price target on Roku from $80.00 to $75.00 and set an outperform rating for the company in a research note on Friday. Finally, Benchmark cut their price target on Roku from $115.00 to $105.00 and set a buy rating for the company in a research note on Friday. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $83.90.

Roku Stock Down 10.3 %

Shares of NASDAQ 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 two-hundred day moving average price is $78.48. The company has a market cap of $8.09 billion, a PE ratio of -14.12 and a beta of 1.66.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, April 25th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $843.54 million. During the same quarter in the prior year, the business earned ($1.38) earnings per share. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. As a group, research analysts anticipate that Roku will post -2.12 EPS for the current fiscal year.

Insider Activity at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of the 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 directly owns 141,221 shares in the company, valued at $13,930,039.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Roku news, SVP Stephen H. Kay sold 4,310 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.20, for a total transaction 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 approximately $5,148,208.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now 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. Company insiders own 13.63% of the company’s stock.

Institutional Trading of Roku

Large investors have recently bought and sold shares of the business. GAMMA Investing LLC acquired a new stake in Roku during the 4th quarter worth about $27,000. Creative Financial Designs Inc. ADV acquired a new stake in Roku during the 4th quarter worth about $29,000. Quarry LP grew its holdings in Roku by 160.2% during the 4th quarter. Quarry LP now owns 432 shares of the company’s stock worth $40,000 after acquiring an additional 266 shares during the period. Federated Hermes Inc. acquired a new stake in shares of Roku in the 3rd quarter valued at about $37,000. Finally, Headinvest LLC acquired a new stake in shares of Roku in the 3rd quarter valued at about $42,000. 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.