Roku’s (ROKU) “Neutral” Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities reiterated their neutral rating on shares of Roku (NASDAQ:ROKU) in a research report sent to investors on Friday, Benzinga reports. They currently have a $89.00 price target on the stock.

Several other research firms also recently weighed in on ROKU. Morgan Stanley lowered their price objective on shares of Roku from $65.00 to $60.00 and set an underweight rating on the stock in a report on Friday, April 5th. Oppenheimer downgraded shares of Roku from an outperform rating to a market perform rating in a report on Friday, February 16th. Citigroup lowered their price objective on shares of Roku from $110.00 to $75.00 and set a neutral rating on the stock in a report on Wednesday, February 21st. Wells Fargo & Company lowered their price objective on shares of Roku from $51.00 to $45.00 and set an underweight rating on the stock in a report on Friday, April 12th. Finally, Wedbush lowered their price objective on shares of Roku from $120.00 to $80.00 and set an outperform rating on the stock in a report on Friday, April 19th. Five equities research 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. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $83.90.

Roku Stock Down 10.3 %

Roku stock opened at $56.35 on Friday. Roku has a 12-month low of $51.62 and a 12-month high of $108.84. The firm’s fifty day moving average is $62.80 and its 200 day moving average is $78.48. The company has a market capitalization of $8.09 billion, a PE ratio of -14.12 and a beta of 1.66.

Roku (NASDAQ:ROKU) last released its 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. Roku had a negative net margin of 15.64% and a negative return on equity of 23.73%. 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 previous year, the company earned ($1.38) EPS. Roku’s quarterly revenue was up 19.0% compared to the same quarter last year. Sell-side analysts expect that Roku will post -2.12 EPS for the current fiscal year.

Insider Activity at Roku

In related news, Director Jeffrey M. Blackburn purchased 8,000 shares of Roku stock in a transaction that occurred on Wednesday, March 13th. The stock was bought at an average price of $63.96 per share, for a total transaction of $511,680.00. Following the completion of the transaction, the director now owns 8,000 shares in the company, valued at $511,680. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 141,221 shares in the company, valued at $13,930,039.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey M. Blackburn bought 8,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were acquired at an average price of $63.96 per share, with a total value of $511,680.00. Following the transaction, the director now directly owns 8,000 shares of the company’s stock, valued at $511,680. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 54,545 shares of company stock worth $4,364,035. 13.63% of the stock is owned by company insiders.

Hedge Funds Weigh In On Roku

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ROKU. FMR LLC boosted its position in Roku by 85.9% during the third quarter. FMR LLC now owns 9,441,349 shares of the company’s stock worth $666,465,000 after purchasing an additional 4,363,754 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Roku by 24.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock worth $478,939,000 after buying an additional 1,457,925 shares in the last quarter. Norges Bank purchased a new stake in shares of Roku in the fourth quarter worth about $90,386,000. Lord Abbett & CO. LLC purchased a new stake in shares of Roku in the third quarter worth about $55,182,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Roku by 34.6% in the third quarter. Wellington Management Group LLP now owns 2,543,081 shares of the company’s stock worth $179,516,000 after buying an additional 653,940 shares in 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.