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

Roku (NASDAQ:ROKU) had its price objective cut by Wedbush from $80.00 to $75.00 in a report released on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Rosenblatt Securities restated a neutral rating and set a $89.00 price target on shares of Roku in a research report on Friday. Needham & Company LLC reissued a buy rating and set a $100.00 target price on shares of Roku in a report on Friday. Pivotal Research cut their target price on Roku from $85.00 to $75.00 and set a hold rating for the company in a research report on Friday, February 16th. Benchmark lowered their price target on Roku from $115.00 to $105.00 and set a buy rating on the stock in a research report on Friday. Finally, Stephens restated an overweight rating and issued a $105.00 price objective on shares of Roku in a report on Friday, February 16th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Roku currently has an average rating of Hold and an average target price of $84.47.

Roku Price Performance

ROKU opened at $58.66 on Friday. The stock’s 50 day moving average price is $62.53 and its 200 day moving average price is $78.50. The stock has a market cap of $8.42 billion, a P/E ratio of -14.70 and a beta of 1.66. Roku has a 12 month low of $51.62 and a 12 month high of $108.84.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Thursday, April 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $843.54 million. During the same quarter in the prior year, the business posted ($1.38) earnings per share. The company’s revenue for the quarter was up 19.0% compared to the same quarter last year. Equities analysts anticipate that Roku will post -2.12 EPS for the current year.

Insider Activity at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, 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 legal filing with the SEC, which is available through this hyperlink. In other news, insider Charles Collier sold 12,277 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $65.06, for a total transaction of $798,741.62. Following the completion of the sale, the insider now owns 4,292 shares in the company, valued at approximately $279,237.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $98.64, for a total value of $2,466,000.00. Following the completion of the transaction, the chief executive officer now directly owns 141,221 shares in the company, valued at $13,930,039.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,545 shares of company stock valued at $4,364,035. 13.63% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Roku

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC acquired a new stake in shares of Roku in the fourth quarter worth $27,000. Creative Financial Designs Inc. ADV acquired a new position in Roku during the 4th quarter worth $29,000. Federated Hermes Inc. acquired a new stake in shares of Roku in the third quarter valued at about $37,000. Quarry LP increased its stake in shares of Roku by 160.2% in the fourth quarter. Quarry LP now owns 432 shares of the company’s stock worth $40,000 after purchasing an additional 266 shares during the period. Finally, Benjamin Edwards Inc. lifted its position in shares of Roku by 43.5% during 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 last quarter. Institutional investors and hedge funds 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.