Piper Sandler Reiterates “Neutral” Rating for Roku (NASDAQ:ROKU)

Piper Sandler reissued their neutral rating on shares of Roku (NASDAQ:ROKU) in a research report sent to investors on Friday morning, Benzinga reports. Piper Sandler currently has a $65.00 price objective on the stock, down from their previous price objective of $81.00.

Other equities research analysts have also issued research reports about the stock. Pivotal Research dropped their target price on shares of Roku from $85.00 to $75.00 and set a hold rating for the company in a report on Friday, February 16th. Needham & Company LLC reaffirmed a buy rating and set a $100.00 price objective on shares of Roku in a research note on Friday. Susquehanna raised their target price on shares of Roku from $100.00 to $110.00 and gave the stock a positive rating in a research note on Friday, February 16th. Stephens restated an overweight rating and set a $105.00 target price on shares of Roku in a report on Friday, February 16th. Finally, Oppenheimer cut Roku from an outperform rating to a market perform rating in a report on Friday, February 16th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Roku currently has a consensus rating of Hold and an average target price of $84.47.

Roku Stock Up 4.1 %

ROKU opened at $58.66 on Friday. The company has a market cap of $8.42 billion, a PE ratio of -14.70 and a beta of 1.66. Roku has a twelve month low of $51.62 and a twelve month high of $108.84. The company has a 50-day moving average price of $62.53 and a 200 day moving average price of $78.50.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, April 25th. The company reported ($0.35) earnings per share 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 business had revenue of $881.50 million for the quarter, compared to the consensus estimate of $843.54 million. During the same quarter last year, the business posted ($1.38) earnings per share. The business’s quarterly revenue was up 19.0% compared to the same quarter last year. As a group, sell-side analysts expect that Roku will post -2.12 earnings per share for the current year.

Insider Buying and Selling

In other Roku news, SVP Stephen H. Kay sold 4,310 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now owns 81,459 shares of the company’s stock, valued at $5,148,208.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other 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 sale, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Stephen H. Kay sold 4,310 shares of Roku stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $63.20, for a total transaction of $272,392.00. Following the completion of the transaction, the senior vice president now owns 81,459 shares of the company’s stock, valued at approximately $5,148,208.80. 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. Company insiders own 13.63% of the company’s stock.

Hedge Funds Weigh In On Roku

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC purchased a new stake in shares of Roku during the fourth quarter worth $27,000. Creative Financial Designs Inc. ADV acquired a new position in Roku during the 4th quarter worth $29,000. Quarry LP increased 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 purchasing an additional 266 shares during the period. Federated Hermes Inc. acquired a new stake in Roku in the 3rd quarter valued at about $37,000. Finally, Headinvest LLC purchased a new position in shares of Roku in the 3rd quarter valued at about $42,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

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.