Susquehanna Trims Roku (NASDAQ:ROKU) Target Price to $80.00

Roku (NASDAQ:ROKU) had its price target decreased by Susquehanna from $110.00 to $80.00 in a research report report published on Monday, Benzinga reports. Susquehanna currently has a positive rating on the stock.

ROKU has been the topic of several other reports. Piper Sandler reaffirmed a neutral rating and set a $65.00 price objective (down from $81.00) on shares of Roku in a research report on Friday, April 26th. Oppenheimer cut Roku from an outperform rating to a market perform rating in a research report on Friday, February 16th. Wedbush cut their price objective on Roku from $80.00 to $75.00 and set an outperform rating on the stock in a research report on Friday, April 26th. Wells Fargo & Company boosted their price target on Roku from $45.00 to $52.00 and gave the stock an underweight rating in a research report on Friday, April 26th. Finally, Pivotal Research dropped their price target on Roku from $85.00 to $75.00 and set a hold rating on the stock in a research report on Friday, February 16th. Three equities 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. According to data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $84.21.

Roku Price Performance

NASDAQ ROKU opened at $59.13 on Monday. The stock has a market capitalization of $8.49 billion, a PE ratio of -14.82 and a beta of 1.66. Roku has a 1 year low of $51.62 and a 1 year high of $108.84. The business’s 50-day moving average is $62.24 and its 200 day moving average is $78.31.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data 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. The business had revenue of $881.50 million for the quarter, compared to analysts’ expectations of $843.54 million. Roku had a negative return on equity of 23.81% and a negative net margin of 15.64%. The business’s revenue was up 19.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.38) EPS. As a group, equities research analysts anticipate that Roku will post -1.98 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Anthony J. Wood sold 25,000 shares of the business’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 approximately $13,930,039.44. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 141,221 shares in the company, valued at approximately $13,930,039.44. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Stephen H. Kay sold 4,310 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 81,459 shares of the company’s stock, valued at $5,148,208.80. The disclosure for this sale can be found here. Insiders sold a total of 54,545 shares of company stock worth $4,364,035 in the last three months. Insiders own 13.63% of the company’s stock.

Institutional Investors Weigh In On Roku

A number of hedge funds have recently added to or reduced their stakes in ROKU. FMR LLC raised its stake in Roku by 85.9% during the 3rd quarter. FMR LLC now owns 9,441,349 shares of the company’s stock valued at $666,465,000 after buying an additional 4,363,754 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Roku by 24.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock worth $478,939,000 after purchasing an additional 1,457,925 shares in the last quarter. Norges Bank purchased a new stake in shares of Roku in the 4th quarter worth $90,386,000. Lord Abbett & CO. LLC purchased a new stake in shares of Roku in the 3rd quarter worth $55,182,000. Finally, Wellington Management Group LLP increased its stake in shares of Roku by 34.6% in the 3rd quarter. Wellington Management Group LLP now owns 2,543,081 shares of the company’s stock worth $179,516,000 after purchasing an additional 653,940 shares in the last quarter. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

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.