Roku (NASDAQ:ROKU) PT Lowered to $80.00 at Wedbush

Roku (NASDAQ:ROKU) had its target price lowered by equities researchers at Wedbush from $120.00 to $80.00 in a report released on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s price objective indicates a potential upside of 36.92% from the stock’s current price.

Other research analysts have also issued reports about the company. Wells Fargo & Company cut their price objective on Roku from $51.00 to $45.00 and set an “underweight” rating on the stock in a research report on Friday, April 12th. Pivotal Research dropped their target price on Roku from $85.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, February 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of Roku in a research report on Wednesday, February 21st. Morgan Stanley dropped their target price on Roku from $65.00 to $60.00 and set an “underweight” rating on the stock in a research report on Friday, April 5th. Finally, Stephens reissued an “overweight” rating and issued a $105.00 price objective on shares of Roku in a report on Friday, February 16th. Five analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $84.76.

Roku Stock Performance

Roku stock traded down $0.26 during midday trading on Friday, reaching $58.43. The stock had a trading volume of 480,849 shares, compared to its average volume of 5,632,502. Roku has a twelve month low of $51.62 and a twelve month high of $108.84. The stock has a market capitalization of $8.39 billion, a PE ratio of -11.62 and a beta of 1.66. The stock’s 50-day simple moving average is $67.19 and its 200 day simple moving average is $79.07.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, February 15th. The company reported ($0.55) EPS for the quarter, beating the consensus estimate of ($0.65) by $0.10. Roku had a negative return on equity of 29.21% and a negative net margin of 20.36%. The company had revenue of $984.40 million for the quarter, compared to analyst estimates of $967.72 million. During the same period last year, the company posted ($1.70) earnings per share. The firm’s revenue was up 13.5% compared to the same quarter last year. Equities analysts predict that Roku will post -2.12 earnings per share for the current fiscal year.

Insider Transactions at Roku

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 stock was 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 SEC, which is available through the SEC website. In other 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 owns 141,221 shares in the company, valued at $13,930,039.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charles Collier sold 12,277 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 4,292 shares in the company, valued at $279,237.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,545 shares of company stock worth $4,364,035. Company insiders own 13.63% of the company’s stock.

Institutional Investors Weigh In On Roku

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP bought a new position in Roku during the second quarter worth about $25,000. ICA Group Wealth Management LLC bought a new stake in Roku in the 4th quarter valued at $25,000. GAMMA Investing LLC bought a new stake in Roku in the 4th quarter valued at $27,000. LM Advisors LLC bought a new stake in Roku in the 4th quarter valued at $27,000. Finally, Creative Financial Designs Inc. ADV bought a new stake in Roku during the 4th quarter worth about $29,000. 86.30% of the stock is owned by institutional investors and hedge funds.

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.