Roku (NASDAQ:ROKU) Earns Buy Rating from Benchmark

Benchmark reiterated their buy rating on shares of Roku (NASDAQ:ROKU) in a research report report published on Friday morning, Benzinga reports. They currently have a $115.00 target price on the stock.

ROKU has been the subject of several other reports. Needham & Company LLC reissued a buy rating and set a $100.00 price target on shares of Roku in a research report on Wednesday, February 21st. Morgan Stanley cut their price objective on Roku from $65.00 to $60.00 and set an underweight rating for the company in a report on Friday, April 5th. Wells Fargo & Company lowered their target price 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. Citigroup cut their price target on shares of Roku from $110.00 to $75.00 and set a neutral rating for the company in a research note on Wednesday, February 21st. 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 research note on Friday. Five 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $84.76.

Roku Stock Up 2.9 %

Shares of ROKU opened at $58.57 on Friday. The company has a 50 day moving average of $65.69 and a 200-day moving average of $78.97. The stock has a market capitalization of $8.41 billion, a P/E ratio of -11.24 and a beta of 1.66. Roku has a twelve month low of $51.62 and a twelve month high of $108.84.

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

Insider Activity at Roku

In other Roku news, Director Jeffrey M. Blackburn acquired 8,000 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was acquired at an average price of $63.96 per share, for a total transaction of $511,680.00. Following the purchase, the director now directly owns 8,000 shares of the company’s stock, valued at $511,680. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 transaction of $2,466,000.00. Following the sale, the chief executive officer now directly owns 141,221 shares of the company’s stock, valued at approximately $13,930,039.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey M. Blackburn purchased 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was bought at an average cost of $63.96 per share, with a total value of $511,680.00. Following the purchase, the director now 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 three months, insiders have sold 54,545 shares of company stock worth $4,364,035. Corporate insiders own 13.63% of the company’s stock.

Hedge Funds Weigh In On Roku

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC bought a new stake in shares of Roku during the 4th quarter worth approximately $27,000. Creative Financial Designs Inc. ADV acquired a new position in Roku during the fourth quarter valued at approximately $29,000. Quarry LP lifted its stake in Roku by 160.2% during 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 last quarter. Federated Hermes Inc. acquired a new stake in shares of Roku in the 3rd quarter valued at $37,000. Finally, Headinvest LLC acquired a new stake in shares of Roku in the 3rd quarter valued at $42,000. 86.30% of the stock is owned by institutional investors.

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.