Roku (NASDAQ:ROKU) Earns Neutral Rating from Piper Sandler

Piper Sandler reissued their neutral rating on shares of Roku (NASDAQ:ROKU) in a report published on Friday, Benzinga reports. Piper Sandler currently has a $65.00 price target on the stock, down from their prior price target of $81.00.

ROKU has been the subject of a number of other reports. Pivotal Research cut their price objective on Roku from $85.00 to $75.00 and set a hold rating for the company in a research report on Friday, February 16th. Morgan Stanley cut their price objective on Roku from $65.00 to $60.00 and set an underweight rating for the company in a research report on Friday, April 5th. Susquehanna boosted their price target on Roku from $100.00 to $110.00 and gave the stock a positive rating in a research report on Friday, February 16th. Wells Fargo & Company dropped their price target on Roku from $51.00 to $45.00 and set an underweight rating for the company in a research report on Friday, April 12th. Finally, Rosenblatt Securities reiterated a neutral rating and set a $89.00 price target on shares of Roku in a research report on Friday. Five investment 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 MarketBeat, Roku has an average rating of Hold and an average price target of $83.90.

Roku Trading Down 10.3 %

Shares of ROKU stock opened at $56.35 on Friday. The stock has a 50 day moving average of $62.80 and a 200 day moving average of $78.48. The stock has a market cap of $8.09 billion, a P/E ratio of -14.12 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 posted its quarterly earnings data on Thursday, April 25th. The company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.29. The business had revenue of $881.50 million during the quarter, compared to analysts’ expectations of $843.54 million. Roku had a negative return on equity of 23.73% and a negative net margin of 15.64%. The business’s revenue was up 19.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.38) earnings per share. On average, research analysts predict that Roku will post -2.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Roku news, SVP Stephen H. Kay sold 4,310 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $63.20, for a total transaction of $272,392.00. Following the transaction, the senior vice president now owns 81,459 shares of the company’s stock, valued at $5,148,208.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Stephen H. Kay sold 4,310 shares of the company’s stock in a transaction 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 transaction, the senior vice president now owns 81,459 shares of the company’s stock, valued at approximately $5,148,208.80. The sale was disclosed in a filing with the SEC, which is accessible 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 shares were sold at an average price of $65.06, for a total value of $798,741.62. Following the completion of the transaction, the insider now directly owns 4,292 shares in the company, valued at approximately $279,237.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,545 shares of company stock valued at $4,364,035. 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 acquired a new position in Roku during the 4th quarter worth about $27,000. Creative Financial Designs Inc. ADV acquired a new position in Roku during the 4th quarter worth about $29,000. Federated Hermes Inc. acquired a new position in Roku during the 3rd quarter worth about $37,000. Quarry LP lifted its stake in Roku by 160.2% during the 4th quarter. Quarry LP now owns 432 shares of the company’s stock worth $40,000 after acquiring an additional 266 shares in the last quarter. Finally, Headinvest LLC acquired a new position in Roku during the 3rd quarter worth about $42,000. 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.