Roku (NASDAQ:ROKU) Coverage Initiated by Analysts at Piper Sandler

Piper Sandler began coverage on shares of Roku (NASDAQ:ROKU) in a research report report published on Thursday. The firm issued a neutral rating and a $65.00 price target on the stock.

ROKU has been the topic of several other reports. JMP Securities upped their price target on shares of Roku from $95.00 to $115.00 and gave the company a “market outperform” rating in a report on Friday, February 14th. Wedbush restated an “outperform” rating and issued a $100.00 target price on shares of Roku in a research note on Monday, February 10th. Citigroup upgraded Roku from a “neutral” rating to an “outperform” rating in a research report on Sunday, March 23rd. UBS Group lowered their price objective on Roku from $90.00 to $72.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $88.50 target price on shares of Roku in a report on Monday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $94.11.

Roku Stock Performance

Shares of ROKU stock opened at $58.46 on Thursday. Roku has a fifty-two week low of $48.33 and a fifty-two week high of $104.96. The firm has a market capitalization of $8.53 billion, a PE ratio of -65.69 and a beta of 2.17. The stock’s 50-day simple moving average is $74.56 and its 200-day simple moving average is $76.13.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.20. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.15 billion. Sell-side analysts forecast that Roku will post -0.3 earnings per share for the current year.

Insider Buying and Selling

In other Roku news, insider Charles Collier sold 7,181 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $78.25, for a total transaction of $561,913.25. Following the transaction, the insider now owns 7,380 shares of the company’s stock, valued at approximately $577,485. The trade was a 49.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Anthony J. Wood sold 4,600 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $345,000.00. Following the completion of the sale, the chief executive officer now directly owns 6,243 shares of the company’s stock, valued at $468,225. This trade represents a 42.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,905 shares of company stock worth $6,560,876. 13.98% of the stock is owned by insiders.

Institutional Investors Weigh In On Roku

Several hedge funds and other institutional investors have recently bought and sold shares of ROKU. Geneos Wealth Management Inc. grew its stake in shares of Roku by 369.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock valued at $25,000 after buying an additional 270 shares during the period. Vision Financial Markets LLC acquired a new position in Roku in the fourth quarter valued at approximately $30,000. Princeton Global Asset Management LLC purchased a new position in Roku in the first quarter worth approximately $35,000. Game Plan Financial Advisors LLC acquired a new stake in Roku during the fourth quarter worth $37,000. Finally, Harvest Fund Management Co. Ltd raised its position in Roku by 4,091.7% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company’s stock valued at $37,000 after purchasing an additional 491 shares during the period. 86.30% of the stock is currently 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.