Roku (NASDAQ:ROKU) Price Target Cut to $100.00 by Analysts at Pivotal Research

Roku (NASDAQ:ROKU) had its price objective cut by equities researchers at Pivotal Research from $125.00 to $100.00 in a research note issued to investors on Friday, Marketbeat reports. The brokerage currently has a “buy” rating on the stock. Pivotal Research’s price objective would suggest a potential upside of 62.47% from the company’s previous close.

Several other equities analysts have also issued reports on ROKU. Citizens Jmp raised Roku to a “strong-buy” rating in a report on Tuesday, January 21st. Wedbush dropped their price target on Roku from $125.00 to $100.00 and set an “outperform” rating on the stock in a research note on Monday, April 28th. JMP Securities reiterated a “market outperform” rating and issued a $95.00 price objective on shares of Roku in a research note on Thursday, April 24th. Rosenblatt Securities lowered their target price on shares of Roku from $100.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, UBS Group reduced their price target on shares of Roku from $90.00 to $72.00 and set a “neutral” rating for the company in a research report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.46.

Roku Stock Performance

NASDAQ:ROKU opened at $61.55 on Friday. Roku has a 1 year low of $48.33 and a 1 year high of $104.96. The stock has a market cap of $8.98 billion, a P/E ratio of -69.16 and a beta of 2.06. The stock has a 50-day simple moving average of $68.66 and a 200-day simple moving average of $75.16.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.08. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The firm’s revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.35) earnings per share. On average, equities research analysts predict that Roku will post -0.3 EPS for the current year.

Insider Transactions at Roku

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $87.93, for a total transaction of $2,198,250.00. Following the sale, the chief executive officer now directly owns 26,538 shares in the company, valued at approximately $2,333,486.34. The trade was a 48.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Dan Jedda sold 5,000 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $100.40, for a total value of $502,000.00. Following the completion of the transaction, the chief financial officer now owns 58,555 shares of the company’s stock, valued at approximately $5,878,922. This represents a 7.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 72,111 shares of company stock valued at $6,575,362 in the last quarter. 13.98% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Franklin Resources Inc. grew its holdings in Roku by 14.5% during the 3rd quarter. Franklin Resources Inc. now owns 82,170 shares of the company’s stock valued at $6,275,000 after buying an additional 10,416 shares during the last quarter. Everence Capital Management Inc. acquired a new stake in shares of Roku during the fourth quarter valued at $350,000. Oak Thistle LLC purchased a new stake in Roku during the 4th quarter worth about $823,000. Avanza Fonder AB acquired a new position in Roku in the 4th quarter valued at about $3,499,000. Finally, O Keefe Stevens Advisory Inc. lifted its holdings in Roku by 39.5% in the 4th quarter. O Keefe Stevens Advisory Inc. now owns 3,893 shares of the company’s stock valued at $289,000 after purchasing an additional 1,102 shares in the last quarter. 86.30% of the stock is 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.