Roku (NASDAQ:ROKU) Given Outperform Rating at Wedbush

Wedbush reaffirmed their outperform rating on shares of Roku (NASDAQ:ROKU) in a research report sent to investors on Monday,RTT News reports. The firm currently has a $100.00 price objective on the stock.

ROKU has been the subject of a number of other reports. Piper Sandler assumed coverage on shares of Roku in a report on Thursday, April 17th. They issued a “neutral” rating and a $65.00 price objective on the stock. FBN Securities began coverage on Roku in a report on Friday, March 28th. They issued an “outperform” rating and a $93.00 price objective on the stock. JPMorgan Chase & Co. boosted their target price on shares of Roku from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, June 3rd. Benchmark reiterated a “buy” rating and set a $130.00 price target on shares of Roku in a research report on Friday, May 2nd. Finally, Guggenheim reissued a “buy” rating and issued a $100.00 target price on shares of Roku in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.93.

Roku Stock Up 1.0%

NASDAQ:ROKU opened at $81.43 on Monday. Roku has a twelve month low of $48.33 and a twelve month high of $104.96. The firm has a market capitalization of $11.88 billion, a price-to-earnings ratio of -111.55 and a beta of 2.09. The stock’s 50 day moving average price is $68.68 and its two-hundred day moving average price is $75.06.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.08. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Roku had a negative net margin of 2.49% and a negative return on equity of 4.29%. Roku’s revenue was up 15.8% on a year-over-year basis. During the same period last year, the business posted ($0.35) EPS. As a group, analysts anticipate that Roku will post -0.3 earnings per share for the current year.

Insider Transactions at Roku

In other news, CFO Dan Jedda sold 1,500 shares of the firm’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $81.32, for a total transaction of $121,980.00. Following the completion of the sale, the chief financial officer now directly owns 80,632 shares of the company’s stock, valued at $6,556,994.24. This trade represents a 1.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the transaction, the chief executive officer now directly owns 6,243 shares in the company, valued at $468,225. This trade represents a 80.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,227 shares of company stock worth $4,994,244 in the last quarter. 13.98% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Roku

Institutional investors have recently bought and sold shares of the company. Garde Capital Inc. bought a new position in shares of Roku during the 1st quarter worth $25,000. Vision Financial Markets LLC bought a new stake in shares of Roku in the fourth quarter valued at approximately $30,000. Beaird Harris Wealth Management LLC bought a new position in Roku in the 1st quarter worth approximately $30,000. Banque Transatlantique SA purchased a new position in Roku in the 1st quarter valued at approximately $28,000. Finally, Golden State Wealth Management LLC raised its holdings in Roku by 125.4% during the 1st quarter. Golden State Wealth Management LLC now owns 444 shares of the company’s stock valued at $31,000 after acquiring an additional 247 shares during the period. Hedge funds and other institutional investors 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.