Roku (NASDAQ:ROKU) Hits New 1-Year Low at $169.23

Roku, Inc. (NASDAQ:ROKU)’s share price reached a new 52-week low on Thursday . The stock traded as low as $169.23 and last traded at $169.89, with a volume of 79466 shares changing hands. The stock had previously closed at $177.44.

Several analysts have recently weighed in on the company. Loop Capital reduced their target price on Roku from $475.00 to $410.00 and set a “buy” rating for the company in a report on Thursday, November 4th. Cleveland Research started coverage on Roku in a research note on Thursday, September 30th. They set a “buy” rating and a $389.00 price objective for the company. Morgan Stanley reduced their price objective on Roku from $295.00 to $190.00 and set an “underweight” rating for the company in a research note on Wednesday, December 15th. Needham & Company LLC reduced their price objective on Roku from $550.00 to $340.00 and set a “buy” rating for the company in a research note on Friday, December 10th. The company was not immune to the broader Ad Tech industry multiple compression this year amid chip shortages, supply chain headwinds, fear of rising interest rates, and pandemic related cautiousness, the analyst tells investors in a research note. Martin adds however that she remains positive on Roku stock as a pure-play way to invest in growth of the U.S. over-the-top and connected-TV ecosystems, with an advertising addressable market in the U.S. from traditional linear TV advertising revenue reported in 2021 estimated at $60B. Finally, Guggenheim raised Roku from a “neutral” rating to a “buy” rating and set a $395.00 price objective for the company in a research note on Thursday, September 23rd. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $380.74.

The business’s 50 day simple moving average is $226.87 and its 200-day simple moving average is $315.46. The company has a market cap of $22.50 billion, a price-to-earnings ratio of 82.50, a price-to-earnings-growth ratio of 2.24 and a beta of 1.71. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.32 and a current ratio of 4.43.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Wednesday, November 3rd. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.42. Roku had a net margin of 11.22% and a return on equity of 12.69%. The business had revenue of $679.95 million during the quarter, compared to analyst estimates of $682.57 million. During the same quarter in the previous year, the business earned $0.09 EPS. Research analysts expect that Roku, Inc. will post 1.55 earnings per share for the current year.

In other Roku news, CEO Anthony J. Wood sold 85,000 shares of the business’s stock in a transaction on Monday, November 1st. The shares were sold at an average price of $314.70, for a total transaction of $26,749,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Scott A. Rosenberg sold 2,716 shares of the business’s stock in a transaction on Tuesday, November 16th. The stock was sold at an average price of $272.03, for a total transaction of $738,833.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 421,541 shares of company stock valued at $104,689,123. Company insiders own 15.32% of the company’s stock.

Several large investors have recently bought and sold shares of ROKU. Whale Rock Capital Management LLC bought a new position in shares of Roku during the 2nd quarter worth about $580,380,000. BlackRock Inc. increased its holdings in shares of Roku by 7.0% during the 3rd quarter. BlackRock Inc. now owns 7,406,170 shares of the company’s stock worth $2,320,722,000 after purchasing an additional 483,373 shares during the period. Allianz Asset Management GmbH increased its holdings in shares of Roku by 16.9% during the 2nd quarter. Allianz Asset Management GmbH now owns 3,122,661 shares of the company’s stock worth $1,434,082,000 after purchasing an additional 450,985 shares during the period. 1832 Asset Management L.P. increased its holdings in shares of Roku by 97,797.7% during the 2nd quarter. 1832 Asset Management L.P. now owns 293,693 shares of the company’s stock worth $127,685,000 after purchasing an additional 293,393 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Roku by 3.7% during the 2nd quarter. Vanguard Group Inc. now owns 7,899,493 shares of the company’s stock worth $3,627,842,000 after purchasing an additional 279,159 shares during the period. Institutional investors own 60.97% of the company’s stock.

About Roku (NASDAQ:ROKU)

Roku, Inc engages in the provision of a streaming platform for television. It operates through the following business segments: Player and Platform. The Player segment consists of net sales of streaming media players and accessories through retailers and distributors, as well as directly to customers through the company’s website.

Further Reading: Compound Annual Growth Rate (CAGR)

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