Wedbush Cuts Roku (NASDAQ:ROKU) Price Target to $80.00

Roku (NASDAQ:ROKU) had its price target trimmed by Wedbush from $120.00 to $80.00 in a research note published on Friday morning, MarketBeat.com reports. The brokerage currently has an outperform rating on the stock.

A number of other research analysts also recently issued reports on ROKU. Susquehanna boosted their target price on shares of Roku from $100.00 to $110.00 and gave the company a positive rating in a research report on Friday, February 16th. Stephens reiterated an overweight rating and set a $105.00 price objective on shares of Roku in a report on Friday, February 16th. Needham & Company LLC restated a buy rating and issued a $100.00 target price on shares of Roku in a research note on Wednesday, February 21st. Citigroup decreased their target price on Roku from $110.00 to $75.00 and set a neutral rating for the company in a research report on Wednesday, February 21st. Finally, Wells Fargo & Company cut their price target on Roku from $51.00 to $45.00 and set an underweight rating on the stock in a report on Friday, April 12th. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $84.76.

Roku Stock Up 2.9 %

ROKU stock opened at $58.57 on Friday. The firm has a market cap of $8.41 billion, a price-to-earnings ratio of -11.24 and a beta of 1.66. The company’s fifty day simple moving average is $65.69 and its 200 day simple moving average is $78.97. Roku has a 12-month low of $51.62 and a 12-month high of $108.84.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, February 15th. The company reported ($0.55) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.10. The company had revenue of $984.40 million for the quarter, compared to the consensus estimate of $967.72 million. Roku had a negative return on equity of 29.21% and a negative net margin of 20.36%. The firm’s revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.70) EPS. Research analysts expect that Roku will post -2.12 earnings per share for the current year.

Insider Transactions at Roku

In related news, Director Jeffrey M. Blackburn purchased 8,000 shares of Roku stock in a transaction that occurred on Wednesday, March 13th. The stock was bought at an average price of $63.96 per share, for a total transaction of $511,680.00. Following the completion of the transaction, the director now owns 8,000 shares in the company, valued at $511,680. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Roku news, insider Charles Collier sold 4,182 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $65.00, for a total value of $271,830.00. Following the sale, the insider now directly owns 8,474 shares in the company, valued at $550,810. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jeffrey M. Blackburn purchased 8,000 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were purchased at an average price of $63.96 per share, with a total value of $511,680.00. Following the purchase, the director now directly owns 8,000 shares in the company, valued at approximately $511,680. The disclosure for this purchase can be found here. Insiders have sold 54,545 shares of company stock worth $4,364,035 in the last ninety days. Company insiders own 13.63% of the company’s stock.

Institutional Investors Weigh In On Roku

Several institutional investors have recently added to or reduced their stakes in ROKU. FMR LLC lifted its stake in shares of Roku by 85.9% during the 3rd quarter. FMR LLC now owns 9,441,349 shares of the company’s stock valued at $666,465,000 after buying an additional 4,363,754 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Roku by 24.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock worth $478,939,000 after acquiring an additional 1,457,925 shares in the last quarter. Norges Bank bought a new position in shares of Roku in the fourth quarter worth $90,386,000. Lord Abbett & CO. LLC purchased a new position in shares of Roku in the third quarter valued at $55,182,000. Finally, Wellington Management Group LLP raised its stake in shares of Roku by 34.6% during the 3rd quarter. Wellington Management Group LLP now owns 2,543,081 shares of the company’s stock valued at $179,516,000 after purchasing an additional 653,940 shares during the period. 86.30% of the stock is owned by hedge funds and other institutional investors.

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.