Roku’s (ROKU) “Outperform” Rating Reaffirmed at Wedbush

Roku (NASDAQ:ROKU)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a report released on Thursday, Benzinga reports. They currently have a $75.00 price objective on the stock. Wedbush’s price objective indicates a potential upside of 29.83% from the company’s previous close.

A number of other brokerages have also recently issued reports on ROKU. Rosenblatt Securities restated a “neutral” rating and set a $89.00 price objective on shares of Roku in a report on Friday, April 26th. Susquehanna cut their price objective on shares of Roku from $110.00 to $80.00 and set a “positive” rating on the stock in a research report on Monday, April 29th. Benchmark decreased their price target on shares of Roku from $115.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, April 26th. Morgan Stanley cut their price objective on shares of Roku from $65.00 to $60.00 and set an “underweight” rating on the stock in a research report on Friday, April 5th. Finally, Wells Fargo & Company raised their target price on shares of Roku from $45.00 to $52.00 and gave the company an “underweight” rating in a research report on Friday, April 26th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Roku has an average rating of “Hold” and a consensus target price of $82.50.

Roku Stock Performance

ROKU traded up $0.61 during trading on Thursday, reaching $57.77. 588,606 shares of the company’s stock were exchanged, compared to its average volume of 4,951,595. The company’s fifty day moving average price is $57.87 and its 200-day moving average price is $71.16. The firm has a market capitalization of $8.33 billion, a PE ratio of -14.48 and a beta of 1.92. Roku has a fifty-two week low of $51.51 and a fifty-two week high of $108.84.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, April 25th. The company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.29. Roku had a negative return on equity of 23.81% and a negative net margin of 15.64%. The business had revenue of $881.50 million during the quarter, compared to the consensus estimate of $843.54 million. During the same quarter in the prior year, the company posted ($1.38) earnings per share. The firm’s revenue was up 19.0% on a year-over-year basis. Research analysts forecast that Roku will post -1.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Mai Fyfield sold 650 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $57.88, for a total transaction of $37,622.00. Following the completion of the sale, the director now owns 3,259 shares of the company’s stock, valued at approximately $188,630.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Mai Fyfield sold 650 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $57.88, for a total transaction of $37,622.00. Following the completion of the transaction, the director now directly owns 3,259 shares in the company, valued at $188,630.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charles Collier sold 7,181 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $57.03, for a total value of $409,532.43. Following the sale, the insider now owns 15,654 shares in the company, valued at $892,747.62. The disclosure for this sale can be found here. Insiders sold 23,898 shares of company stock worth $1,347,966 in the last quarter. 13.98% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Roku

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Invesco Ltd. lifted its position in shares of Roku by 7.1% in the 3rd quarter. Invesco Ltd. now owns 231,029 shares of the company’s stock worth $16,308,000 after purchasing an additional 15,379 shares during the period. LPL Financial LLC lifted its holdings in Roku by 3.7% in the third quarter. LPL Financial LLC now owns 116,600 shares of the company’s stock valued at $8,231,000 after buying an additional 4,122 shares during the period. Mariner LLC boosted its position in Roku by 4.1% during the third quarter. Mariner LLC now owns 38,655 shares of the company’s stock valued at $2,729,000 after acquiring an additional 1,521 shares during the last quarter. Stifel Financial Corp boosted its position in Roku by 1.9% during the third quarter. Stifel Financial Corp now owns 44,192 shares of the company’s stock valued at $3,120,000 after acquiring an additional 827 shares during the last quarter. Finally, Federated Hermes Inc. acquired a new stake in Roku during the 3rd quarter worth about $37,000. 86.30% of the stock is 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.