Benchmark Reaffirms “Buy” Rating for Roku (NASDAQ:ROKU)

Roku (NASDAQ:ROKU)‘s stock had its “buy” rating restated by stock analysts at Benchmark in a report issued on Wednesday, Benzinga reports. They presently have a $105.00 price target on the stock. Benchmark’s price target would indicate a potential upside of 73.07% from the stock’s current price.

A number of other equities analysts have also commented on the company. Wedbush reissued an “outperform” rating and set a $75.00 price target on shares of Roku in a research note on Thursday, June 27th. Piper Sandler restated a “neutral” rating and issued a $65.00 price target (down previously from $81.00) on shares of Roku in a research report on Friday, April 26th. Wells Fargo & Company increased their price objective 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. Susquehanna reduced their target price on shares of Roku from $110.00 to $80.00 and set a “positive” rating on the stock in a report on Monday, April 29th. Finally, Morgan Stanley decreased their target price 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. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $82.50.

Roku Price Performance

Roku stock opened at $60.67 on Wednesday. Roku has a 1 year low of $51.51 and a 1 year high of $108.84. The firm’s 50 day moving average price is $58.34 and its 200-day moving average price is $68.66. The stock has a market cap of $8.75 billion, a P/E ratio of -15.21 and a beta of 1.96.

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

Insider Activity at Roku

In other Roku news, SVP Stephen H. Kay sold 3,322 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $57.09, for a total value of $189,652.98. Following the sale, the senior vice president now owns 82,036 shares in the company, valued at $4,683,435.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Roku news, SVP Stephen H. Kay sold 12,124 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $55.59, for a total value of $673,973.16. Following the completion of the sale, the senior vice president now directly owns 91,905 shares of the company’s stock, valued at approximately $5,108,998.95. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Stephen H. Kay sold 3,322 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $57.09, for a total transaction of $189,652.98. Following the completion of the transaction, the senior vice president now owns 82,036 shares in the company, valued at $4,683,435.24. The disclosure for this sale can be found here. Insiders sold a total of 23,691 shares of company stock worth $1,334,455 in the last quarter. 13.98% of the stock is owned by company insiders.

Institutional Trading of Roku

Large investors have recently modified their holdings of the company. Warther Private Wealth LLC increased its holdings in Roku by 35.4% during the 2nd quarter. Warther Private Wealth LLC now owns 99,730 shares of the company’s stock worth $5,977,000 after purchasing an additional 26,053 shares during the period. Harbor Capital Advisors Inc. purchased a new position in shares of Roku during the second quarter valued at $496,000. Versant Capital Management Inc raised its holdings in shares of Roku by 706.2% in the second quarter. Versant Capital Management Inc now owns 911 shares of the company’s stock valued at $55,000 after acquiring an additional 798 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Roku by 2.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 15,408 shares of the company’s stock worth $1,007,000 after acquiring an additional 438 shares during the period. Finally, EULAV Asset Management grew its holdings in Roku by 59.2% during the 1st quarter. EULAV Asset Management now owns 121,000 shares of the company’s stock worth $7,886,000 after acquiring an additional 45,000 shares in the last quarter. 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.