Roku (NASDAQ:ROKU) Price Target Cut to $72.00 by Analysts at Macquarie

Roku (NASDAQ:ROKU) had its target price lowered by Macquarie from $88.00 to $72.00 in a research report report published on Friday, Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other research firms also recently weighed in on ROKU. Rosenblatt Securities decreased their target price on Roku from $89.00 to $61.00 and set a neutral rating on the stock in a research report on Friday. Wells Fargo & Company boosted their price objective on Roku from $45.00 to $52.00 and gave the company an underweight rating in a research report on Friday, April 26th. Piper Sandler restated a neutral rating and issued a $65.00 target price (down from $81.00) on shares of Roku in a research note on Friday, April 26th. Benchmark reiterated a buy rating and set a $105.00 price target on shares of Roku in a research note on Friday. Finally, Seaport Res Ptn upgraded shares of Roku from a neutral rating to a buy rating in a research note on Monday, April 29th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Roku presently has a consensus rating of Hold and an average price target of $79.71.

Roku Stock Down 4.0 %

Shares of ROKU stock opened at $53.14 on Friday. Roku has a 12 month low of $51.51 and a 12 month high of $108.84. The firm has a market cap of $7.66 billion, a PE ratio of -13.32 and a beta of 1.96. The stock has a 50 day moving average of $58.43 and a 200-day moving average of $65.28.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.21. The firm had revenue of $968.18 million during the quarter, compared to analysts’ expectations of $937.78 million. Roku had a negative net margin of 13.16% and a negative return on equity of 21.17%. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.76) EPS. As a group, equities analysts predict that Roku will post -1.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other Roku news, Director Mai Fyfield sold 650 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $57.88, for a total transaction of $37,622.00. Following the transaction, the director now directly owns 3,259 shares in the company, valued at approximately $188,630.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Roku news, Director Mai Fyfield sold 650 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $57.88, for a total transaction of $37,622.00. Following the transaction, the director now directly owns 3,259 shares in the company, valued at approximately $188,630.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Charles Collier sold 3,590 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $65.00, for a total transaction of $233,350.00. Following the transaction, the insider now owns 12,064 shares in the company, valued at $784,160. The disclosure for this sale can be found here. Insiders have sold a total of 27,075 shares of company stock valued at $1,556,005 in the last 90 days. 13.98% of the stock is currently owned by insiders.

Institutional Trading of Roku

A number of hedge funds have recently modified their holdings of ROKU. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Roku by 24.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock valued at $478,939,000 after acquiring an additional 1,457,925 shares during the period. Nikko Asset Management Americas Inc. raised its position in shares of Roku by 25.8% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock valued at $462,108,000 after acquiring an additional 1,455,408 shares during the period. Norges Bank acquired a new stake in shares of Roku in the 4th quarter valued at approximately $90,386,000. Quadrature Capital Ltd acquired a new stake in shares of Roku in the 4th quarter valued at approximately $35,856,000. Finally, Vanguard Group Inc. raised its position in shares of Roku by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 11,853,947 shares of the company’s stock valued at $1,086,533,000 after acquiring an additional 380,409 shares during the period. 86.30% of the stock is currently owned by institutional investors and hedge funds.

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.