Roku’s (ROKU) Outperform Rating Reaffirmed at Wedbush

Wedbush reaffirmed their outperform rating on shares of Roku (NASDAQ:ROKU) in a research report released on Thursday, MarketBeat.com reports. Wedbush currently has a $75.00 price target on the stock.

A number of other equities research analysts have also weighed in on the company. Piper Sandler reaffirmed a neutral rating and issued a $65.00 price objective (down previously from $81.00) on shares of Roku in a report on Friday, April 26th. Susquehanna cut their price objective on Roku from $110.00 to $80.00 and set a positive rating for the company in a research report on Monday, April 29th. Morgan Stanley reduced their target price on Roku from $65.00 to $60.00 and set an underweight rating for the company in a report on Friday, April 5th. Citigroup lowered their price target on shares of Roku from $75.00 to $70.00 and set a neutral rating on the stock in a research note on Tuesday, April 30th. Finally, Rosenblatt Securities reiterated a neutral rating and issued a $89.00 price objective on shares of Roku in a research note on Friday, April 26th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Roku has an average rating of Hold and a consensus price target of $82.50.

Roku Stock Performance

Roku stock opened at $59.15 on Thursday. The business has a 50 day simple moving average of $57.88 and a 200-day simple moving average of $71.08. Roku has a 12 month low of $51.51 and a 12 month high of $108.84.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, April 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $843.54 million. During the same period in the previous year, the company posted ($1.38) EPS. Roku’s revenue was up 19.0% compared to the same quarter last year. As a group, research analysts anticipate that Roku will post -1.94 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Charles Collier sold 7,181 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $57.03, for a total value of $409,532.43. Following the completion of the transaction, the insider now directly owns 15,654 shares in the company, valued at $892,747.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Roku news, SVP Stephen H. Kay sold 12,124 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $55.59, for a total transaction of $673,973.16. Following the transaction, the senior vice president now owns 91,905 shares of the company’s stock, valued at $5,108,998.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Charles Collier sold 7,181 shares of Roku stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $57.03, for a total transaction of $409,532.43. Following the completion of the transaction, the insider now owns 15,654 shares in the company, valued at approximately $892,747.62. The disclosure for this sale can be found here. Insiders have sold a total of 23,898 shares of company stock valued at $1,347,966 in the last quarter. 13.98% of the stock is currently owned by company insiders.

Institutional Trading of Roku

Institutional investors and hedge funds have recently made changes to their positions in the company. Harbour Investments Inc. grew its position in Roku by 3.3% during the third quarter. Harbour Investments Inc. now owns 3,499 shares of the company’s stock valued at $247,000 after acquiring an additional 113 shares during the period. Avantax Advisory Services Inc. grew its holdings in shares of Roku by 0.9% during the 4th quarter. Avantax Advisory Services Inc. now owns 12,949 shares of the company’s stock worth $1,187,000 after purchasing an additional 117 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Roku by 0.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 50,971 shares of the company’s stock worth $4,415,000 after purchasing an additional 150 shares in the last quarter. Benjamin Edwards Inc. raised its holdings in Roku by 43.5% in the first quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock valued at $40,000 after buying an additional 187 shares during the period. Finally, Amalgamated Bank lifted its position in Roku by 1.0% during the fourth quarter. Amalgamated Bank now owns 19,820 shares of the company’s stock valued at $1,817,000 after buying an additional 191 shares in the last quarter. 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.