Benchmark Reaffirms Buy Rating for Roku (NASDAQ:ROKU)

Benchmark reissued their buy rating on shares of Roku (NASDAQ:ROKU) in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has a $105.00 target price on the stock.

A number of other analysts have also recently issued reports on the company. Wells Fargo & Company raised Roku from an underweight rating to an equal weight rating and increased their target price for the stock from $50.00 to $72.00 in a research note on Thursday, September 5th. JPMorgan Chase & Co. lowered their price objective on shares of Roku from $90.00 to $80.00 and set an overweight rating for the company in a research report on Friday, August 2nd. Guggenheim upgraded shares of Roku from a neutral rating to a buy rating and set a $75.00 price objective on the stock in a report on Friday, August 23rd. Needham & Company LLC reaffirmed a buy rating and issued a $100.00 target price on shares of Roku in a research note on Thursday, June 20th. Finally, Rosenblatt Securities lowered their target price on Roku from $89.00 to $61.00 and set a neutral rating for the company in a report on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Roku currently has a consensus rating of Hold and an average target price of $78.25.

Roku Stock Up 0.8 %

Shares of NASDAQ ROKU opened at $74.69 on Thursday. Roku has a twelve month low of $48.33 and a twelve month high of $108.84. The stock has a market cap of $10.81 billion, a price-to-earnings ratio of -18.72 and a beta of 2.06. The company’s fifty day moving average is $61.88 and its 200-day moving average is $60.73.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.21. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The firm had revenue of $968.18 million for the quarter, compared to analyst estimates of $937.78 million. During the same period in the previous year, the company posted ($0.76) earnings per share. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. On average, research analysts anticipate that Roku will post -1.45 EPS for the current fiscal year.

Insider Buying and Selling

In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total value of $109,012.27. Following the completion of the sale, the insider now owns 38,602 shares in the company, valued at $2,485,582.78. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total value of $109,012.27. Following the sale, the insider now owns 38,602 shares in the company, valued at $2,485,582.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Charles Collier sold 15,454 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total value of $1,159,050.00. Following the completion of the sale, the insider now directly owns 200 shares of the company’s stock, valued at $15,000. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,945 shares of company stock worth $3,389,805. Insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

Several institutional investors and hedge funds have recently modified their holdings of the stock. Granite Bay Wealth Management LLC bought a new stake in shares of Roku during the 2nd quarter worth about $1,142,000. Quarry LP boosted its holdings in shares of Roku by 127.9% during the second quarter. Quarry LP now owns 1,682 shares of the company’s stock worth $101,000 after acquiring an additional 944 shares during the period. Algert Global LLC grew its position in shares of Roku by 144.4% in the second quarter. Algert Global LLC now owns 55,177 shares of the company’s stock valued at $3,307,000 after purchasing an additional 32,603 shares during the last quarter. Empirical Capital Management LLC increased its stake in shares of Roku by 10.0% during the second quarter. Empirical Capital Management LLC now owns 177,000 shares of the company’s stock worth $10,608,000 after purchasing an additional 16,031 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Roku during the 2nd quarter worth approximately $3,437,000. 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.