Roku (NASDAQ:ROKU) Receives Outperform Rating from Wedbush

Wedbush restated their outperform rating on shares of Roku (NASDAQ:ROKU) in a research note published on Friday, Marketbeat.com reports. They currently have a $75.00 price target on the stock.

A number of other brokerages have also commented on ROKU. Seaport Res Ptn upgraded shares of Roku from a neutral rating to a buy rating in a research note on Monday, April 29th. Jefferies Financial Group initiated coverage on shares of Roku in a report on Thursday, May 2nd. They issued an underperform rating and a $50.00 price objective for the company. Needham & Company LLC reissued a buy rating and issued a $100.00 price objective on shares of Roku in a report on Thursday, June 20th. JPMorgan Chase & Co. cut their price objective on shares of Roku from $90.00 to $80.00 and set an overweight rating for the company in a report on Friday. Finally, Susquehanna cut their price objective on shares of Roku from $110.00 to $80.00 and set a positive rating for the company in a report on Monday, April 29th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average price target of $79.71.

Roku Stock Performance

ROKU traded down $2.19 on Friday, reaching $53.14. The company had a trading volume of 7,584,568 shares, compared to its average volume of 3,529,971. Roku has a fifty-two week low of $51.51 and a fifty-two week high of $108.84. The stock has a market cap of $7.66 billion, a P/E ratio of -13.32 and a beta of 1.96. The company’s fifty day moving average is $58.43 and its 200 day moving average is $65.28.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.21. Roku had a negative net margin of 13.16% and a negative return on equity of 21.17%. The business had revenue of $968.18 million for the quarter, compared to analyst estimates of $937.78 million. During the same quarter in the prior year, the business earned ($0.76) EPS. Roku’s quarterly revenue was up 14.3% on a year-over-year basis. On average, sell-side analysts expect that Roku will post -1.94 EPS for the current year.

Insider Buying and Selling at Roku

In other Roku news, insider Charles Collier sold 7,181 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were 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 approximately $892,747.62. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Charles Collier sold 7,181 shares of the 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 sale, the insider now directly owns 15,654 shares in the company, valued at $892,747.62. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction of $189,652.98. Following the sale, the senior vice president now owns 82,036 shares of the company’s stock, valued at $4,683,435.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,075 shares of company stock worth $1,556,005. 13.98% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC acquired a new position in shares of Roku during the fourth quarter valued at about $27,000. Quarry LP grew its holdings in shares of Roku by 160.2% during the fourth quarter. Quarry LP now owns 432 shares of the company’s stock valued at $40,000 after buying an additional 266 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Roku by 1,822.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 596 shares of the company’s stock valued at $55,000 after buying an additional 565 shares during the last quarter. Benjamin Edwards Inc. grew its holdings in shares of Roku by 43.5% during 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 last quarter. Finally, ICA Group Wealth Management LLC acquired a new position in shares of Roku during the fourth quarter valued at about $58,000. 86.30% of the stock is owned by institutional investors.

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.