Wedbush Reiterates Outperform Rating for Roku (NASDAQ:ROKU)

Roku (NASDAQ:ROKU)‘s stock had its “outperform” rating reaffirmed by Wedbush in a report issued on Thursday, Marketbeat.com reports. They currently have a $75.00 price objective on the stock. Wedbush’s target price would suggest a potential upside of 25.15% from the company’s current price.

ROKU has been the topic of a number of other research reports. Morgan Stanley lowered their target price on shares of Roku from $65.00 to $60.00 and set an “underweight” rating on the stock in a research note on Friday, April 5th. Seaport Res Ptn upgraded Roku from a “neutral” rating to a “buy” rating in a research report on Monday, April 29th. Jefferies Financial Group started coverage on Roku in a research note on Thursday, May 2nd. They issued an “underperform” rating and a $50.00 price target for the company. Rosenblatt Securities reiterated a “neutral” rating and set a $89.00 price objective on shares of Roku in a research report on Friday, April 26th. Finally, Needham & Company LLC restated a “buy” rating and set a $100.00 target price on shares of Roku in a research report on Thursday, June 20th. 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’s stock. According to data from MarketBeat, Roku presently has a consensus rating of “Hold” and a consensus price target of $82.50.

Roku Stock Performance

NASDAQ:ROKU opened at $59.93 on Thursday. The stock has a 50-day simple moving average of $57.94 and a two-hundred day simple moving average of $70.78. The firm has a market capitalization of $8.64 billion, a PE ratio of -15.02 and a beta of 1.92. Roku has a 52-week low of $51.51 and a 52-week 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 analysts’ consensus estimates of ($0.64) by $0.29. Roku had a negative return on equity of 23.81% and a negative net margin of 15.64%. The company had revenue of $881.50 million during the quarter, compared to the consensus estimate of $843.54 million. During the same period in the previous year, the company posted ($1.38) EPS. The firm’s revenue was up 19.0% on a year-over-year basis. Equities analysts forecast that Roku will post -1.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Stephen H. Kay sold 12,124 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was 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 available at this link. In other news, SVP Stephen H. Kay sold 3,322 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $57.09, for a total transaction of $189,652.98. Following the completion of the sale, the senior vice president now directly owns 82,036 shares of the company’s stock, valued at $4,683,435.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Stephen H. Kay sold 12,124 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $55.59, for a total transaction of $673,973.16. Following the completion of the transaction, the senior vice president now owns 91,905 shares in the company, valued at $5,108,998.95. The disclosure for this sale can be found here. Insiders have sold 23,898 shares of company stock valued at $1,347,966 in the last ninety days. 13.98% of the stock is owned by company insiders.

Institutional Investors Weigh In On Roku

Several large investors have recently added to or reduced their stakes in the stock. Invesco Ltd. grew its stake in Roku by 7.1% in the third quarter. Invesco Ltd. now owns 231,029 shares of the company’s stock worth $16,308,000 after purchasing an additional 15,379 shares in the last quarter. LPL Financial LLC increased its stake in shares of Roku by 3.7% during the third quarter. LPL Financial LLC now owns 116,600 shares of the company’s stock valued at $8,231,000 after buying an additional 4,122 shares during the period. Mariner LLC raised its holdings in shares of Roku by 4.1% in the third quarter. Mariner LLC now owns 38,655 shares of the company’s stock valued at $2,729,000 after acquiring an additional 1,521 shares in the last quarter. Stifel Financial Corp lifted its stake in Roku by 1.9% in the third quarter. Stifel Financial Corp now owns 44,192 shares of the company’s stock worth $3,120,000 after acquiring an additional 827 shares during the period. Finally, Federated Hermes Inc. bought a new position in Roku during the 3rd quarter worth about $37,000. 86.30% of the stock is owned by hedge funds and other institutional investors.

Roku Company Profile

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.