Roku (NASDAQ:ROKU) Stock Rating Reaffirmed by Wedbush

Roku (NASDAQ:ROKU)‘s stock had its “outperform” rating restated by equities researchers at Wedbush in a report released on Thursday, RTT News reports. They currently have a $100.00 price target on the stock. Wedbush’s price target would indicate a potential upside of 17.99% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Truist Financial dropped their price target on Roku from $80.00 to $70.00 and set a “hold” rating on the stock in a research note on Monday, October 23rd. Evercore ISI upped their price objective on Roku from $70.00 to $75.00 and gave the company an “in-line” rating in a report on Friday, July 28th. Wells Fargo & Company increased their price objective on Roku from $63.00 to $84.00 and gave the stock an “equal weight” rating in a report on Friday, July 28th. Seaport Res Ptn reaffirmed a “neutral” rating on shares of Roku in a research report on Friday, October 6th. Finally, Needham & Company LLC raised their price objective on Roku from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, September 7th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $81.26.

Roku Stock Up 8.6 %

NASDAQ:ROKU opened at $84.75 on Thursday. Roku has a fifty-two week low of $38.26 and a fifty-two week high of $98.44. The firm’s fifty day simple moving average is $71.49 and its 200-day simple moving average is $69.00. The stock has a market cap of $11.99 billion, a PE ratio of -13.74 and a beta of 1.75.

Roku (NASDAQ:ROKU) last posted its earnings results on Wednesday, November 1st. The company reported ($2.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.91) by ($0.42). Roku had a negative return on equity of 33.70% and a negative net margin of 25.79%. The business had revenue of $912.02 million for the quarter, compared to analyst estimates of $856.98 million. During the same period last year, the company posted ($0.88) EPS. The firm’s revenue for the quarter was up 19.8% compared to the same quarter last year. Equities analysts anticipate that Roku will post -5.5 earnings per share for the current year.

Insider Activity

In other news, CAO Matthew C. Banks sold 2,296 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $85.03, for a total transaction of $195,228.88. Following the completion of the sale, the chief accounting officer now owns 3,100 shares in the company, valued at approximately $263,593. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CAO Matthew C. Banks sold 2,296 shares of the firm’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $85.03, for a total value of $195,228.88. Following the transaction, the chief accounting officer now directly owns 3,100 shares of the company’s stock, valued at approximately $263,593. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gidon Katz sold 1,968 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $80.00, for a total transaction of $157,440.00. Following the completion of the transaction, the insider now directly owns 20,604 shares in the company, valued at $1,648,320. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,988 shares of company stock valued at $1,473,024. 13.63% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Roku

Several hedge funds have recently added to or reduced their stakes in ROKU. MGO One Seven LLC acquired a new position in Roku during the third quarter valued at approximately $203,000. Intrepid Financial Planning Group LLC bought a new stake in Roku during the third quarter valued at $272,000. SteelPeak Wealth LLC increased its stake in Roku by 70.7% during the third quarter. SteelPeak Wealth LLC now owns 6,925 shares of the company’s stock valued at $489,000 after purchasing an additional 2,869 shares during the last quarter. Private Advisor Group LLC boosted its holdings in shares of Roku by 11.6% during the third quarter. Private Advisor Group LLC now owns 14,172 shares of the company’s stock valued at $1,000,000 after acquiring an additional 1,474 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Roku by 10.9% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,136 shares of the company’s stock valued at $292,000 after acquiring an additional 408 shares during the period. 69.21% of the stock is currently owned by hedge funds and other institutional investors.

Roku Company Profile

Roku, Inc, together with its subsidiaries, operates a TV streaming platform. 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 company also provides digital advertising and related services, including the demand-side ad platform and content distribution services, such as subscription and transaction revenue shares; media and entertainment promotional spending services; premium subscriptions services; video and display advertising services; and sells branded channel buttons on remote controls of streaming device.