Analysts’ Recent Ratings Changes for Roku (ROKU)

Roku (NASDAQ: ROKU) has recently received a number of price target changes and ratings updates:

• 4/19/2024 – Roku had its price target lowered by analysts at Wedbush from $120.00 to $80.00. They now have an “outperform” rating on the stock.
• 4/19/2024 – Roku had its “buy” rating reaffirmed by analysts at Benchmark Co.. They now have a $115.00 price target on the stock.
• 4/12/2024 – Roku had its price target lowered by analysts at Wells Fargo & Company from $51.00 to $45.00. They now have an “underweight” rating on the stock.
• 4/5/2024 – Roku had its price target lowered by analysts at Morgan Stanley from $65.00 to $60.00. They now have an “underweight” rating on the stock.
• 2/27/2024 – Roku was downgraded by analysts at Wells Fargo & Company from an “equal weight” rating to an “underweight” rating. They now have a $51.00 price target on the stock, down previously from $77.00.

Roku Price Performance

Shares of ROKU opened at $61.83 on Thursday. The firm’s 50 day simple moving average is $63.74 and its 200 day simple moving average is $78.70. The company has a market capitalization of $8.87 billion, a P/E ratio of -12.32 and a beta of 1.66. Roku, Inc. has a 1-year low of $51.62 and a 1-year high of $108.84.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, February 15th. The company reported ($0.55) EPS for the quarter, topping the consensus estimate of ($0.65) by $0.10. The firm had revenue of $984.40 million for the quarter, compared to the consensus estimate of $967.72 million. Roku had a negative net margin of 20.36% and a negative return on equity of 29.21%. The business’s revenue was up 13.5% compared to the same quarter last year. During the same period last year, the firm posted ($1.70) earnings per share. On average, equities analysts anticipate that Roku, Inc. will post -2.12 earnings per share for the current year.

Insider Transactions at Roku

In other news, SVP Stephen H. Kay sold 4,310 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $63.20, for a total transaction of $272,392.00. Following the sale, the senior vice president now owns 81,459 shares in the company, valued at approximately $5,148,208.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $98.64, for a total value of $2,466,000.00. Following the completion of the transaction, the chief executive officer now owns 141,221 shares of the company’s stock, valued at approximately $13,930,039.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Stephen H. Kay sold 4,310 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.20, for a total value of $272,392.00. Following the completion of the transaction, the senior vice president now directly owns 81,459 shares of the company’s stock, valued at approximately $5,148,208.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,545 shares of company stock worth $4,364,035. Insiders own 13.63% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Spire Wealth Management grew its stake in shares of Roku by 77.9% during the 1st quarter. Spire Wealth Management now owns 1,224 shares of the company’s stock valued at $80,000 after acquiring an additional 536 shares during the period. Global Retirement Partners LLC grew its stake in shares of Roku by 76.5% during the 1st quarter. Global Retirement Partners LLC now owns 1,207 shares of the company’s stock valued at $79,000 after acquiring an additional 523 shares during the period. Kessler Investment Group LLC grew its stake in shares of Roku by 2.6% during the 1st quarter. Kessler Investment Group LLC now owns 62,233 shares of the company’s stock valued at $4,056,000 after acquiring an additional 1,593 shares during the period. PFG Investments LLC bought a new position in Roku in the 1st quarter worth approximately $305,000. Finally, IFM Investors Pty Ltd boosted its stake in Roku by 8.3% in the 1st quarter. IFM Investors Pty Ltd now owns 24,440 shares of the company’s stock worth $1,593,000 after purchasing an additional 1,864 shares during the period. 86.30% of the stock is currently owned by institutional investors.

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.