Roku (NASDAQ:ROKU) PT Raised to $52.00

Roku (NASDAQ:ROKU) had its price target lifted by equities research analysts at Wells Fargo & Company from $45.00 to $52.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential downside of 7.72% from the stock’s current price.

ROKU has been the subject of several other research reports. Rosenblatt Securities restated a “neutral” rating and set a $89.00 price objective on shares of Roku in a report on Friday. Stephens restated an “overweight” rating and set a $105.00 price objective on shares of Roku in a report on Friday, February 16th. Piper Sandler restated a “neutral” rating and set a $65.00 price objective (down previously from $81.00) on shares of Roku in a report on Friday. Susquehanna boosted their price objective on Roku from $100.00 to $110.00 and gave the company a “positive” rating in a report on Friday, February 16th. Finally, Citigroup decreased their price objective on Roku from $110.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, February 21st. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Roku currently has a consensus rating of “Hold” and an average target price of $86.05.

Roku Stock Performance

Shares of ROKU stock opened at $56.35 on Friday. The company has a market cap of $8.09 billion, a P/E ratio of -14.12 and a beta of 1.66. The stock has a 50 day simple moving average of $62.80 and a two-hundred day simple moving average of $78.52. Roku has a fifty-two week low of $51.62 and a fifty-two week high of $108.84.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, April 25th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.29. The business had revenue of $881.50 million during the quarter, compared to the consensus estimate of $843.54 million. Roku had a negative return on equity of 23.73% and a negative net margin of 15.64%. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same period in the previous year, the company posted ($1.38) earnings per share. On average, research analysts predict that Roku will post -2.12 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ROKU. GAMMA Investing LLC purchased a new position in shares of Roku during the 4th quarter valued at $27,000. Creative Financial Designs Inc. ADV purchased a new position in shares of Roku during the 4th quarter valued at $29,000. Federated Hermes Inc. purchased a new position in shares of Roku during the 3rd quarter valued at $37,000. Quarry LP lifted its holdings in Roku by 160.2% during the 4th quarter. Quarry LP now owns 432 shares of the company’s stock worth $40,000 after purchasing an additional 266 shares in the last quarter. Finally, Headinvest LLC purchased a new stake in Roku during the 3rd quarter worth about $42,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

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.