Roku (NASDAQ:ROKU) Stock Rating Reaffirmed by Piper Sandler

Roku (NASDAQ:ROKU)‘s stock had its “neutral” rating reissued by investment analysts at Piper Sandler in a research note issued to investors on Friday, Benzinga reports. They presently have a $65.00 price objective on the stock, down from their previous price objective of $81.00. Piper Sandler’s target price points to a potential upside of 15.35% from the stock’s current price.

Several other analysts have also recently weighed in on ROKU. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Roku in a research report on Friday. Pivotal Research cut their price objective on Roku from $85.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, February 16th. Benchmark cut their price objective on Roku from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday. Oppenheimer cut Roku from an “outperform” rating to a “market perform” rating in a research report on Friday, February 16th. Finally, Wedbush cut their price objective on Roku from $120.00 to $80.00 and set an “outperform” rating on the stock in a research report on Friday, April 19th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $86.05.

Roku Price Performance

Shares of NASDAQ:ROKU opened at $56.35 on Friday. Roku has a 1 year low of $51.62 and a 1 year high of $108.84. The company has a market cap of $8.09 billion, a PE ratio of -14.12 and a beta of 1.66. The stock’s 50-day moving average is $62.80 and its 200 day moving average is $78.52.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results 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 23.73% and a negative net margin of 15.64%. The company had revenue of $881.50 million for the quarter, compared to the consensus estimate of $843.54 million. During the same quarter in the previous year, the business earned ($1.38) EPS. Roku’s revenue was up 19.0% compared to the same quarter last year. Analysts expect that Roku will post -2.12 EPS for the current fiscal year.

Insider Activity at Roku

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 shares were sold at an average price of $63.20, for a total transaction of $272,392.00. Following the completion of the sale, the senior vice president now directly 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 available through this link. In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $98.64, for a total transaction of $2,466,000.00. Following the completion of the sale, the chief executive officer now directly owns 141,221 shares in the company, valued at approximately $13,930,039.44. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, 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 of the company’s stock, valued at $5,148,208.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,545 shares of company stock valued at $4,364,035. 13.63% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Roku

A number of hedge funds have recently added to or reduced their stakes in the stock. Harbour Investments Inc. increased its stake in shares of Roku by 3.3% in the 3rd quarter. Harbour Investments Inc. now owns 3,499 shares of the company’s stock worth $247,000 after purchasing an additional 113 shares in the last quarter. Avantax Advisory Services Inc. increased its stake in shares of Roku by 0.9% in the 4th quarter. Avantax Advisory Services Inc. now owns 12,949 shares of the company’s stock worth $1,187,000 after purchasing an additional 117 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Roku by 0.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 50,971 shares of the company’s stock worth $4,415,000 after purchasing an additional 150 shares in the last quarter. Spire Wealth Management increased its stake in shares of Roku by 35.3% in the 3rd quarter. Spire Wealth Management now owns 621 shares of the company’s stock worth $44,000 after purchasing an additional 162 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Roku by 0.5% in the 3rd quarter. Arizona State Retirement System now owns 33,655 shares of the company’s stock worth $2,376,000 after purchasing an additional 173 shares in the last quarter. 86.30% of the stock is currently owned by hedge funds and other 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.