Roku (NASDAQ:ROKU) Given Outperform Rating at Wedbush

Wedbush reiterated their outperform rating on shares of Roku (NASDAQ:ROKU) in a report published on Monday,RTT News reports. Wedbush currently has a $100.00 target price on the stock.

ROKU has been the topic of several other research reports. Citigroup reduced their price target on shares of Roku from $81.00 to $68.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 6th. Pivotal Research dropped their price target on shares of Roku from $125.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Bank of America initiated coverage on shares of Roku in a research note on Thursday, March 27th. They issued a “buy” rating and a $100.00 price target for the company. Evercore ISI dropped their price target on shares of Roku from $105.00 to $80.00 and set an “in-line” rating for the company in a research note on Friday, May 2nd. Finally, Loop Capital dropped their price target on shares of Roku from $90.00 to $80.00 and set a “hold” rating for the company in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.37.

Roku Trading Up 10.4%

Shares of Roku stock opened at $82.17 on Monday. The firm’s 50-day moving average price is $67.99 and its 200 day moving average price is $74.97. Roku has a twelve month low of $48.33 and a twelve month high of $104.96. The firm has a market capitalization of $11.99 billion, a PE ratio of -92.33 and a beta of 2.09.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.08. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The business’s revenue was up 15.8% on a year-over-year basis. During the same period last year, the company posted ($0.35) EPS. On average, sell-side analysts predict that Roku will post -0.3 EPS for the current fiscal year.

Insider Activity at Roku

In other news, insider Charles Collier sold 7,181 shares of the business’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $75.00, for a total transaction of $538,575.00. Following the transaction, the insider now directly owns 10,970 shares in the company, valued at $822,750. The trade was a 39.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Anthony J. Wood sold 4,600 shares of the business’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $345,000.00. Following the transaction, the chief executive officer now owns 6,243 shares in the company, valued at approximately $468,225. This trade represents a 42.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,737 shares of company stock valued at $4,987,114 over the last ninety days. Insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Jacobs Levy Equity Management Inc. increased its holdings in Roku by 505.3% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,296,774 shares of the company’s stock valued at $96,402,000 after buying an additional 1,082,548 shares in the last quarter. Geode Capital Management LLC increased its holdings in Roku by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company’s stock valued at $159,353,000 after buying an additional 56,820 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Roku by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 990,867 shares of the company’s stock valued at $73,661,000 after buying an additional 34,898 shares in the last quarter. Achmea Investment Management B.V. increased its holdings in Roku by 146.4% in the fourth quarter. Achmea Investment Management B.V. now owns 10,168 shares of the company’s stock valued at $756,000 after buying an additional 6,042 shares in the last quarter. Finally, J. Goldman & Co LP increased its holdings in Roku by 973.1% in the fourth quarter. J. Goldman & Co LP now owns 354,326 shares of the company’s stock valued at $26,341,000 after buying an additional 321,307 shares in the last quarter. 86.30% of the stock is 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.