Roku (NASDAQ:ROKU) PT Lowered to $75.00 at Wedbush

Roku (NASDAQ:ROKU) had its price target lowered by Wedbush from $80.00 to $75.00 in a research note issued to investors on Friday, Benzinga reports. Wedbush currently has an outperform rating on the stock.

Other equities research analysts have also issued research reports about the stock. Stephens reissued an overweight rating and issued a $105.00 price target on shares of Roku in a report on Friday, February 16th. Pivotal Research cut their price target on shares of Roku from $85.00 to $75.00 and set a hold rating on the stock in a report on Friday, February 16th. Wells Fargo & Company cut their price target on shares of Roku from $51.00 to $45.00 and set an underweight rating on the stock in a report on Friday, April 12th. Morgan Stanley cut their price target on shares of Roku from $65.00 to $60.00 and set an underweight rating on the stock in a report on Friday, April 5th. Finally, Needham & Company LLC reaffirmed a buy rating and set a $100.00 target price on shares of Roku in a research note on Friday. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $86.05.

Roku Stock Down 10.3 %

ROKU stock opened at $56.35 on Friday. Roku has a 52 week low of $51.62 and a 52 week high of $108.84. The firm’s fifty day moving average is $62.80 and its 200 day moving average is $78.57.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, April 25th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.64) by $0.29. The company had revenue of $881.50 million for the quarter, compared to analyst estimates of $843.54 million. Roku had a negative net margin of 15.64% and a negative return on equity of 23.73%. The firm’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.38) EPS. On average, research analysts forecast that Roku will post -2.12 earnings per share for the current fiscal year.

Insider Activity at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction dated 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 transaction, the chief executive officer now directly owns 141,221 shares of the company’s stock, valued at approximately $13,930,039.44. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Jeffrey M. Blackburn bought 8,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was acquired at an average cost of $63.96 per share, with a total value of $511,680.00. Following the completion of the acquisition, the director now owns 8,000 shares of the company’s stock, valued at $511,680. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $2,466,000.00. Following the completion of the transaction, the chief executive officer now directly owns 141,221 shares of the company’s stock, valued at $13,930,039.44. The disclosure for this sale can be found here. Insiders sold a total of 54,545 shares of company stock valued at $4,364,035 in the last three months. Company insiders own 13.63% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ROKU. GAMMA Investing LLC purchased a new position in shares of Roku during the fourth quarter valued at approximately $27,000. Creative Financial Designs Inc. ADV purchased a new position in shares of Roku during the fourth quarter valued at approximately $29,000. Federated Hermes Inc. purchased a new position in shares of Roku during the third quarter valued at approximately $37,000. Quarry LP raised its holdings in shares of Roku by 160.2% during the fourth quarter. Quarry LP now owns 432 shares of the company’s stock valued at $40,000 after purchasing an additional 266 shares during the last quarter. Finally, Headinvest LLC purchased a new position in shares of Roku during the third quarter valued at approximately $42,000. 86.30% of the stock is owned by hedge funds and other institutional investors.

Roku Company Profile

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.