Wells Fargo & Company Lowers Roku (NASDAQ:ROKU) Price Target to $93.00

Roku (NASDAQ:ROKU) had its target price cut by equities research analysts at Wells Fargo & Company from $129.00 to $93.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 34.24% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. Benchmark reissued a “buy” rating and issued a $130.00 price objective on shares of Roku in a research report on Monday, April 21st. Citizens Jmp raised Roku to a “strong-buy” rating in a research report on Tuesday, January 21st. UBS Group cut their target price on shares of Roku from $90.00 to $72.00 and set a “neutral” rating on the stock in a report on Tuesday, April 15th. Redburn Atlantic raised Roku from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a report on Monday, April 7th. Finally, Bank of America initiated coverage on shares of Roku in a report on Thursday, March 27th. They issued a “buy” rating and a $100.00 price objective on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $90.39.

Roku Trading Up 1.7 %

NASDAQ:ROKU opened at $69.28 on Monday. The firm has a market cap of $10.11 billion, a price-to-earnings ratio of -77.84 and a beta of 2.17. Roku has a 12-month low of $48.33 and a 12-month high of $104.96. The company’s 50-day moving average is $70.04 and its two-hundred day moving average is $75.41.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.20. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.15 billion. On average, equities research analysts forecast that Roku will post -0.3 earnings per share for the current fiscal year.

Insider Transactions at Roku

In other Roku news, CAO Matthew C. Banks sold 1,906 shares of Roku stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $80.36, for a total value of $153,166.16. Following the completion of the sale, the chief accounting officer now directly owns 7,256 shares in the company, valued at $583,092.16. The trade was a 20.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Dan Jedda sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $100.40, for a total value of $502,000.00. Following the sale, the chief financial officer now directly owns 58,555 shares of the company’s stock, valued at $5,878,922. The trade was a 7.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,905 shares of company stock valued at $6,560,876 over the last three months. 13.98% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Roku

Institutional investors and hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. boosted its stake in shares of Roku by 14.5% in the 3rd quarter. Franklin Resources Inc. now owns 82,170 shares of the company’s stock valued at $6,275,000 after purchasing an additional 10,416 shares in the last quarter. Everence Capital Management Inc. acquired a new position in Roku during the fourth quarter valued at approximately $350,000. Oak Thistle LLC bought a new stake in shares of Roku in the 4th quarter valued at $823,000. Avanza Fonder AB bought a new position in shares of Roku during the 4th quarter valued at about $3,499,000. Finally, O Keefe Stevens Advisory Inc. boosted its holdings in shares of Roku by 39.5% in the fourth quarter. O Keefe Stevens Advisory Inc. now owns 3,893 shares of the company’s stock valued at $289,000 after buying an additional 1,102 shares during the period. 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.