Roku (NASDAQ:ROKU) PT Lowered to $80.00 at Wedbush

Roku (NASDAQ:ROKU) had its price target lowered by research analysts at Wedbush from $120.00 to $80.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s price objective indicates a potential upside of 36.92% from the company’s previous close.

Several other brokerages also recently weighed in on ROKU. Oppenheimer downgraded Roku from an “outperform” rating to a “market perform” rating in a report on Friday, February 16th. Wells Fargo & Company reduced their price target on Roku from $51.00 to $45.00 and set an “underweight” rating for the company in a report on Friday, April 12th. Stephens restated an “overweight” rating and set a $105.00 price target on shares of Roku in a report on Friday, February 16th. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of Roku in a report on Wednesday, February 21st. Finally, Susquehanna raised their price target on Roku from $100.00 to $110.00 and gave the company a “positive” rating in a report on Friday, February 16th. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $84.76.

Roku Trading Down 0.4 %

Roku stock traded down $0.26 on Friday, hitting $58.43. 480,849 shares of the stock traded hands, compared to its average volume of 5,632,502. The firm has a market cap of $8.39 billion, a P/E ratio of -11.62 and a beta of 1.66. The business’s fifty day simple moving average is $67.19 and its 200 day simple moving average is $79.07. Roku has a 1 year low of $51.62 and a 1 year high of $108.84.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, February 15th. The company reported ($0.55) EPS for the quarter, beating the consensus estimate of ($0.65) by $0.10. The business had revenue of $984.40 million during the quarter, compared to analyst estimates of $967.72 million. Roku had a negative return on equity of 29.21% and a negative net margin of 20.36%. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter last year, the firm posted ($1.70) earnings per share. As a group, analysts predict that Roku will post -2.12 earnings per share for the current year.

Insiders Place Their Bets

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $98.64, for a total value of $2,466,000.00. Following the sale, the chief executive officer now owns 141,221 shares of the company’s stock, valued at approximately $13,930,039.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Roku 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 value 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey M. Blackburn acquired 8,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was acquired at an average cost of $63.96 per share, for a total transaction of $511,680.00. Following the transaction, the director now directly owns 8,000 shares in the company, valued at $511,680. The disclosure for this purchase can be found here. Insiders have sold a total of 54,545 shares of company stock valued at $4,364,035 in the last quarter. 13.63% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Roku

Several hedge funds have recently bought and sold shares of ROKU. Gotham Asset Management LLC lifted its holdings in shares of Roku by 200.3% in the 3rd quarter. Gotham Asset Management LLC now owns 41,128 shares of the company’s stock worth $2,903,000 after buying an additional 27,431 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Roku by 8.2% in the 4th quarter. Nordea Investment Management AB now owns 7,247 shares of the company’s stock worth $669,000 after buying an additional 551 shares during the period. Barclays PLC lifted its holdings in shares of Roku by 13.0% in the 3rd quarter. Barclays PLC now owns 215,766 shares of the company’s stock worth $15,231,000 after buying an additional 24,765 shares during the period. Deutsche Bank AG lifted its holdings in shares of Roku by 27.6% in the 3rd quarter. Deutsche Bank AG now owns 154,729 shares of the company’s stock worth $10,922,000 after buying an additional 33,500 shares during the period. Finally, Vontobel Holding Ltd. lifted its holdings in shares of Roku by 32.4% in the 4th quarter. Vontobel Holding Ltd. now owns 79,771 shares of the company’s stock worth $7,312,000 after buying an additional 19,543 shares during the period. Institutional investors own 86.30% of the company’s stock.

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.