Roku’s (ROKU) “Neutral” Rating Reiterated at Rosenblatt Securities

Roku (NASDAQ:ROKU)‘s stock had its “neutral” rating reaffirmed by Rosenblatt Securities in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $89.00 price objective on the stock. Rosenblatt Securities’ price target points to a potential upside of 41.70% from the stock’s current price.

ROKU has been the topic of several other reports. Citigroup lowered their price objective on shares of Roku from $110.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 21st. Stephens reissued an “overweight” rating and set a $105.00 target price on shares of Roku in a research note on Friday, February 16th. Susquehanna lifted their target price on shares of Roku from $100.00 to $110.00 and gave the company a “positive” rating in a research note on Friday, February 16th. Pivotal Research decreased their target price on shares of Roku from $85.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, February 16th. Finally, Wells Fargo & Company decreased their target price on shares of Roku from $51.00 to $45.00 and set an “underweight” rating for the company in a research note on Friday, April 12th. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Roku currently has a consensus rating of “Hold” and a consensus price target of $85.05.

Roku Stock Performance

NASDAQ ROKU opened at $62.81 on Friday. Roku has a twelve month low of $51.62 and a twelve month high of $108.84. The stock has a market cap of $9.01 billion, a price-to-earnings ratio of -12.51 and a beta of 1.66. The firm’s 50 day moving average price is $63.11 and its two-hundred day moving average price is $78.59.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Thursday, April 25th. The company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.64) by $0.29. Roku had a negative net margin of 20.36% and a negative return on equity of 29.21%. The firm had revenue of $881.50 million for the quarter, compared to analysts’ expectations of $843.54 million. During the same period in the previous year, the company posted ($1.38) EPS. The company’s quarterly revenue was up 19.0% compared to the same quarter last year. On average, research analysts forecast that Roku will post -2.12 EPS for the current fiscal year.

Insider Activity at Roku

In other Roku news, Director Jeffrey M. Blackburn bought 8,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were acquired at an average price of $63.96 per share, with a total value of $511,680.00. Following the completion of the purchase, the director now directly owns 8,000 shares in the company, valued at approximately $511,680. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Roku news, SVP Stephen H. Kay sold 4,310 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.20, for a total value of $272,392.00. Following the transaction, the senior vice president now directly owns 81,459 shares in the company, valued at $5,148,208.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jeffrey M. Blackburn purchased 8,000 shares of Roku stock in a transaction on Wednesday, March 13th. The stock was purchased at an average price of $63.96 per share, for a total transaction of $511,680.00. Following the completion of the transaction, the director now owns 8,000 shares of the company’s stock, 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 over the last quarter. 13.63% of the stock is owned by company insiders.

Hedge Funds Weigh In On Roku

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ROKU. GAMMA Investing LLC acquired a new position in Roku in the fourth quarter valued at about $27,000. Creative Financial Designs Inc. ADV acquired a new position in shares of Roku during the fourth quarter worth approximately $29,000. Federated Hermes Inc. acquired a new position in shares of Roku during the third quarter worth approximately $37,000. Quarry LP lifted its position in shares of Roku by 160.2% during the fourth quarter. Quarry LP now owns 432 shares of the company’s stock worth $40,000 after purchasing an additional 266 shares in the last quarter. Finally, Headinvest LLC acquired a new position in shares of Roku during the third quarter worth approximately $42,000. 86.30% of the stock is currently owned by institutional investors and hedge funds.

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.