Wells Fargo & Company Raises Roku (NASDAQ:ROKU) Price Target to $52.00

Roku (NASDAQ:ROKU) had its price target increased by analysts at Wells Fargo & Company from $45.00 to $52.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential downside of 8.27% from the stock’s previous close.

ROKU has been the subject of a number of other reports. Wedbush decreased their price target on Roku from $80.00 to $75.00 and set an “outperform” rating for the company in a report on Friday. Benchmark reduced their price objective on Roku from $115.00 to $105.00 and set a “buy” rating for the company in a research note on Friday. Stephens reissued an “overweight” rating and issued a $105.00 price objective on shares of Roku in a research note on Friday, February 16th. Morgan Stanley reduced their price objective on Roku from $65.00 to $60.00 and set an “underweight” rating for the company in a research note on Friday, April 5th. Finally, Needham & Company LLC restated a “buy” rating and issued a $100.00 target price on shares of Roku in a report on Friday. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $83.90.

Roku Price Performance

NASDAQ:ROKU traded down $6.12 during trading hours on Friday, reaching $56.69. The company had a trading volume of 14,480,993 shares, compared to its average volume of 5,759,566. Roku has a 1-year low of $51.62 and a 1-year high of $108.84. The firm has a market cap of $8.14 billion, a PE ratio of -11.26 and a beta of 1.66. The business’s 50 day moving average price is $63.11 and its 200-day moving average price is $78.59.

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

Insider Transactions at Roku

In other news, Director Jeffrey M. Blackburn bought 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were purchased at an average price of $63.96 per share, with a total value of $511,680.00. Following the purchase, the director now owns 8,000 shares in the company, valued at $511,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Jeffrey M. Blackburn purchased 8,000 shares of Roku stock in a transaction on Wednesday, March 13th. The shares were bought at an average price of $63.96 per share, with a total value of $511,680.00. Following the transaction, the director now directly owns 8,000 shares of the company’s stock, valued at $511,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the business’s 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 54,545 shares of company stock worth $4,364,035. 13.63% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new position in Roku during the fourth quarter worth approximately $27,000. Creative Financial Designs Inc. ADV acquired a new position in Roku during the fourth quarter worth approximately $29,000. Federated Hermes Inc. acquired a new position in Roku during the third quarter worth approximately $37,000. Quarry LP increased its holdings in shares of Roku by 160.2% in 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 period. Finally, Headinvest LLC acquired a new position in shares of Roku in the third quarter valued at approximately $42,000. Institutional investors and hedge funds 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.