Roku (NASDAQ:ROKU) Given Neutral Rating at Piper Sandler

Piper Sandler reissued their neutral rating on shares of Roku (NASDAQ:ROKU) in a report published on Friday, Benzinga reports. The firm currently has a $65.00 price target on the stock, down from their previous price target of $81.00.

Several other equities research analysts also recently commented on ROKU. Rosenblatt Securities reaffirmed a neutral rating and set a $89.00 price objective on shares of Roku in a report on Friday. Wedbush dropped their price objective on shares of Roku from $120.00 to $80.00 and set an outperform rating on the stock in a report on Friday, April 19th. Morgan Stanley dropped their price objective 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. Oppenheimer downgraded shares of Roku from an outperform rating to a market perform rating in a report on Friday, February 16th. Finally, Pivotal Research lowered 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. 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 stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $83.90.

Roku Stock Performance

ROKU opened at $56.35 on Friday. The firm has a market cap of $8.09 billion, a P/E ratio of -14.12 and a beta of 1.66. The firm has a 50-day moving average of $62.80 and a 200 day moving average of $78.48. Roku has a fifty-two week low of $51.62 and a fifty-two week high of $108.84.

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

Insiders Place Their Bets

In other news, Director Jeffrey M. Blackburn bought 8,000 shares of the stock in a transaction dated Wednesday, March 13th. The stock was purchased at an average cost of $63.96 per share, for a total transaction of $511,680.00. Following the transaction, the director now owns 8,000 shares of the company’s stock, valued at $511,680. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Jeffrey M. Blackburn bought 8,000 shares of the stock in a transaction dated Wednesday, March 13th. The stock was purchased at an average cost of $63.96 per share, for a total transaction of $511,680.00. Following the transaction, the director now owns 8,000 shares of the company’s stock, valued at $511,680. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were 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 $13,930,039.44. The disclosure for this sale can be found here. Insiders sold 54,545 shares of company stock worth $4,364,035 in the last three months. 13.63% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Harbour Investments Inc. lifted its position in Roku by 3.3% in the third quarter. Harbour Investments Inc. now owns 3,499 shares of the company’s stock worth $247,000 after buying an additional 113 shares during the last quarter. Avantax Advisory Services Inc. lifted its position in Roku by 0.9% in the fourth quarter. Avantax Advisory Services Inc. now owns 12,949 shares of the company’s stock worth $1,187,000 after buying an additional 117 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Roku by 0.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 50,971 shares of the company’s stock worth $4,415,000 after buying an additional 150 shares during the last quarter. Spire Wealth Management lifted its position in Roku by 35.3% in the third quarter. Spire Wealth Management now owns 621 shares of the company’s stock worth $44,000 after buying an additional 162 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in Roku by 0.5% in the third quarter. Arizona State Retirement System now owns 33,655 shares of the company’s stock worth $2,376,000 after buying an additional 173 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors.

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.