Roku (NASDAQ:ROKU) Given New $105.00 Price Target at Benchmark

Roku (NASDAQ:ROKU) had its price objective cut by Benchmark from $115.00 to $105.00 in a research note released on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also issued reports on the company. Stephens reaffirmed an overweight rating and issued a $105.00 target price on shares of Roku in a research note on Friday, February 16th. Needham & Company LLC reaffirmed a buy rating and issued a $100.00 target price on shares of Roku in a research note on Friday. Wedbush reduced their target price on Roku from $120.00 to $80.00 and set an outperform rating on the stock in a research note on Friday, April 19th. Rosenblatt Securities reissued a neutral rating and set a $89.00 price target on shares of Roku in a research note on Friday. Finally, Morgan Stanley reduced their price target on Roku from $65.00 to $60.00 and set an underweight rating on the stock in a research note on Friday, April 5th. Five research 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. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $83.90.

Roku Price Performance

Shares of NASDAQ:ROKU opened at $56.35 on Friday. The business’s 50 day simple moving average is $62.80 and its 200-day simple moving average is $78.48. The firm has a market capitalization of $8.09 billion, a price-to-earnings ratio of -14.12 and a beta of 1.66. Roku has a 12 month low of $51.62 and a 12 month high of $108.84.

Roku (NASDAQ:ROKU) last posted its 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 23.73% and a negative net margin of 15.64%. The firm had revenue of $881.50 million for the quarter, compared to analyst estimates of $843.54 million. During the same quarter in the prior year, the company earned ($1.38) EPS. Roku’s revenue was up 19.0% on a year-over-year basis. On average, equities analysts anticipate that Roku will post -2.12 earnings per share for the current year.

Insider Activity at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of the 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 completion of the sale, the chief executive officer now directly owns 141,221 shares in the company, valued at approximately $13,930,039.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Roku news, insider Charles Collier sold 12,277 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $65.06, for a total value of $798,741.62. Following the completion of the transaction, the insider now directly owns 4,292 shares of the company’s stock, valued at approximately $279,237.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $98.64, for a total transaction of $2,466,000.00. Following the completion of the transaction, the chief executive officer now directly owns 141,221 shares of the company’s stock, valued at $13,930,039.44. The disclosure for this sale can be found here. In the last three months, insiders sold 54,545 shares of company stock worth $4,364,035. Corporate insiders own 13.63% of the company’s stock.

Hedge Funds Weigh In On Roku

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