Loop Capital Cuts Roku (NASDAQ:ROKU) Price Target to $80.00

Roku (NASDAQ:ROKU - Get Free Report) had its price target decreased by equities researchers at Loop Capital from $90.00 to $80.00 in a research report issued on Friday,Benzinga reports. The firm presently has a "hold" rating on the stock. Loop Capital's price objective suggests a potential upside of 29.98% from the stock's current price.

ROKU has been the topic of a number of other reports. Citigroup reaffirmed an "outperform" rating on shares of Roku in a research note on Thursday, April 24th. Compass Point began coverage on shares of Roku in a research report on Sunday, March 23rd. They issued a "buy" rating for the company. Piper Sandler assumed coverage on shares of Roku in a research report on Thursday, April 17th. They set a "neutral" rating and a $65.00 price target on the stock. Pivotal Research dropped their price objective on shares of Roku from $125.00 to $100.00 and set a "buy" rating for the company in a research note on Friday. Finally, Benchmark reissued a "buy" rating and issued a $130.00 target price on shares of Roku in a research note on Friday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $89.46.

Roku Stock Performance

Roku stock traded down $5.72 during trading on Friday, reaching $61.55. The company had a trading volume of 13,858,009 shares, compared to its average volume of 3,748,509. The firm's 50-day simple moving average is $69.14 and its 200 day simple moving average is $75.29. The firm has a market capitalization of $8.98 billion, a PE ratio of -69.16 and a beta of 2.17. Roku has a 1-year low of $48.33 and a 1-year high of $104.96.

Roku (NASDAQ:ROKU - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, topping analysts' consensus estimates of ($0.27) by $0.08. The business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The company's quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.35) earnings per share. Analysts anticipate that Roku will post -0.3 EPS for the current year.

Insider Activity at Roku

In related news, CEO Anthony J. Wood sold 4,600 shares of the business's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $345,000.00. Following the completion of the transaction, the chief executive officer now owns 6,243 shares in the company, valued at approximately $468,225. The trade was a 42.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Dan Jedda sold 5,000 shares of the firm's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $100.40, for a total value of $502,000.00. Following the completion of the sale, the chief financial officer now owns 58,555 shares in the company, valued at approximately $5,878,922. This represents a 7.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 72,111 shares of company stock worth $6,575,362. Company insiders own 13.98% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Fortis Group Advisors LLC lifted its stake in Roku by 15.0% during the first quarter. Fortis Group Advisors LLC now owns 9,315 shares of the company's stock worth $656,000 after purchasing an additional 1,217 shares during the last quarter. Cullen Frost Bankers Inc. lifted its position in shares of Roku by 9,422.2% during the 1st quarter. Cullen Frost Bankers Inc. now owns 857 shares of the company's stock worth $60,000 after buying an additional 848 shares during the last quarter. Wealthfront Advisers LLC boosted its holdings in shares of Roku by 9.1% in the 1st quarter. Wealthfront Advisers LLC now owns 5,634 shares of the company's stock valued at $397,000 after buying an additional 472 shares in the last quarter. Dakota Wealth Management purchased a new position in shares of Roku in the 1st quarter valued at $2,168,000. Finally, OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Roku during the 1st quarter worth $234,000. 86.30% of the stock is owned by institutional investors and hedge funds.

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.

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