Pivotal Research Has Lowered Expectations for Roku (NASDAQ:ROKU) Stock Price

Roku (NASDAQ:ROKU - Free Report) had its price objective decreased by Pivotal Research from $125.00 to $100.00 in a research report sent to investors on Friday morning, MarketBeat.com reports. Pivotal Research currently has a buy rating on the stock.

Several other analysts have also weighed in on the company. Moffett Nathanson raised Roku from a "sell" rating to a "neutral" rating and set a $70.00 price objective for the company in a report on Tuesday, March 4th. Wedbush lowered their target price on shares of Roku from $125.00 to $100.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. UBS Group reduced their price target on shares of Roku from $90.00 to $72.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Wells Fargo & Company dropped their price objective on shares of Roku from $129.00 to $93.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Finally, JMP Securities restated a "market outperform" rating and issued a $95.00 target price on shares of Roku in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $87.93.

Roku Price Performance

Roku stock traded down $0.50 during midday trading on Friday, hitting $59.92. 2,197,308 shares of the stock were exchanged, compared to its average volume of 3,752,283. The company has a 50 day moving average price of $68.16 and a two-hundred day moving average price of $75.01. The firm has a market cap of $8.75 billion, a P/E ratio of -67.11 and a beta of 2.06. 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 quarterly earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, topping analysts' consensus estimates of ($0.27) by $0.08. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the company earned ($0.35) earnings per share. The business's quarterly revenue was up 15.8% compared to the same quarter last year. As a group, analysts predict that Roku will post -0.3 EPS for the current year.

Insider Activity

In other Roku news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $75,000.00. Following the transaction, the chief financial officer now owns 68,843 shares in the company, valued at approximately $5,163,225. The trade was a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Matthew C. Banks sold 1,906 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $80.36, for a total value of $153,166.16. Following the sale, the chief accounting officer now owns 7,256 shares of the company's stock, valued at $583,092.16. This trade represents a 20.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,111 shares of company stock worth $6,575,362 over the last 90 days. 13.98% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Geneos Wealth Management Inc. boosted its stake in Roku by 369.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 343 shares of the company's stock worth $25,000 after purchasing an additional 270 shares during the period. Garde Capital Inc. purchased a new stake in Roku in the 1st quarter worth about $25,000. Vision Financial Markets LLC purchased a new position in Roku during the 4th quarter valued at about $30,000. Golden State Wealth Management LLC lifted its position in shares of Roku by 125.4% in the first quarter. Golden State Wealth Management LLC now owns 444 shares of the company's stock worth $31,000 after purchasing an additional 247 shares in the last quarter. Finally, Game Plan Financial Advisors LLC acquired a new stake in shares of Roku during the fourth quarter worth approximately $37,000. 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.