Roku (NASDAQ:ROKU) Stock Price Up 1.5% - What's Next?

Roku, Inc. (NASDAQ:ROKU - Get Free Report) shot up 1.5% on Thursday . The company traded as high as $61.13 and last traded at $60.76. 762,477 shares were traded during mid-day trading, a decline of 80% from the average session volume of 3,753,054 shares. The stock had previously closed at $59.89.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ROKU shares. Benchmark reissued a "buy" rating and set a $130.00 price objective on shares of Roku in a research report on Friday, May 2nd. JPMorgan Chase & Co. dropped their price objective on Roku from $115.00 to $75.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Needham & Company LLC reiterated a "buy" rating and issued a $88.50 target price on shares of Roku in a research note on Friday, May 2nd. Evercore ISI dropped their price target on shares of Roku from $105.00 to $80.00 and set an "in-line" rating on the stock in a research note on Friday, May 2nd. Finally, Citigroup cut their price target on shares of Roku from $81.00 to $68.00 and set a "neutral" rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $87.93.

Roku Price Performance

The stock has a 50 day moving average of $67.26 and a 200 day moving average of $74.80. The firm has a market cap of $8.95 billion, a P/E ratio of -68.92 and a beta of 2.06.

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

Insider Buying and Selling

In related news, CFO Dan Jedda sold 1,000 shares of the company'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 $75,000.00. Following the completion of the transaction, the chief financial officer now owns 68,843 shares in the company, valued at approximately $5,163,225. This represents a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $87.93, for a total value of $2,198,250.00. Following the transaction, the chief executive officer now owns 26,538 shares of the company's stock, valued at approximately $2,333,486.34. The trade was a 48.51 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,111 shares of company stock worth $6,575,362. 13.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Roku

Several institutional investors have recently added to or reduced their stakes in ROKU. Geneos Wealth Management Inc. increased its position in Roku by 369.9% in the fourth 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 last quarter. Garde Capital Inc. purchased a new stake in shares of Roku during the 1st quarter valued at about $25,000. Vision Financial Markets LLC bought a new position in shares of Roku in the 4th quarter valued at about $30,000. Golden State Wealth Management LLC grew its position in 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 acquiring an additional 247 shares in the last quarter. Finally, Princeton Global Asset Management LLC bought a new stake in Roku during the first quarter worth approximately $35,000. Hedge funds and other institutional investors own 86.30% of the company's stock.

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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