Roku's (ROKU) "Outperform" Rating Reiterated at Wedbush

Roku (NASDAQ:ROKU - Get Free Report)'s stock had its "outperform" rating reiterated by Wedbush in a research report issued to clients and investors on Monday,RTT News reports. They currently have a $100.00 price target on the stock. Wedbush's price target would indicate a potential upside of 24.48% from the stock's current price.

Several other brokerages have also commented on ROKU. Needham & Company LLC reaffirmed a "buy" rating and issued a $88.50 price objective on shares of Roku in a research report on Monday, May 12th. Moffett Nathanson upgraded Roku from a "sell" rating to a "neutral" rating and set a $70.00 price target on the stock in a research note on Tuesday, March 4th. JMP Securities restated a "market outperform" rating and issued a $95.00 price objective on shares of Roku in a research note on Monday, June 2nd. Pivotal Research dropped their price objective on shares of Roku from $125.00 to $100.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, Bank of America started coverage on Roku in a research report on Thursday, March 27th. They set a "buy" rating and a $100.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Roku presently has a consensus rating of "Moderate Buy" and an average price target of $88.37.

Roku Price Performance

Shares of NASDAQ:ROKU traded up $5.93 during trading hours on Monday, hitting $80.34. The company's stock had a trading volume of 7,005,498 shares, compared to its average volume of 3,839,408. The firm's fifty day moving average price is $67.45 and its 200 day moving average price is $74.88. Roku has a 52 week low of $48.33 and a 52 week high of $104.96. The company has a market capitalization of $11.72 billion, a price-to-earnings ratio of -90.32 and a beta of 2.09.

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

Insider Buying and Selling

In other news, CAO Matthew C. Banks sold 629 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $72.98, for a total transaction of $45,904.42. Following the completion of the transaction, the chief accounting officer now directly owns 8,555 shares in the company, valued at approximately $624,343.90. This represents a 6.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Anthony J. Wood sold 4,600 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $345,000.00. Following the transaction, the chief executive officer now directly owns 6,243 shares of the company's stock, valued at approximately $468,225. This trade represents a 42.42% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 64,737 shares of company stock worth $4,987,114. Company insiders own 13.98% of the company's stock.

Hedge Funds Weigh In On Roku

Several hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Roku by 53.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,393 shares of the company's stock valued at $253,000 after purchasing an additional 1,186 shares in the last quarter. Van ECK Associates Corp acquired a new position in shares of Roku in the fourth quarter worth $675,000. Rhumbline Advisers increased its position in shares of Roku by 2.8% during the fourth quarter. Rhumbline Advisers now owns 141,348 shares of the company's stock worth $10,508,000 after acquiring an additional 3,795 shares during the period. Allworth Financial LP raised its stake in shares of Roku by 52.8% in the fourth quarter. Allworth Financial LP now owns 634 shares of the company's stock valued at $50,000 after acquiring an additional 219 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Roku by 1,107.2% in the 4th quarter. Principal Financial Group Inc. now owns 103,032 shares of the company's stock valued at $7,659,000 after buying an additional 94,497 shares during the period. Institutional investors and hedge funds 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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