Roku (NASDAQ:ROKU) Price Target Lowered to $100.00 at Wedbush

Roku (NASDAQ:ROKU) had its price target cut by equities researchers at Wedbush from $125.00 to $100.00 in a report released on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s price target indicates a potential upside of 48.22% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the stock. JMP Securities reiterated a “market outperform” rating and issued a $95.00 price target on shares of Roku in a research note on Thursday. JPMorgan Chase & Co. reduced their price target on shares of Roku from $115.00 to $75.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Citizens Jmp raised Roku to a “strong-buy” rating in a research report on Tuesday, January 21st. Piper Sandler assumed coverage on Roku in a report on Thursday, April 17th. They issued a “neutral” rating and a $65.00 target price for the company. Finally, Benchmark reaffirmed a “buy” rating and set a $130.00 price objective on shares of Roku in a research report on Monday, April 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $91.50.

Roku Stock Performance

ROKU stock traded up $1.76 during trading on Monday, hitting $67.47. 625,135 shares of the company traded hands, compared to its average volume of 3,704,440. Roku has a 1 year low of $48.33 and a 1 year high of $104.96. The company has a 50-day moving average of $70.99 and a 200-day moving average of $75.52. The firm has a market capitalization of $9.85 billion, a PE ratio of -76.08 and a beta of 2.17.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.20. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.15 billion. Sell-side analysts expect that Roku will post -0.3 EPS for the current year.

Insider Buying and Selling

In other news, CAO Matthew C. Banks sold 1,906 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $80.36, for a total transaction of $153,166.16. Following the transaction, the chief accounting officer now directly owns 7,256 shares in the company, valued at approximately $583,092.16. This trade represents a 20.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $87.93, for a total value of $2,198,250.00. Following the sale, the chief executive officer now owns 26,538 shares of the company’s stock, valued at approximately $2,333,486.34. This represents a 48.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,905 shares of company stock valued at $6,560,876 over the last quarter. 13.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Roku

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. grew its position in shares of 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 buying an additional 270 shares during the last quarter. Garde Capital Inc. acquired a new stake in Roku in the first quarter valued at approximately $25,000. Vision Financial Markets LLC purchased a new position in Roku in the fourth quarter worth $30,000. Golden State Wealth Management LLC increased its position in shares of Roku by 125.4% during 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, Princeton Global Asset Management LLC purchased a new stake in shares of Roku during the 1st quarter valued at $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.