Roku’s (ROKU) Outperform Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of Roku (NASDAQ:ROKU) in a research note issued to investors on Monday,RTT News reports. Wedbush currently has a $100.00 target price on the stock.

Other equities analysts have also recently issued reports about the company. Redburn Atlantic upgraded Roku from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Monday, April 7th. Bank of America began coverage on Roku in a research report on Thursday, March 27th. They issued a “buy” rating and a $100.00 target price for the company. Jefferies Financial Group upgraded Roku from an “underperform” rating to a “hold” rating and upped their target price for the company from $55.00 to $100.00 in a report on Thursday, February 20th. UBS Group lowered their price target on shares of Roku from $90.00 to $72.00 and set a “neutral” rating on the stock in a report on Tuesday, April 15th. Finally, Pivotal Research cut their price target on Roku from $125.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $89.93.

Roku Trading Up 1.0%

Roku stock opened at $81.43 on Monday. The company’s 50-day moving average price is $68.68 and its two-hundred day moving average price is $75.06. The stock has a market cap of $11.88 billion, a price-to-earnings ratio of -111.55 and a beta of 2.09. Roku has a 52 week low of $48.33 and a 52 week high of $104.96.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.08. Roku had a negative net margin of 2.49% and a negative return on equity of 4.29%. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the business earned ($0.35) earnings per share. Roku’s revenue for the quarter was up 15.8% compared to the same quarter last year. Research analysts expect that Roku will post -0.3 earnings per share for the current fiscal year.

Insider Activity at Roku

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the sale, the chief executive officer now directly owns 6,243 shares in the company, valued at $468,225. This represents a 80.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Matthew C. Banks sold 629 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $72.98, for a total value of $45,904.42. Following the completion of the transaction, the chief accounting officer now owns 8,555 shares of the company’s stock, valued at $624,343.90. This represents a 6.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 64,227 shares of company stock worth $4,994,244 over the last ninety days. Company insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ROKU. Jacobs Levy Equity Management Inc. boosted its stake in Roku by 505.3% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,296,774 shares of the company’s stock worth $96,402,000 after purchasing an additional 1,082,548 shares during the period. Geode Capital Management LLC grew its holdings in shares of Roku by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company’s stock worth $159,353,000 after buying an additional 56,820 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Roku by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 990,867 shares of the company’s stock valued at $73,661,000 after buying an additional 34,898 shares during the last quarter. Achmea Investment Management B.V. lifted its stake in Roku by 146.4% in the 4th quarter. Achmea Investment Management B.V. now owns 10,168 shares of the company’s stock valued at $756,000 after acquiring an additional 6,042 shares in the last quarter. Finally, J. Goldman & Co LP boosted its position in Roku by 973.1% during the 4th quarter. J. Goldman & Co LP now owns 354,326 shares of the company’s stock worth $26,341,000 after acquiring an additional 321,307 shares during the last quarter. 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.