Roku (NASDAQ:ROKU) Stock Rating Reaffirmed by Rosenblatt Securities

Rosenblatt Securities reaffirmed their neutral rating on shares of Roku (NASDAQ:ROKU) in a research report sent to investors on Friday morning, Benzinga reports. Rosenblatt Securities currently has a $89.00 price objective on the stock.

Several other research firms also recently commented on ROKU. Pivotal Research decreased their price objective on Roku from $85.00 to $75.00 and set a hold rating on the stock in a research note on Friday, February 16th. Oppenheimer downgraded Roku from an outperform rating to a market perform rating in a research note on Friday, February 16th. Needham & Company LLC reissued a buy rating and set a $100.00 target price on shares of Roku in a research note on Wednesday, February 21st. Wells Fargo & Company decreased their target price on Roku from $51.00 to $45.00 and set an underweight rating on the stock in a research note on Friday, April 12th. Finally, Benchmark reissued a buy rating and set a $115.00 target price on shares of Roku in a research note on Friday, April 19th. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $83.90.

Roku Stock Down 10.3 %

NASDAQ ROKU opened at $56.35 on Friday. The stock’s 50-day moving average price is $62.80 and its 200-day moving average price is $78.48. Roku has a 52 week low of $51.62 and a 52 week high of $108.84. The company has a market capitalization of $8.09 billion, a P/E ratio of -14.12 and a beta of 1.66.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Thursday, April 25th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.64) by $0.29. Roku had a negative return on equity of 23.73% and a negative net margin of 15.64%. The firm had revenue of $881.50 million for the quarter, compared to the consensus estimate of $843.54 million. During the same quarter last year, the company earned ($1.38) earnings per share. The business’s revenue for the quarter was up 19.0% compared to the same quarter last year. Research analysts anticipate that Roku will post -2.12 EPS for the current year.

Insider Transactions at Roku

In other news, SVP Stephen H. Kay sold 4,310 shares of Roku stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $63.20, for a total value of $272,392.00. Following the completion of the transaction, the senior vice president now owns 81,459 shares in the company, valued at approximately $5,148,208.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Roku news, Director Jeffrey M. Blackburn acquired 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was bought at an average price of $63.96 per share, for a total transaction of $511,680.00. Following the acquisition, the director now directly owns 8,000 shares in the company, valued at $511,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Stephen H. Kay sold 4,310 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $63.20, for a total value of $272,392.00. Following the transaction, the senior vice president now owns 81,459 shares of the company’s stock, valued at approximately $5,148,208.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,545 shares of company stock worth $4,364,035. 13.63% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Roku

A number of large investors have recently bought and sold shares of the business. Harbour Investments Inc. boosted its holdings in Roku by 3.3% during the 3rd quarter. Harbour Investments Inc. now owns 3,499 shares of the company’s stock valued at $247,000 after acquiring an additional 113 shares during the period. Avantax Advisory Services Inc. lifted its holdings in shares of Roku by 0.9% in the 4th quarter. Avantax Advisory Services Inc. now owns 12,949 shares of the company’s stock worth $1,187,000 after buying an additional 117 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Roku by 0.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 50,971 shares of the company’s stock worth $4,415,000 after buying an additional 150 shares during the period. Spire Wealth Management lifted its holdings in shares of Roku by 35.3% in the 3rd quarter. Spire Wealth Management now owns 621 shares of the company’s stock worth $44,000 after buying an additional 162 shares during the period. Finally, Arizona State Retirement System lifted its holdings in shares of Roku by 0.5% in the 3rd quarter. Arizona State Retirement System now owns 33,655 shares of the company’s stock worth $2,376,000 after buying an additional 173 shares during the period. Hedge funds and other institutional investors own 86.30% of the company’s stock.

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.