Wells Fargo & Company Boosts Roku (NASDAQ:ROKU) Price Target to $52.00

Roku (NASDAQ:ROKU) had its target price upped by Wells Fargo & Company from $45.00 to $52.00 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has an underweight rating on the stock.

ROKU has been the subject of a number of other research reports. Morgan Stanley decreased their target price on Roku from $65.00 to $60.00 and set an underweight rating for the company in a research report on Friday, April 5th. Susquehanna raised their price target on Roku from $100.00 to $110.00 and gave the stock a positive rating in a research note on Friday, February 16th. Needham & Company LLC reiterated a buy rating and set a $100.00 price objective on shares of Roku in a research report on Friday. Citigroup dropped their target price on Roku from $110.00 to $75.00 and set a neutral rating on the stock in a research report on Wednesday, February 21st. Finally, Stephens reaffirmed an overweight rating and set a $105.00 price target on shares of Roku in a research report on Friday, February 16th. Five equities 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. Based on data from MarketBeat.com, Roku has an average rating of Hold and a consensus target price of $83.90.

Roku Price Performance

Shares of Roku stock opened at $56.35 on Friday. The stock has a market cap of $8.09 billion, a price-to-earnings ratio of -14.12 and a beta of 1.66. Roku has a 1 year low of $51.62 and a 1 year high of $108.84. The firm’s 50-day moving average is $62.80 and its 200 day moving average is $78.48.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, April 25th. The company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.29. Roku had a negative net margin of 15.64% and a negative return on equity of 23.73%. The firm had revenue of $881.50 million for the quarter, compared to analysts’ expectations of $843.54 million. During the same quarter in the prior year, the company posted ($1.38) earnings per share. The business’s revenue for the quarter was up 19.0% on a year-over-year basis. On average, equities analysts expect that Roku will post -2.12 EPS for the current fiscal year.

Insider Buying and Selling at Roku

In other Roku news, SVP Stephen H. Kay sold 4,310 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.20, for a total transaction of $272,392.00. Following the sale, the senior vice president now directly owns 81,459 shares of the company’s stock, valued at $5,148,208.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, SVP Stephen H. Kay sold 4,310 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.20, for a total transaction of $272,392.00. Following the completion of the transaction, the senior vice president now owns 81,459 shares in the company, valued at $5,148,208.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $98.64, for a total value of $2,466,000.00. Following the transaction, the chief executive officer now owns 141,221 shares of the company’s stock, valued at approximately $13,930,039.44. The disclosure for this sale can be found here. Insiders have sold a total of 54,545 shares of company stock valued at $4,364,035 over the last ninety days. 13.63% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ROKU. FMR LLC grew its position in Roku by 85.9% in the third quarter. FMR LLC now owns 9,441,349 shares of the company’s stock worth $666,465,000 after acquiring an additional 4,363,754 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in Roku by 24.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock worth $478,939,000 after acquiring an additional 1,457,925 shares in the last quarter. Norges Bank purchased a new position in Roku in the fourth quarter worth about $90,386,000. Lord Abbett & CO. LLC purchased a new position in Roku in the third quarter worth about $55,182,000. Finally, Wellington Management Group LLP grew its position in Roku by 34.6% in the third quarter. Wellington Management Group LLP now owns 2,543,081 shares of the company’s stock worth $179,516,000 after acquiring an additional 653,940 shares in the last quarter. 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.