Roku (NASDAQ:ROKU) Stock Rating Reaffirmed by Piper Sandler

Piper Sandler reissued their neutral rating on shares of Roku (NASDAQ:ROKU) in a research report released on Friday morning, Benzinga reports. The firm currently has a $65.00 price objective on the stock, down from their prior price objective of $81.00.

Several other research analysts have also weighed in on ROKU. Rosenblatt Securities reiterated a neutral rating and set a $89.00 price objective on shares of Roku in a report on Friday. Morgan Stanley cut their price target on shares of Roku from $65.00 to $60.00 and set an underweight rating on the stock in a research note on Friday, April 5th. Stephens restated an overweight rating and set a $105.00 price objective on shares of Roku in a report on Friday, February 16th. Citigroup reduced their target price on Roku from $110.00 to $75.00 and set a neutral rating on the stock in a report on Wednesday, February 21st. Finally, Wedbush dropped their price target on Roku from $120.00 to $80.00 and set an outperform rating for the company in a research note on Friday, April 19th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and an average target price of $84.47.

Roku Stock Performance

Shares of NASDAQ ROKU opened at $58.66 on Friday. The firm’s 50 day moving average price is $62.53 and its 200 day moving average price is $78.50. The firm has a market cap of $8.42 billion, a P/E ratio of -14.70 and a beta of 1.66. Roku has a 1 year low of $51.62 and a 1 year high of $108.84.

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

Insider Buying and Selling

In other Roku news, SVP Stephen H. Kay sold 4,310 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were 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 directly owns 81,459 shares of the company’s stock, valued at approximately $5,148,208.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction on 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 completion of the sale, the chief executive officer now owns 141,221 shares in the company, valued at $13,930,039.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Stephen H. Kay sold 4,310 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $63.20, for a total transaction of $272,392.00. Following the transaction, the senior vice president now owns 81,459 shares in the company, valued at $5,148,208.80. The disclosure for this sale can be found here. Insiders have sold 54,545 shares of company stock valued at $4,364,035 in the last quarter. Company insiders own 13.63% of the company’s stock.

Institutional Investors Weigh In On Roku

Several hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC bought a new position in shares of Roku during the fourth quarter worth about $27,000. Creative Financial Designs Inc. ADV acquired a new stake in Roku during the fourth quarter valued at approximately $29,000. Federated Hermes Inc. bought a new position in Roku during the 3rd quarter worth approximately $37,000. Quarry LP grew its position in shares of Roku by 160.2% in the 4th quarter. Quarry LP now owns 432 shares of the company’s stock worth $40,000 after acquiring an additional 266 shares in the last quarter. Finally, Benjamin Edwards Inc. increased its holdings in shares of Roku by 43.5% in the 1st quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock valued at $40,000 after acquiring an additional 187 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.