Roku (NASDAQ:ROKU) Earns “Market Perform” Rating from Citizens Jmp

Roku (NASDAQ:ROKU)‘s stock had its “market perform” rating reissued by research analysts at Citizens Jmp in a report issued on Tuesday,Benzinga reports.

Several other equities analysts have also issued reports on the stock. Loop Capital lowered shares of Roku from a “hold” rating to a “hold” rating and set a $155.00 price objective on the stock. in a report on Tuesday. Guggenheim increased their target price on Roku from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. Zacks Research downgraded Roku from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 14th. KeyCorp lowered Roku from an “overweight” rating to a “sector weight” rating in a research report on Monday. Finally, Wolfe Research downgraded Roku from an “outperform” rating to a “peer perform” rating in a research report on Tuesday. Fourteen research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $152.36.

Roku Price Performance

Shares of Roku stock opened at $140.90 on Tuesday. The stock has a market cap of $20.77 billion, a price-to-earnings ratio of 105.94 and a beta of 2.06. The firm’s 50-day moving average is $119.60 and its two-hundred day moving average is $106.65. Roku has a 1 year low of $77.64 and a 1 year high of $148.88.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.34 by $0.23. Roku had a net margin of 4.06% and a return on equity of 7.64%. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the business posted ($0.19) EPS. The company’s quarterly revenue was up 22.4% compared to the same quarter last year. On average, equities analysts expect that Roku will post 2.41 earnings per share for the current year.

Insider Activity at Roku

In related news, insider Mustafa Ozgen sold 10,194 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $144.00, for a total transaction of $1,467,936.00. Following the sale, the insider owned 19,185 shares of the company’s stock, valued at $2,762,640. This trade represents a 34.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mai Fyfield sold 832 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $119.64, for a total value of $99,540.48. Following the sale, the director directly owned 5,389 shares in the company, valued at approximately $644,739.96. The trade was a 13.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 706,194 shares of company stock valued at $80,756,499 over the last 90 days. Company insiders own 13.45% of the company’s stock.

Institutional Investors Weigh In On Roku

Several institutional investors have recently added to or reduced their stakes in ROKU. AQR Capital Management LLC boosted its holdings in Roku by 275.5% in the third quarter. AQR Capital Management LLC now owns 2,586,125 shares of the company’s stock worth $258,897,000 after acquiring an additional 1,897,407 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Roku by 229.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,038,347 shares of the company’s stock worth $192,868,000 after acquiring an additional 1,419,772 shares in the last quarter. Fred Alger Management LLC boosted its holdings in Roku by 7,087.7% in the fourth quarter. Fred Alger Management LLC now owns 1,421,440 shares of the company’s stock worth $154,212,000 after acquiring an additional 1,401,664 shares in the last quarter. Holocene Advisors LP boosted its holdings in Roku by 352.3% in the third quarter. Holocene Advisors LP now owns 1,650,448 shares of the company’s stock worth $165,259,000 after acquiring an additional 1,285,585 shares in the last quarter. Finally, Norges Bank acquired a new stake in Roku in the fourth quarter worth about $92,808,000. Institutional investors and hedge funds own 86.30% of the company’s stock.

Roku News Summary

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Fox Corp. agreed to buy Roku for about $22 billion, valuing ROKU at $160 per share and signaling a major premium to pre-deal trading levels. Fox to buy streaming pioneer Roku in a $22 billion deal
• Positive Sentiment: Wall Street has started updating its outlook on Roku following the acquisition announcement, including a higher price target from Citizens JMP, reinforcing investor interest in the stock. Roku price target raised by Citizens JMP
• Positive Sentiment: Roku saw unusually large call-option buying, suggesting traders are positioning for continued upside or more deal-related volatility. Wall Street sets Roku stock price target amid $22B acquisition
• Neutral Sentiment: The acquisition is drawing legal scrutiny, with shareholder-law firms investigating whether Roku shareholders are getting a fair price, which may add headline risk but does not yet change the deal itself. Shareholder alert: investigation of Roku related to sale to Fox
• Neutral Sentiment: Coverage around the merger highlights strategic benefits for Fox’s streaming and advertising ambitions, but investor reaction appears mixed because the deal price may leave limited immediate upside beyond the offer value. Roku Stock Rises. Why $22 Billion Fox Sale May Disappoint.

Roku Company Profile

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.