Benchmark Reiterates Buy Rating for Roku (NASDAQ:ROKU)

Benchmark restated their buy rating on shares of Roku (NASDAQ:ROKU) in a research report report published on Friday, Benzinga reports. They currently have a $115.00 price objective on the stock.

ROKU has been the subject of several other reports. Wells Fargo & Company reduced their price target on Roku from $51.00 to $45.00 and set an underweight rating for the company in a research note on Friday, April 12th. Pivotal Research cut their target price on Roku from $85.00 to $75.00 and set a hold rating for the company in a research report on Friday, February 16th. Wedbush cut their target price on Roku from $120.00 to $80.00 and set an outperform rating for the company in a research report on Friday. Citigroup cut their target price on Roku from $110.00 to $75.00 and set a neutral rating for the company in a research report on Wednesday, February 21st. Finally, Stephens reiterated an overweight rating and set a $105.00 target price on shares of Roku in a research report on Friday, February 16th. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Roku presently has a consensus rating of Hold and an average target price of $84.76.

Roku Price Performance

ROKU stock opened at $56.90 on Friday. Roku has a 1-year low of $51.62 and a 1-year high of $108.84. The business’s 50 day simple moving average is $66.47 and its 200 day simple moving average is $78.93.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, February 15th. The company reported ($0.55) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.65) by $0.10. The business had revenue of $984.40 million for the quarter, compared to analyst estimates of $967.72 million. Roku had a negative return on equity of 29.21% and a negative net margin of 20.36%. The firm’s revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.70) EPS. As a group, analysts anticipate that Roku will post -2.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 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 of the company’s stock, valued at approximately $5,148,208.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, SVP Stephen H. Kay sold 4,310 shares of the stock in a transaction dated 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 sale, the senior vice president now owns 81,459 shares of the company’s stock, valued at $5,148,208.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jeffrey M. Blackburn purchased 8,000 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was bought at an average cost of $63.96 per share, with a total value of $511,680.00. Following the purchase, the director now owns 8,000 shares of the company’s stock, valued at approximately $511,680. The disclosure for this purchase can be found here. Insiders sold a total of 54,545 shares of company stock valued at $4,364,035 in the last 90 days. Corporate insiders own 13.63% of the company’s stock.

Institutional Investors Weigh In On Roku

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Azzad Asset Management Inc. ADV increased its stake in shares of Roku by 21.4% in the first quarter. Azzad Asset Management Inc. ADV now owns 5,485 shares of the company’s stock valued at $357,000 after buying an additional 968 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Roku by 24.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock worth $478,939,000 after purchasing an additional 1,457,925 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Roku by 243.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,045 shares of the company’s stock worth $133,000 after purchasing an additional 1,449 shares during the period. SteelPeak Wealth LLC grew its stake in Roku by 77.9% during the first quarter. SteelPeak Wealth LLC now owns 9,159 shares of the company’s stock worth $597,000 after purchasing an additional 4,011 shares during the period. Finally, Counterpoint Mutual Funds LLC acquired a new stake in Roku during the first quarter worth approximately $275,000. Institutional investors and hedge funds 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.