Roku (NASDAQ:ROKU) Price Target Cut to $105.00

Roku (NASDAQ:ROKU) had its price target lowered by equities researchers at Benchmark from $115.00 to $105.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Benchmark’s price objective indicates a potential upside of 86.34% from the company’s current price.

A number of other equities research analysts have also recently weighed in on the stock. Citigroup cut their price objective on shares of Roku from $110.00 to $75.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 21st. Susquehanna lifted their price objective on shares of Roku from $100.00 to $110.00 and gave the company a “positive” rating in a research note on Friday, February 16th. Oppenheimer lowered Roku from an “outperform” rating to a “market perform” rating in a report on Friday, February 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of Roku in a report on Friday. Finally, Stephens reaffirmed an “overweight” rating and set a $105.00 target price on shares of Roku in a report on Friday, February 16th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $86.05.

Roku Price Performance

Roku stock opened at $56.35 on Friday. The company has a market cap of $8.09 billion, a PE ratio of -14.12 and a beta of 1.66. The company has a fifty day moving average price of $62.80 and a two-hundred day moving average price of $78.52. Roku has a 12 month low of $51.62 and a 12 month high of $108.84.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, April 25th. The company reported ($0.35) EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $843.54 million. During the same quarter in the previous year, the company posted ($1.38) earnings per share. The firm’s revenue was up 19.0% on a year-over-year basis. Equities research analysts anticipate that Roku will post -2.12 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction dated Monday, February 12th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Roku news, SVP Stephen H. Kay sold 4,310 shares of Roku 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 transaction, the senior vice president now owns 81,459 shares of the company’s stock, valued at approximately $5,148,208.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of Roku 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 directly owns 141,221 shares in the company, valued at approximately $13,930,039.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,545 shares of company stock valued at $4,364,035. 13.63% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Roku

Several institutional investors and hedge funds have recently bought and sold shares of the business. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in Roku by 4.1% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 28,000 shares of the company’s stock valued at $1,825,000 after acquiring an additional 1,100 shares in the last quarter. Spire Wealth Management grew its stake in Roku by 77.9% during the 1st quarter. Spire Wealth Management now owns 1,224 shares of the company’s stock valued at $80,000 after acquiring an additional 536 shares in the last quarter. Global Retirement Partners LLC grew its stake in Roku by 76.5% during the 1st quarter. Global Retirement Partners LLC now owns 1,207 shares of the company’s stock valued at $79,000 after acquiring an additional 523 shares in the last quarter. Kessler Investment Group LLC lifted its holdings in shares of Roku by 2.6% during the 1st quarter. Kessler Investment Group LLC now owns 62,233 shares of the company’s stock valued at $4,056,000 after buying an additional 1,593 shares during the last quarter. Finally, PFG Investments LLC acquired a new stake in shares of Roku during the 1st quarter valued at about $305,000. 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.