Rosenblatt Securities Reiterates “Neutral” Rating for Roku (NASDAQ:ROKU)

Roku (NASDAQ:ROKU)‘s stock had its “neutral” rating reaffirmed by investment analysts at Rosenblatt Securities in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $89.00 price target on the stock. Rosenblatt Securities’ price objective suggests a potential upside of 57.94% from the company’s current price.

Several other equities analysts have also commented on the stock. Morgan Stanley reduced their target price on shares of Roku from $65.00 to $60.00 and set an “underweight” rating on the stock in a report on Friday, April 5th. Susquehanna increased their price target on shares of Roku from $100.00 to $110.00 and gave the company a “positive” rating in a research report on Friday, February 16th. Wells Fargo & Company dropped their price target on shares of Roku from $51.00 to $45.00 and set an “underweight” rating for the company in a research report on Friday, April 12th. Oppenheimer cut shares of Roku from an “outperform” rating to a “market perform” rating in a research report on Friday, February 16th. Finally, Citigroup dropped their price target on shares of Roku from $110.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, February 21st. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $86.05.

Roku Trading Down 10.3 %

Roku stock opened at $56.35 on Friday. The firm’s 50 day simple moving average is $62.80 and its 200 day simple moving average is $78.52. The firm has a market capitalization of $8.09 billion, a PE 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.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, April 25th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate 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 company had revenue of $881.50 million for the quarter, compared to analyst estimates of $843.54 million. During the same quarter last year, the firm earned ($1.38) EPS. The firm’s quarterly revenue was up 19.0% compared to the same quarter last year. Research analysts forecast that Roku will post -2.12 earnings per share for the current year.

Insider Buying and Selling

In other Roku news, 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 transaction of $2,466,000.00. Following the completion of the sale, the chief executive officer now directly owns 141,221 shares in the company, valued at approximately $13,930,039.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Roku news, insider Charles Collier sold 12,277 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $65.06, for a total transaction of $798,741.62. Following the completion of the sale, the insider now directly owns 4,292 shares in the company, valued at approximately $279,237.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 transaction of $2,466,000.00. Following the sale, the chief executive officer now owns 141,221 shares of the company’s stock, valued at $13,930,039.44. The disclosure for this sale can be found here. Insiders sold a total of 54,545 shares of company stock worth $4,364,035 in the last three months. 13.63% of the stock is owned by corporate insiders.

Institutional Trading of Roku

A number of large investors have recently made changes to their positions in ROKU. FMR LLC grew its stake in shares of 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 during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of 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 during the period. Norges Bank bought a new stake in shares of Roku in the fourth quarter worth approximately $90,386,000. Lord Abbett & CO. LLC bought a new stake in shares of Roku in the third quarter worth approximately $55,182,000. Finally, Wellington Management Group LLP grew its stake in shares of 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 during the period. 86.30% of the stock is currently owned by institutional investors.

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.