Roku (NASDAQ:ROKU) Price Target Increased to $52.00 by Analysts at Wells Fargo & Company

Roku (NASDAQ:ROKU) had its target price upped by equities researchers at Wells Fargo & Company from $45.00 to $52.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “underweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential downside of 7.72% from the company’s current price.

ROKU has been the subject of a number of other research reports. Citigroup reduced their price objective on Roku from $110.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, February 21st. Rosenblatt Securities reaffirmed a “neutral” rating and set a $89.00 price objective on shares of Roku in a research report on Friday. Oppenheimer lowered Roku from an “outperform” rating to a “market perform” rating in a research report on Friday, February 16th. Benchmark reduced their price objective on Roku from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Friday. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $65.00 price objective (down previously from $81.00) on shares of Roku in a research report on Friday. Four investment 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, Roku presently has a consensus rating of “Hold” and an average target price of $86.05.

Roku Stock Down 10.3 %

ROKU opened at $56.35 on Friday. The stock has a market cap of $8.09 billion, a PE ratio of -14.12 and a beta of 1.66. The business has a 50 day moving average of $62.80 and a 200-day moving average of $78.52. Roku has a 52 week low of $51.62 and a 52 week 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 for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.29. Roku had a negative return on equity of 23.73% and a negative net margin of 15.64%. The company had revenue of $881.50 million during the quarter, compared to analyst estimates of $843.54 million. During the same quarter last year, the company earned ($1.38) EPS. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. Equities analysts anticipate that Roku will post -2.12 EPS for the current year.

Insider Buying and Selling

In related news, insider Charles Collier sold 4,182 shares of Roku stock in a transaction on Friday, March 8th. The stock was sold at an average price of $65.00, for a total value of $271,830.00. Following the completion of the sale, the insider now owns 8,474 shares of the company’s stock, valued at $550,810. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Charles Collier sold 4,182 shares of Roku stock in a transaction on Friday, March 8th. The stock was sold at an average price of $65.00, for a total transaction of $271,830.00. Following the transaction, the insider now directly owns 8,474 shares in the company, valued at $550,810. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the chief executive officer now owns 141,221 shares in the company, valued at $13,930,039.44. The disclosure for this sale can be found here. Insiders sold 54,545 shares of company stock valued at $4,364,035 over the last 90 days. Company insiders own 13.63% of the company’s stock.

Hedge Funds Weigh In On Roku

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Harbour Investments Inc. lifted its position in Roku by 3.3% during the third quarter. Harbour Investments Inc. now owns 3,499 shares of the company’s stock valued at $247,000 after purchasing an additional 113 shares in the last quarter. Avantax Advisory Services Inc. lifted its position in shares of Roku by 0.9% in the fourth quarter. Avantax Advisory Services Inc. now owns 12,949 shares of the company’s stock valued at $1,187,000 after acquiring an additional 117 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Roku by 0.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 50,971 shares of the company’s stock valued at $4,415,000 after acquiring an additional 150 shares in the last quarter. Spire Wealth Management lifted its position in shares of Roku by 35.3% in the third quarter. Spire Wealth Management now owns 621 shares of the company’s stock valued at $44,000 after acquiring an additional 162 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in shares of Roku by 0.5% in the third quarter. Arizona State Retirement System now owns 33,655 shares of the company’s stock valued at $2,376,000 after acquiring an additional 173 shares in the last quarter. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

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.