Roku (NASDAQ:ROKU) Receives Buy Rating from Benchmark

Benchmark reissued their buy rating on shares of Roku (NASDAQ:ROKU) in a report published on Friday morning,Benzinga reports. The brokerage currently has a $130.00 target price on the stock.

A number of other analysts have also recently weighed in on ROKU. Wedbush lowered their price target on Roku from $125.00 to $100.00 and set an “outperform” rating on the stock in a research report on Monday, April 28th. Needham & Company LLC reiterated a “buy” rating and set a $88.50 target price on shares of Roku in a research report on Friday. Citizens Jmp upgraded shares of Roku to a “strong-buy” rating in a research report on Tuesday, January 21st. Bank of America assumed coverage on shares of Roku in a research note on Thursday, March 27th. They issued a “buy” rating and a $100.00 target price for the company. Finally, FBN Securities initiated coverage on Roku in a research report on Friday, March 28th. They set an “outperform” rating and a $93.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.46.

Roku Trading Down 8.5 %

Shares of NASDAQ ROKU opened at $61.55 on Friday. The firm has a market capitalization of $8.98 billion, a price-to-earnings ratio of -69.16 and a beta of 2.06. Roku has a one year low of $48.33 and a one year high of $104.96. The business has a fifty day simple moving average of $68.66 and a 200 day simple moving average of $75.15.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.08. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the firm earned ($0.35) EPS. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year. On average, research analysts anticipate that Roku will post -0.3 earnings per share for the current fiscal year.

Insider Transactions at Roku

In related news, CFO Dan Jedda sold 5,000 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $100.40, for a total value of $502,000.00. Following the completion of the sale, the chief financial officer now owns 58,555 shares in the company, valued at $5,878,922. This represents a 7.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $100.40, for a total value of $2,510,000.00. Following the completion of the sale, the chief executive officer now owns 26,538 shares of the company’s stock, valued at $2,664,415.20. This trade represents a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,111 shares of company stock worth $6,575,362. 13.98% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Roku

Several large investors have recently made changes to their positions in ROKU. Fortis Group Advisors LLC lifted its position in Roku by 15.0% in the 1st quarter. Fortis Group Advisors LLC now owns 9,315 shares of the company’s stock valued at $656,000 after acquiring an additional 1,217 shares in the last quarter. Cullen Frost Bankers Inc. lifted its holdings in shares of Roku by 9,422.2% in the first quarter. Cullen Frost Bankers Inc. now owns 857 shares of the company’s stock valued at $60,000 after purchasing an additional 848 shares in the last quarter. Wealthfront Advisers LLC boosted its position in shares of Roku by 9.1% during the first quarter. Wealthfront Advisers LLC now owns 5,634 shares of the company’s stock worth $397,000 after buying an additional 472 shares during the period. Dakota Wealth Management bought a new position in shares of Roku during the first quarter worth about $2,168,000. Finally, OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Roku in the 1st quarter valued at approximately $234,000. 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.