Rosenblatt Securities Has Lowered Expectations for Roku (NASDAQ:ROKU) Stock Price

Roku (NASDAQ:ROKU) had its price target lowered by Rosenblatt Securities from $100.00 to $75.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research firms also recently weighed in on ROKU. Wedbush decreased their price target on Roku from $125.00 to $100.00 and set an “outperform” rating for the company in a research note on Monday, April 28th. Jefferies Financial Group upgraded shares of Roku from an “underperform” rating to a “hold” rating and raised their target price for the stock from $55.00 to $100.00 in a research note on Thursday, February 20th. Benchmark restated a “buy” rating and issued a $130.00 price target on shares of Roku in a research note on Monday, April 21st. Compass Point initiated coverage on Roku in a report on Sunday, March 23rd. They set a “buy” rating for the company. Finally, Moffett Nathanson upgraded Roku from a “sell” rating to a “neutral” rating and set a $70.00 price target on the stock in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.46.

Roku Stock Down 8.5 %

Shares of ROKU stock opened at $61.55 on Friday. Roku has a 12 month low of $48.33 and a 12 month high of $104.96. The stock has a 50-day moving average price of $68.66 and a 200 day moving average price of $75.15. The firm has a market cap of $8.98 billion, a price-to-earnings ratio of -69.16 and a beta of 2.06.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the company earned ($0.35) earnings per share. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. Sell-side analysts predict that Roku will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Roku news, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $75,000.00. Following the completion of the sale, the chief financial officer now owns 68,843 shares in the company, valued at $5,163,225. This represents a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $87.93, for a total value of $2,198,250.00. Following the completion of the transaction, the chief executive officer now directly owns 26,538 shares in the company, valued at approximately $2,333,486.34. This 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 owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. FMR LLC lifted its position in shares of Roku by 31.7% during the fourth quarter. FMR LLC now owns 19,183,942 shares of the company’s stock worth $1,426,134,000 after purchasing an additional 4,613,570 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Roku by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 12,249,091 shares of the company’s stock valued at $910,597,000 after acquiring an additional 185,676 shares in the last quarter. Marshall Wace LLP lifted its stake in Roku by 663.9% in the fourth quarter. Marshall Wace LLP now owns 2,335,813 shares of the company’s stock worth $173,644,000 after acquiring an additional 2,030,036 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in Roku by 10.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,269,751 shares of the company’s stock worth $168,734,000 after acquiring an additional 215,841 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Roku by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company’s stock valued at $159,353,000 after purchasing an additional 56,820 shares during the period. Institutional investors 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.