Roku (NASDAQ:ROKU) Earns Outperform Rating from Wedbush

Wedbush restated their outperform rating on shares of Roku (NASDAQ:ROKU) in a research note published on Thursday morning, Marketbeat.com reports. The brokerage currently has a $75.00 price objective on the stock.

A number of other brokerages have also weighed in on ROKU. Rosenblatt Securities reaffirmed a neutral rating and issued a $89.00 price objective on shares of Roku in a report on Friday, April 26th. Seaport Res Ptn raised shares of Roku from a neutral rating to a buy rating in a research note on Monday, April 29th. Morgan Stanley cut their target price on shares of Roku from $65.00 to $60.00 and set an underweight rating for the company in a research note on Friday, April 5th. Needham & Company LLC reissued a buy rating and set a $100.00 price target on shares of Roku in a research note on Thursday, June 20th. Finally, Citigroup decreased their target price on shares of Roku from $75.00 to $70.00 and set a neutral rating on the stock in a research report on Tuesday, April 30th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and an average target price of $82.50.

Roku Price Performance

Shares of NASDAQ:ROKU opened at $59.93 on Thursday. The company’s fifty day moving average price is $57.94 and its 200 day moving average price is $70.57. Roku has a 12 month low of $51.51 and a 12 month high of $108.84. The firm has a market capitalization of $8.64 billion, a P/E ratio of -15.02 and a beta of 1.92.

Roku (NASDAQ:ROKU) last released its quarterly 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 23.81%. 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 prior year, the firm earned ($1.38) EPS. Roku’s revenue for the quarter was up 19.0% on a year-over-year basis. On average, sell-side analysts anticipate that Roku will post -1.94 EPS for the current year.

Insider Buying and Selling at Roku

In other Roku news, Director Mai Fyfield sold 650 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $57.88, for a total transaction of $37,622.00. Following the completion of the transaction, the director now directly owns 3,259 shares of the company’s stock, valued at approximately $188,630.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Roku news, Director Mai Fyfield sold 650 shares of Roku stock in a transaction on Monday, June 10th. The shares were sold at an average price of $57.88, for a total value of $37,622.00. Following the completion of the transaction, the director now owns 3,259 shares of the company’s stock, valued at $188,630.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Stephen H. Kay sold 3,322 shares of the stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $57.09, for a total transaction of $189,652.98. Following the sale, the senior vice president now owns 82,036 shares in the company, valued at approximately $4,683,435.24. The disclosure for this sale can be found here. Insiders sold a total of 23,898 shares of company stock worth $1,347,966 in the last 90 days. 13.98% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Roku

Large investors have recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Roku by 24.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock valued at $478,939,000 after acquiring an additional 1,457,925 shares during the period. Nikko Asset Management Americas Inc. lifted its position in shares of Roku by 25.8% in the first quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock worth $462,108,000 after buying an additional 1,455,408 shares during the last quarter. Norges Bank acquired a new stake in Roku in the 4th quarter worth approximately $90,386,000. Wellington Management Group LLP lifted 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 buying an additional 653,940 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new stake in Roku during the fourth quarter valued at about $35,856,000. Institutional investors and hedge funds 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.