Roku (NASDAQ:ROKU) Earns “Buy” Rating from Benchmark

Benchmark reaffirmed their buy rating on shares of Roku (NASDAQ:ROKU) in a report issued on Thursday, Benzinga reports. Benchmark currently has a $105.00 price target on the stock.

Several other research firms also recently weighed in on ROKU. Wells Fargo & Company raised shares of Roku from an underweight rating to an equal weight rating and lifted their price target for the company from $50.00 to $72.00 in a research note on Thursday, September 5th. Guggenheim raised shares of Roku from a neutral rating to a buy rating and set a $75.00 price objective for the company in a research note on Friday, August 23rd. Wolfe Research raised shares of Roku from a peer perform rating to an outperform rating and set a $93.00 price objective for the company in a research note on Thursday. Macquarie reduced their price objective on shares of Roku from $88.00 to $72.00 and set an outperform rating for the company in a research note on Friday, August 2nd. Finally, Wedbush reissued an outperform rating and issued a $75.00 price objective on shares of Roku in a research note on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $78.25.

Roku Stock Performance

Shares of NASDAQ:ROKU opened at $74.69 on Thursday. Roku has a 1 year low of $48.33 and a 1 year high of $108.84. The business has a 50 day simple moving average of $61.88 and a two-hundred day simple moving average of $60.71.

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.21. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The business had revenue of $968.18 million during the quarter, compared to analyst estimates of $937.78 million. During the same quarter in the previous year, the business earned ($0.76) earnings per share. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, equities research analysts predict that Roku will post -1.45 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Charles Collier sold 15,454 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,159,050.00. Following the completion of the transaction, the insider now owns 200 shares in the company, valued at approximately $15,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Charles Collier sold 15,454 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,159,050.00. Following the completion of the transaction, the insider now owns 200 shares in the company, valued at approximately $15,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Gilbert Fuchsberg sold 1,693 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total transaction of $109,012.27. Following the completion of the sale, the insider now owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. The disclosure for this sale can be found here. Insiders sold a total of 45,945 shares of company stock worth $3,389,805 in the last 90 days. Insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Hedge funds have recently bought and sold shares of the business. Quarry LP raised its holdings in Roku by 160.2% in the 4th quarter. Quarry LP now owns 432 shares of the company’s stock valued at $40,000 after acquiring an additional 266 shares during the last quarter. Benjamin Edwards Inc. raised its holdings in Roku by 43.5% in the 1st quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock valued at $40,000 after acquiring an additional 187 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Roku by 123.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock valued at $40,000 after acquiring an additional 375 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Roku by 835.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock valued at $45,000 after buying an additional 610 shares during the period. Finally, Cedar Wealth Management LLC purchased a new stake in shares of Roku in the 2nd quarter valued at approximately $48,000. Institutional investors and hedge funds 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.