Wells Fargo & Company Raises Roku (NASDAQ:ROKU) Price Target to $52.00

Roku (NASDAQ:ROKU) had its target price hoisted by analysts at Wells Fargo & Company from $45.00 to $52.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “underweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential downside of 8.27% from the company’s current price.

A number of other equities analysts have also recently issued reports on the company. Citigroup lowered their target price on Roku from $110.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, February 21st. Pivotal Research reduced their price objective on shares of Roku from $85.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, February 16th. Stephens restated an “overweight” rating and set a $105.00 price objective on shares of Roku in a research note on Friday, February 16th. Piper Sandler reiterated a “neutral” rating and issued a $65.00 target price (down from $81.00) on shares of Roku in a research note on Friday. Finally, Benchmark cut their target price on shares of Roku from $115.00 to $105.00 and set a “buy” rating for the company in a research note on Friday. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Roku presently has a consensus rating of “Hold” and a consensus target price of $83.90.

Roku Stock Down 9.7 %

Shares of ROKU traded down $6.12 during trading hours on Friday, reaching $56.69. The stock had a trading volume of 14,480,993 shares, compared to its average volume of 5,759,566. Roku has a 52 week low of $51.62 and a 52 week high of $108.84. The firm has a 50-day moving average of $63.11 and a 200 day moving average of $78.59. The company has a market cap of $8.14 billion, a P/E ratio of -11.26 and a beta of 1.66.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, April 25th. The company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.29. The business had revenue of $881.50 million during the quarter, compared to analysts’ expectations of $843.54 million. Roku had a negative net margin of 20.36% and a negative return on equity of 29.21%. The firm’s quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.38) EPS. As a group, equities analysts expect that Roku will post -2.12 earnings per share for the current year.

Insider Activity at Roku

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $98.64, for a total transaction of $2,466,000.00. Following the completion of the sale, the chief executive officer now directly owns 141,221 shares in the company, valued at approximately $13,930,039.44. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Roku news, SVP Stephen H. Kay sold 4,310 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.20, for a total transaction of $272,392.00. Following the completion of the sale, the senior vice president now directly owns 81,459 shares in the company, valued at approximately $5,148,208.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $98.64, for a total value of $2,466,000.00. Following the sale, the chief executive officer now owns 141,221 shares of the company’s stock, valued at $13,930,039.44. The disclosure for this sale can be found here. Insiders sold 54,545 shares of company stock worth $4,364,035 over the last three months. Company insiders own 13.63% of the company’s stock.

Hedge Funds Weigh In On Roku

Institutional investors and hedge funds have recently made changes to their positions in the stock. Gotham Asset Management LLC lifted its position in Roku by 200.3% in the 3rd quarter. Gotham Asset Management LLC now owns 41,128 shares of the company’s stock valued at $2,903,000 after acquiring an additional 27,431 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Roku by 8.2% during the 4th quarter. Nordea Investment Management AB now owns 7,247 shares of the company’s stock worth $669,000 after purchasing an additional 551 shares during the last quarter. Barclays PLC increased its stake in shares of Roku by 13.0% during the 3rd quarter. Barclays PLC now owns 215,766 shares of the company’s stock worth $15,231,000 after purchasing an additional 24,765 shares during the last quarter. Deutsche Bank AG grew its stake in Roku by 27.6% in the 3rd quarter. Deutsche Bank AG now owns 154,729 shares of the company’s stock valued at $10,922,000 after buying an additional 33,500 shares in the last quarter. Finally, Vontobel Holding Ltd. grew its stake in Roku by 32.4% in the 4th quarter. Vontobel Holding Ltd. now owns 79,771 shares of the company’s stock valued at $7,312,000 after buying an additional 19,543 shares in the last quarter. 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.