Roku (NASDAQ:ROKU) Price Target Cut to $105.00 by Analysts at Benchmark

Roku (NASDAQ:ROKU) had its price target reduced by Benchmark from $115.00 to $105.00 in a research note released on Friday morning, Benzinga reports. Benchmark currently has a buy rating on the stock.

A number of other analysts have also recently weighed in on the stock. Rosenblatt Securities reaffirmed a neutral rating and set a $89.00 target price on shares of Roku in a research note on Friday. Stephens reaffirmed an overweight rating and issued a $105.00 target price on shares of Roku in a report on Friday, February 16th. Susquehanna boosted their price target on Roku from $100.00 to $110.00 and gave the stock a positive rating in a report on Friday, February 16th. Wells Fargo & Company dropped their price objective on shares of Roku from $51.00 to $45.00 and set an underweight rating for the company in a report on Friday, April 12th. Finally, Wedbush reduced their target price on shares of Roku from $120.00 to $80.00 and set an outperform rating on the stock in a report on Friday, April 19th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $84.47.

Roku Stock Up 4.1 %

NASDAQ:ROKU opened at $58.66 on Friday. Roku has a twelve month low of $51.62 and a twelve month high of $108.84. The stock’s 50-day simple moving average is $62.53 and its 200 day simple moving average is $78.50. The firm has a market capitalization of $8.42 billion, a PE ratio of -14.70 and a beta of 1.66.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, April 25th. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.29. The company had revenue of $881.50 million for the quarter, compared to the consensus estimate of $843.54 million. Roku had a negative net margin of 15.64% and a negative return on equity of 23.73%. The firm’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same period last year, the company posted ($1.38) EPS. On average, analysts anticipate that Roku will post -2.12 EPS for the current fiscal year.

Insider Transactions at Roku

In related news, insider Charles Collier sold 4,182 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $65.00, for a total transaction of $271,830.00. Following the transaction, the insider now directly owns 8,474 shares of the company’s stock, valued at $550,810. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Roku news, insider Charles Collier sold 4,182 shares of Roku stock in a transaction on Friday, March 8th. The shares were sold at an average price of $65.00, for a total value of $271,830.00. Following the completion of the sale, the insider now directly owns 8,474 shares of the company’s stock, valued at $550,810. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 transaction of $2,466,000.00. Following the transaction, the chief executive officer now directly owns 141,221 shares in the company, valued at approximately $13,930,039.44. The disclosure for this sale can be found here. Insiders sold a total of 54,545 shares of company stock valued at $4,364,035 in the last quarter. 13.63% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Roku

Several hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC bought a new position in shares of Roku in the 4th quarter worth $27,000. Creative Financial Designs Inc. ADV bought a new position in shares of Roku in the fourth quarter valued at $29,000. Federated Hermes Inc. bought a new position in shares of Roku in the third quarter valued at $37,000. Quarry LP grew its holdings in shares of Roku by 160.2% during the fourth quarter. Quarry LP now owns 432 shares of the company’s stock valued at $40,000 after buying an additional 266 shares during the last quarter. Finally, Benjamin Edwards Inc. increased its position in shares of Roku by 43.5% during the first quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock worth $40,000 after acquiring an additional 187 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.