Roku (NASDAQ:ROKU) Receives Outperform Rating from Wedbush

Roku (NASDAQ:ROKU)‘s stock had its “outperform” rating reissued by equities researchers at Wedbush in a research report issued on Wednesday,RTT News reports. They currently have a $100.00 price target on the stock. Wedbush’s target price would indicate a potential upside of 20.48% from the stock’s current price.

ROKU has been the topic of several other research reports. Bank of America raised their price objective on Roku from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Benchmark reissued a “buy” rating and issued a $105.00 target price on shares of Roku in a research report on Thursday, September 12th. Piper Sandler upped their price target on shares of Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. UBS Group started coverage on shares of Roku in a research note on Friday, November 22nd. They set a “neutral” rating and a $73.00 price target on the stock. Finally, Wells Fargo & Company boosted their price objective on shares of Roku from $72.00 to $74.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Roku currently has a consensus rating of “Moderate Buy” and an average target price of $83.81.

Roku Stock Up 6.4 %

Shares of NASDAQ ROKU traded up $5.01 during midday trading on Wednesday, hitting $83.00. The company had a trading volume of 5,495,623 shares, compared to its average volume of 3,238,221. The firm has a market capitalization of $12.05 billion, a price-to-earnings ratio of -69.17 and a beta of 2.05. Roku has a twelve month low of $48.33 and a twelve month high of $99.80. The business has a 50-day simple moving average of $75.50 and a two-hundred day simple moving average of $69.71.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.29. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. Roku’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period last year, the business posted ($2.33) EPS. On average, equities analysts forecast that Roku will post -1.1 EPS for the current year.

Insider Activity at Roku

In related news, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $82.73, for a total value of $82,730.00. Following the completion of the transaction, the chief financial officer now directly owns 64,555 shares in the company, valued at approximately $5,340,635.15. This represents a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Charles Collier sold 10,771 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $71.14, for a total transaction of $766,248.94. Following the completion of the transaction, the insider now owns 3,790 shares of the company’s stock, valued at approximately $269,620.60. This represents a 73.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 73,095 shares of company stock worth $5,661,038 in the last ninety days. 13.98% of the stock is currently owned by insiders.

Institutional Trading of Roku

Hedge funds have recently modified their holdings of the company. Holocene Advisors LP acquired a new position in Roku during the 3rd quarter worth about $129,015,000. Kessler Investment Group LLC lifted its position in shares of Roku by 21.8% during the third quarter. Kessler Investment Group LLC now owns 75,968 shares of the company’s stock worth $5,672,000 after purchasing an additional 13,590 shares in the last quarter. National Bank of Canada FI grew its stake in shares of Roku by 11,626.3% during the third quarter. National Bank of Canada FI now owns 150,800 shares of the company’s stock valued at $11,259,000 after purchasing an additional 149,514 shares during the last quarter. EULAV Asset Management increased its holdings in shares of Roku by 59.1% in the third quarter. EULAV Asset Management now owns 183,000 shares of the company’s stock valued at $13,663,000 after purchasing an additional 68,000 shares in the last quarter. Finally, Granite Bay Wealth Management LLC bought a new position in Roku in the 2nd quarter worth approximately $1,142,000. 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.