Wedbush Reaffirms “Outperform” Rating for Roku (NASDAQ:ROKU)

Roku (NASDAQ:ROKU)‘s stock had its “outperform” rating reiterated by stock analysts at Wedbush in a report released on Wednesday,RTT News reports. They currently have a $100.00 price target on the stock. Wedbush’s price objective points to a potential upside of 20.48% from the company’s current price.

Several other analysts also recently issued reports on ROKU. Citigroup lifted their price target on Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Baird R W upgraded shares of Roku from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. Piper Sandler increased their price objective on shares of Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of Roku in a research report on Tuesday. Finally, Morgan Stanley upped their target price on Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Roku currently has a consensus rating of “Moderate Buy” and an average target price of $83.81.

Roku Trading Up 6.4 %

Shares of NASDAQ ROKU traded up $5.01 during mid-day trading on Wednesday, reaching $83.00. 5,495,623 shares of the company’s stock were exchanged, compared to its average volume of 3,238,221. Roku has a twelve month low of $48.33 and a twelve month high of $99.80. The firm has a market capitalization of $12.05 billion, a price-to-earnings ratio of -69.17 and a beta of 2.05. The business has a fifty day simple moving average of $75.50 and a 200 day simple moving average of $69.71.

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

Insiders Place Their Bets

In related news, insider Charles Collier sold 10,771 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $71.14, for a total value of $766,248.94. Following the completion of the sale, the insider now directly owns 3,790 shares in the company, valued at approximately $269,620.60. The trade was a 73.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Matthew C. Banks sold 8,693 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $71.44, for a total value of $621,027.92. Following the transaction, the chief accounting officer now owns 7,264 shares in the company, valued at approximately $518,940.16. This trade represents a 54.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 73,095 shares of company stock worth $5,661,038 in the last 90 days. Company insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

A number of large investors have recently bought and sold shares of the company. Raelipskie Partnership bought a new position in shares of Roku in the 3rd quarter valued at $32,000. EverSource Wealth Advisors LLC grew its position in Roku by 123.4% in the second 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. Future Financial Wealth Managment LLC acquired a new position in Roku during the third quarter worth about $43,000. GS Investments Inc. lifted its holdings in shares of Roku by 33.4% in the third quarter. GS Investments Inc. now owns 587 shares of the company’s stock worth $44,000 after acquiring an additional 147 shares during the last quarter. Finally, Cedar Wealth Management LLC acquired a new stake in shares of Roku in the 2nd quarter valued at approximately $48,000. 86.30% of the stock is currently owned by institutional investors and hedge funds.

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.