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

Roku (NASDAQ:ROKU)‘s stock had its “buy” rating reiterated by investment analysts at Benchmark in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $115.00 price target on the stock. Benchmark’s price target would indicate a potential upside of 99.17% from the stock’s current price.

Other research analysts have also issued research reports about the company. Citigroup cut their price target on Roku from $110.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday, February 21st. Susquehanna increased 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. Morgan Stanley lowered their price objective on Roku from $65.00 to $60.00 and set an “underweight” rating for the company in a research note on Friday, April 5th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of Roku in a research note on Wednesday, February 21st. Finally, Wells Fargo & Company lowered their price objective on Roku from $51.00 to $45.00 and set an “underweight” rating for the company in a research note on Friday, April 12th. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $84.76.

Roku Price Performance

Shares of Roku stock traded down $0.95 on Friday, hitting $57.74. 1,014,406 shares of the company’s stock traded hands, compared to its average volume of 5,639,339. The company has a fifty day moving average of $67.19 and a two-hundred day moving average of $79.07. The company has a market capitalization of $8.29 billion, a price-to-earnings ratio of -11.52 and a beta of 1.66. Roku has a one year low of $51.62 and a one year high of $108.84.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Thursday, February 15th. The company reported ($0.55) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.65) by $0.10. The business had revenue of $984.40 million for the quarter, compared to analyst estimates of $967.72 million. Roku had a negative return on equity of 29.21% and a negative net margin of 20.36%. The company’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.70) earnings per share. Equities research analysts anticipate that Roku will post -2.12 earnings per share for the current year.

Insider Transactions at Roku

In other Roku news, Director Jeffrey M. Blackburn acquired 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was bought at an average price of $63.96 per share, with a total value of $511,680.00. Following the completion of the purchase, the director now owns 8,000 shares of the company’s stock, valued at $511,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Charles Collier sold 4,182 shares of Roku stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $65.00, for a total value of $271,830.00. Following the transaction, the insider now owns 8,474 shares in the company, valued at $550,810. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jeffrey M. Blackburn acquired 8,000 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was bought at an average price of $63.96 per share, for a total transaction of $511,680.00. Following the acquisition, the director now owns 8,000 shares of the company’s stock, valued at approximately $511,680. The disclosure for this purchase can be found here. Insiders sold 54,545 shares of company stock valued at $4,364,035 over the last three months. Company insiders own 13.63% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ROKU. Azzad Asset Management Inc. ADV increased its holdings in Roku by 21.4% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 5,485 shares of the company’s stock valued at $357,000 after purchasing an additional 968 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Roku by 24.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock valued at $478,939,000 after purchasing an additional 1,457,925 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Roku by 243.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,045 shares of the company’s stock valued at $133,000 after purchasing an additional 1,449 shares during the period. SteelPeak Wealth LLC increased its holdings in Roku by 77.9% during the 1st quarter. SteelPeak Wealth LLC now owns 9,159 shares of the company’s stock valued at $597,000 after purchasing an additional 4,011 shares during the period. Finally, Counterpoint Mutual Funds LLC purchased a new position in Roku during the 1st quarter valued at about $275,000. Hedge funds and other 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.