Benchmark Reaffirms “Buy” Rating for Roku (NASDAQ:ROKU)

Roku (NASDAQ:ROKU)‘s stock had its “buy” rating restated by research analysts at Benchmark in a report released on Monday,Benzinga reports. They presently have a $130.00 price target on the stock. Benchmark’s price objective would indicate a potential upside of 124.40% from the company’s previous close.

A number of other research analysts also recently issued reports on the stock. Citigroup upgraded shares of Roku from a “neutral” rating to an “outperform” rating in a research report on Sunday, March 23rd. FBN Securities assumed coverage on shares of Roku in a research note on Friday, March 28th. They set an “outperform” rating and a $93.00 price objective on the stock. Rosenblatt Securities reissued a “neutral” rating and set a $86.00 target price on shares of Roku in a research note on Thursday, February 13th. Piper Sandler began coverage on shares of Roku in a research note on Thursday. They set a “neutral” rating and a $65.00 price objective on the stock. Finally, Moffett Nathanson raised Roku from a “sell” rating to a “neutral” rating and set a $70.00 price target for the company in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.11.

Roku Price Performance

ROKU traded down $0.53 during trading on Monday, hitting $57.93. The company’s stock had a trading volume of 569,717 shares, compared to its average volume of 3,790,076. The stock has a market cap of $8.45 billion, a PE ratio of -65.24 and a beta of 2.17. Roku has a twelve month low of $48.33 and a twelve month high of $104.96. The firm’s 50 day moving average price is $74.07 and its 200-day moving average price is $76.04.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.20. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Equities analysts anticipate that Roku will post -0.3 earnings per share for the current year.

Insider Activity

In other Roku news, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $75,000.00. Following the completion of the sale, the chief financial officer now directly owns 68,843 shares in the company, valued at $5,163,225. This represents a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $100.40, for a total transaction of $2,510,000.00. Following the completion of the sale, the chief executive officer now owns 26,538 shares in the company, valued at approximately $2,664,415.20. The trade was a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 71,905 shares of company stock worth $6,560,876. 13.98% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Roku

Hedge funds have recently modified their holdings of the business. Geneos Wealth Management Inc. lifted its holdings in Roku by 369.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock worth $25,000 after buying an additional 270 shares during the period. Vision Financial Markets LLC acquired a new stake in Roku during the 4th quarter valued at approximately $30,000. Game Plan Financial Advisors LLC acquired a new position in shares of Roku in the 4th quarter worth approximately $37,000. Princeton Global Asset Management LLC bought a new stake in shares of Roku in the 1st quarter valued at $35,000. Finally, Harvest Fund Management Co. Ltd increased its position in shares of Roku by 4,091.7% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company’s stock worth $37,000 after buying an additional 491 shares during the period. Institutional investors and hedge funds 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.