Roku (NASDAQ:ROKU) Coverage Initiated by Analysts at Piper Sandler

Investment analysts at Piper Sandler started coverage on shares of Roku (NASDAQ:ROKU) in a research note issued to investors on Thursday. The firm set a “neutral” rating and a $65.00 price target on the stock. Piper Sandler’s target price points to a potential upside of 12.00% from the stock’s previous close.

Other research analysts have also issued reports about the company. Citigroup upgraded Roku from a “neutral” rating to an “outperform” rating in a report on Sunday, March 23rd. Moffett Nathanson upgraded shares of Roku from a “sell” rating to a “neutral” rating and set a $70.00 target price on the stock in a report on Tuesday, March 4th. Benchmark increased their price objective on shares of Roku from $100.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Compass Point began coverage on Roku in a report on Sunday, March 23rd. They set a “buy” rating for the company. Finally, Wedbush reiterated an “outperform” rating and set a $100.00 price objective on shares of Roku in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.11.

Roku Trading Down 0.6 %

Roku stock traded down $0.36 during mid-day trading on Thursday, hitting $58.04. The stock had a trading volume of 167,599 shares, compared to its average volume of 3,786,129. The stock has a market capitalization of $8.47 billion, a PE ratio of -65.39 and a beta of 2.17. Roku has a 12 month low of $48.33 and a 12 month high of $104.96. The stock has a 50-day simple moving average of $75.08 and a two-hundred day simple moving average of $76.24.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.15 billion. Sell-side analysts expect that Roku will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Roku news, CEO Anthony J. Wood sold 4,600 shares of the company’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $345,000.00. Following the completion of the sale, the chief executive officer now directly owns 6,243 shares of the company’s stock, valued at approximately $468,225. This represents a 42.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Dan Jedda sold 1,000 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $75,000.00. Following the transaction, the chief financial officer now owns 68,843 shares of the company’s stock, valued at approximately $5,163,225. The trade was a 1.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,905 shares of company stock valued at $6,560,876 over the last 90 days. Company insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Several large investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of Roku by 72.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 10,747 shares of the company’s stock valued at $757,000 after purchasing an additional 4,522 shares during the period. Polianta Ltd bought a new stake in Roku during the 1st quarter worth approximately $1,007,000. Simon Quick Advisors LLC purchased a new stake in Roku in the 1st quarter worth approximately $211,000. Assenagon Asset Management S.A. purchased a new stake in shares of Roku in the first quarter worth $2,292,000. Finally, SG Americas Securities LLC boosted its position in shares of Roku by 2,537.7% during the 1st quarter. SG Americas Securities LLC now owns 91,845 shares of the company’s stock valued at $6,470,000 after acquiring an additional 88,363 shares during the last quarter. Hedge funds and other institutional investors 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.