Roku (NASDAQ:ROKU) Price Target Lowered to $55.00 at Jefferies Financial Group

Roku (NASDAQ:ROKU - Get Free Report) had its price target dropped by investment analysts at Jefferies Financial Group from $60.00 to $55.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an "underperform" rating on the stock. Jefferies Financial Group's price objective would suggest a potential downside of 16.29% from the company's previous close.

Other analysts have also issued research reports about the company. Piper Sandler increased their target price on Roku from $60.00 to $75.00 and gave the company a "neutral" rating in a report on Thursday. JPMorgan Chase & Co. upped their price objective on shares of Roku from $90.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday, October 10th. Moffett Nathanson raised shares of Roku from a "sell" rating to a "neutral" rating and set a $80.00 target price for the company in a research note on Tuesday, October 1st. Guggenheim upgraded Roku from a "neutral" rating to a "buy" rating and set a $75.00 price target for the company in a report on Friday, August 23rd. Finally, Wedbush boosted their price target on Roku from $75.00 to $85.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $83.95.

Roku Stock Performance

Shares of NASDAQ:ROKU traded up $1.62 during midday trading on Friday, reaching $65.70. The company had a trading volume of 6,779,900 shares, compared to its average volume of 4,435,096. The company has a fifty day simple moving average of $73.29 and a two-hundred day simple moving average of $63.66. The firm has a market cap of $9.51 billion, a price-to-earnings ratio of -54.75 and a beta of 2.08. Roku has a 1-year low of $48.33 and a 1-year high of $108.84.

Roku (NASDAQ:ROKU - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.29. The business 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 7.30%. The firm's quarterly revenue was up 16.5% compared to the same quarter last year. During the same period last year, the firm posted ($2.33) earnings per share. Analysts expect that Roku will post -1.41 EPS for the current year.

Insider Buying and Selling

In other news, insider Gilbert Fuchsberg sold 1,693 shares of the company's stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total transaction of $109,012.27. Following the completion of the transaction, the insider now owns 38,602 shares of the company's stock, valued at approximately $2,485,582.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Roku news, CFO Dan Jedda sold 1,000 shares of the business's stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.25, for a total value of $76,250.00. Following the sale, the chief financial officer now owns 53,267 shares of the company's stock, valued at $4,061,608.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Gilbert Fuchsberg sold 1,693 shares of the firm's stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total transaction of $109,012.27. Following the transaction, the insider now directly owns 38,602 shares of the company's stock, valued at $2,485,582.78. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,566 shares of company stock valued at $5,254,000. 13.98% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ROKU. Concurrent Investment Advisors LLC acquired a new position in shares of Roku in the 3rd quarter worth approximately $274,000. United Advisor Group LLC bought a new stake in Roku in the third quarter valued at $1,068,000. QRG Capital Management Inc. acquired a new position in Roku during the third quarter worth $214,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Roku by 6.3% during the third quarter. Harbor Capital Advisors Inc. now owns 8,806 shares of the company's stock valued at $657,000 after acquiring an additional 524 shares during the period. Finally, US Bancorp DE boosted its stake in shares of Roku by 15.7% in the 3rd quarter. US Bancorp DE now owns 3,090 shares of the company's stock valued at $231,000 after purchasing an additional 420 shares in the last quarter. 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.