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

Piper Sandler assumed coverage on shares of Roku (NASDAQ:ROKU - Free Report) in a research report released on Thursday, Marketbeat Ratings reports. The firm issued a neutral rating and a $65.00 price objective on the stock.

Several other equities analysts also recently commented on ROKU. JMP Securities upped their price objective on shares of Roku from $95.00 to $115.00 and gave the company a "market outperform" rating in a report on Friday, February 14th. Citigroup raised Roku from a "neutral" rating to an "outperform" rating in a report on Sunday, March 23rd. Redburn Atlantic raised Roku from a "neutral" rating to a "buy" rating and set a $100.00 target price for the company in a report on Monday, April 7th. Jefferies Financial Group upgraded shares of Roku from an "underperform" rating to a "hold" rating and upped their price target for the company from $55.00 to $100.00 in a research note on Thursday, February 20th. Finally, UBS Group cut their price objective on shares of Roku from $90.00 to $72.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $94.11.

Roku Price Performance

NASDAQ:ROKU traded down $0.10 on Thursday, hitting $58.36. 1,523,561 shares of the company's stock were exchanged, compared to its average volume of 3,793,703. The firm has a 50-day moving average price of $74.07 and a 200-day moving average price of $76.04. The company has a market cap of $8.52 billion, a P/E ratio of -65.57 and a beta of 2.17. Roku has a 52 week low of $48.33 and a 52 week high of $104.96.

Roku (NASDAQ:ROKU - Get Free Report) last posted its quarterly 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 firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.15 billion. On average, research analysts expect that Roku will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Matthew C. Banks sold 1,906 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $80.36, for a total value of $153,166.16. Following the transaction, the chief accounting officer now owns 7,256 shares in the company, valued at approximately $583,092.16. This trade represents a 20.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of the firm'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 approximately $5,163,225. This trade represents a 1.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,905 shares of company stock worth $6,560,876. Corporate insiders own 13.98% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. MML Investors Services LLC increased its stake in shares of Roku by 9.8% in the 3rd quarter. MML Investors Services LLC now owns 10,592 shares of the company's stock worth $791,000 after acquiring an additional 948 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Roku by 14.5% during the third quarter. Franklin Resources Inc. now owns 82,170 shares of the company's stock valued at $6,275,000 after purchasing an additional 10,416 shares in the last quarter. Everence Capital Management Inc. purchased a new position in shares of Roku during the fourth quarter valued at approximately $350,000. Oak Thistle LLC bought a new stake in shares of Roku in the 4th quarter worth approximately $823,000. Finally, Avanza Fonder AB purchased a new stake in shares of Roku in the 4th quarter worth approximately $3,499,000. 86.30% of the stock is owned by hedge funds and other institutional investors.

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.