Roku's (ROKU) "Outperform" Rating Reiterated at Wedbush

Wedbush reiterated their outperform rating on shares of Roku (NASDAQ:ROKU - Free Report) in a report released on Friday, MarketBeat reports. They currently have a $100.00 target price on the stock, up from their prior target price of $85.00.

Several other brokerages have also recently commented on ROKU. Moffett Nathanson raised Roku from a "sell" rating to a "neutral" rating and set a $80.00 target price on the stock in a report on Tuesday, October 1st. Robert W. Baird raised shares of Roku from a "neutral" rating to an "outperform" rating and upped their price target for the company from $70.00 to $90.00 in a report on Monday, November 18th. Bank of America lifted their price objective on shares of Roku from $75.00 to $90.00 and gave the stock a "buy" rating in a research note on Monday, September 30th. JPMorgan Chase & Co. increased their target price 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. Finally, Citigroup upped their price target on Roku from $60.00 to $77.00 and gave the company a "neutral" rating in a report on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $83.33.

Roku Stock Performance

Shares of Roku stock traded up $2.09 during trading hours on Friday, reaching $84.12. The company's stock had a trading volume of 4,223,049 shares, compared to its average volume of 4,445,497. Roku has a one year low of $48.33 and a one year high of $108.84. The company's 50 day simple moving average is $74.22 and its 200 day simple moving average is $66.00. The stock has a market cap of $12.21 billion, a P/E ratio of -70.10 and a beta of 2.06.

Roku (NASDAQ:ROKU - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) 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 return on equity of 7.22% and a negative net margin of 4.42%. The business's revenue was up 16.5% on a year-over-year basis. During the same quarter last year, the business posted ($2.33) EPS. On average, sell-side analysts predict that Roku will post -1.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Anthony J. Wood sold 25,000 shares of the firm's stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $77.20, for a total value of $1,930,000.00. Following the transaction, the chief executive officer now directly owns 5,020 shares in the company, valued at approximately $387,544. This trade represents a 83.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Charles Collier sold 10,771 shares of the firm's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $71.14, for a total value of $766,248.94. Following the completion of the sale, the insider now directly owns 3,790 shares in the company, valued at approximately $269,620.60. This represents a 73.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 88,550 shares of company stock valued at $6,621,873 over the last three months. 13.98% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. grew its holdings in shares of Roku by 14.5% during the 3rd quarter. Franklin Resources Inc. now owns 82,170 shares of the company's stock worth $6,275,000 after purchasing an additional 10,416 shares in the last quarter. Sender Co & Partners Inc. acquired a new stake in Roku during the third quarter worth $827,000. M&T Bank Corp increased its holdings in Roku by 19.1% in the 3rd quarter. M&T Bank Corp now owns 7,024 shares of the company's stock valued at $525,000 after buying an additional 1,126 shares during the period. Raelipskie Partnership acquired a new position in shares of Roku in the 3rd quarter valued at $32,000. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in shares of Roku by 14.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 36,420 shares of the company's stock worth $2,719,000 after acquiring an additional 4,500 shares during the period. 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.