Wells Fargo & Company Has Lowered Expectations for Roku (NASDAQ:ROKU) Stock Price

Roku (NASDAQ:ROKU - Get Free Report) had its price target reduced by equities researchers at Wells Fargo & Company from $129.00 to $93.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's target price would indicate a potential upside of 37.48% from the company's current price.

A number of other equities research analysts have also recently issued reports on the company. FBN Securities started coverage on Roku in a research note on Friday, March 28th. They issued an "outperform" rating and a $93.00 price objective on the stock. Redburn Atlantic raised shares of Roku from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a research report on Monday, April 7th. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $86.00 price objective on shares of Roku in a report on Thursday, February 13th. Pivotal Research upgraded shares of Roku from a "hold" rating to a "buy" rating and lifted their price objective for the company from $65.00 to $125.00 in a research note on Friday, February 14th. Finally, Wedbush dropped their target price on Roku from $125.00 to $100.00 and set an "outperform" rating on the stock in a research report on Monday. One investment analyst has rated the stock with a sell rating, six have issued 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.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $89.93.

Roku Stock Performance

ROKU traded up $1.94 during midday trading on Monday, reaching $67.65. The company had a trading volume of 858,999 shares, compared to its average volume of 3,705,188. Roku has a 12-month low of $48.33 and a 12-month high of $104.96. The business has a 50-day moving average price of $70.99 and a two-hundred day moving average price of $75.52. The stock has a market cap of $9.87 billion, a PE ratio of -76.09 and a beta of 2.17.

Roku (NASDAQ:ROKU - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.20. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.15 billion. On average, research analysts anticipate that Roku will post -0.3 earnings per share for the current year.

Insider Transactions at Roku

In related news, insider Charles Collier sold 7,181 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $78.25, for a total value of $561,913.25. Following the completion of the sale, the insider now owns 7,380 shares in the company, valued at $577,485. The trade was a 49.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Matthew C. Banks sold 1,906 shares of Roku stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $80.36, for a total transaction of $153,166.16. Following the transaction, the chief accounting officer now directly owns 7,256 shares in the company, valued at $583,092.16. This trade represents a 20.80 % 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 corporate insiders.

Institutional Trading of Roku

Several institutional investors have recently added to or reduced their stakes in ROKU. Summit Trail Advisors LLC grew its position in Roku by 65.0% during the 1st quarter. Summit Trail Advisors LLC now owns 12,388 shares of the company's stock worth $873,000 after acquiring an additional 4,879 shares during the last quarter. Smith Group Asset Management LLC raised its holdings in Roku by 2.8% during the 1st quarter. Smith Group Asset Management LLC now owns 7,390 shares of the company's stock valued at $521,000 after buying an additional 200 shares during the last quarter. ABLE Financial Group LLC purchased a new stake in Roku during the 1st quarter valued at $1,272,000. Goodman Advisory Group LLC bought a new stake in Roku in the 1st quarter worth $467,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Roku by 4,720.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 163,545 shares of the company's stock valued at $11,546,000 after acquiring an additional 160,152 shares during the last quarter. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

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.

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