Roku (NASDAQ:ROKU) Earns “Buy” Rating from Benchmark

Benchmark reissued their buy rating on shares of Roku (NASDAQ:ROKU) in a research report released on Thursday morning, Benzinga reports. They currently have a $105.00 price objective on the stock.

Several other equities analysts have also issued reports on ROKU. JPMorgan Chase & Co. lowered their target price on shares of Roku from $90.00 to $80.00 and set an overweight rating for the company in a report on Friday, August 2nd. Needham & Company LLC reiterated a buy rating and set a $100.00 target price on shares of Roku in a report on Thursday, June 20th. Wolfe Research upgraded shares of Roku from a peer perform rating to an outperform rating and set a $93.00 target price for the company in a report on Thursday. Bank of America decreased their price objective on shares of Roku from $85.00 to $75.00 and set a buy rating for the company in a report on Friday, August 2nd. Finally, Rosenblatt Securities decreased their price objective on shares of Roku from $89.00 to $61.00 and set a neutral rating for the company in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $78.25.

Roku Stock Up 0.8 %

Roku stock opened at $74.69 on Thursday. The stock’s 50 day simple moving average is $61.88 and its two-hundred day simple moving average is $60.71. Roku has a fifty-two week low of $48.33 and a fifty-two week high of $108.84.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.21. The business had revenue of $968.18 million for the quarter, compared to analysts’ expectations of $937.78 million. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The business’s revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.76) EPS. Sell-side analysts forecast that Roku will post -1.45 earnings per share for the current year.

Insider Buying and Selling at Roku

In other Roku news, 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 sale, the insider now directly owns 38,602 shares of the company’s stock, valued at $2,485,582.78. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Charles Collier sold 15,454 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,159,050.00. Following the completion of the transaction, the insider now owns 200 shares in the company, valued at $15,000. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Gilbert Fuchsberg sold 1,693 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total value of $109,012.27. Following the transaction, the insider now owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. The disclosure for this sale can be found here. Insiders have sold a total of 45,945 shares of company stock valued at $3,389,805 over the last ninety days. 13.98% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Granite Bay Wealth Management LLC purchased a new position in shares of Roku during the second quarter valued at about $1,142,000. Quarry LP grew its position in Roku by 127.9% in the second quarter. Quarry LP now owns 1,682 shares of the company’s stock worth $101,000 after acquiring an additional 944 shares in the last quarter. Algert Global LLC grew its position in Roku by 144.4% in the second quarter. Algert Global LLC now owns 55,177 shares of the company’s stock worth $3,307,000 after acquiring an additional 32,603 shares in the last quarter. Empirical Capital Management LLC grew its position in Roku by 10.0% in the second quarter. Empirical Capital Management LLC now owns 177,000 shares of the company’s stock worth $10,608,000 after acquiring an additional 16,031 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Roku in the second quarter worth about $3,437,000. 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.