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

Roku (NASDAQ:ROKU) had its price objective cut by Jefferies Financial Group from $60.00 to $55.00 in a report released on Friday morning, Benzinga reports. They currently have an underperform rating on the stock.

Several other brokerages have also recently commented on ROKU. Morgan Stanley boosted their target price on Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a report on Tuesday. Piper Sandler boosted their target price on Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday. Wedbush upped their price target on Roku from $75.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Wolfe Research raised Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price target on the stock in a report on Thursday, September 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price target on shares of Roku in a report on Thursday. Two research 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $83.95.

Roku Price Performance

NASDAQ:ROKU traded up $1.62 during midday trading on Friday, hitting $65.70. 6,782,373 shares of the stock were exchanged, compared to its average volume of 3,686,989. Roku has a one year low of $48.33 and a one year high of $108.84. The business has a 50-day moving average price of $73.22 and a two-hundred day moving average price of $63.71.

Roku (NASDAQ:ROKU) last announced its earnings results on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.29. Roku had a negative return on equity of 7.30% and a negative net margin of 4.42%. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the company earned ($2.33) earnings per share. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. Equities research analysts anticipate that Roku will post -1.41 earnings per share for the current fiscal year.

Insider Activity

In other 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 transaction of $76,250.00. Following the transaction, the chief financial officer now directly owns 53,267 shares in the company, valued at $4,061,608.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Gilbert Fuchsberg sold 1,693 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total value of $109,012.27. Following the completion of the sale, the insider now directly owns 38,602 shares in the company, 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 document filed with the SEC, which is accessible through this link. Also, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.25, for a total transaction of $76,250.00. Following the completion of the sale, the chief financial officer now owns 53,267 shares of the company’s stock, valued at $4,061,608.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,566 shares of company stock worth $5,254,000 in the last ninety days. Corporate insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Concurrent Investment Advisors LLC acquired a new position in Roku during the 3rd quarter worth $274,000. United Advisor Group LLC acquired a new position in shares of Roku during the third quarter valued at about $1,068,000. QRG Capital Management Inc. acquired a new position in shares of Roku during the third quarter valued at about $214,000. Harbor Capital Advisors Inc. raised its position 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 buying an additional 524 shares during the last quarter. Finally, US Bancorp DE raised its position in shares of Roku by 15.7% during the third quarter. US Bancorp DE now owns 3,090 shares of the company’s stock valued at $231,000 after buying an additional 420 shares during 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.