Roku, Inc. (NASDAQ:ROKU) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Roku, Inc. (NASDAQ:ROKU) have been given a consensus rating of “Hold” by the twenty-seven brokerages that are presently covering the stock, Marketbeat Ratings reports. Seventeen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $155.1250.

ROKU has been the topic of a number of research reports. Citigroup upped their price objective on Roku from $120.00 to $157.00 and gave the company a “neutral” rating in a report on Friday, July 17th. Zacks Research downgraded Roku from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 14th. Piper Sandler cut shares of Roku from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $148.00 to $160.00 in a research report on Tuesday, June 16th. Needham & Company LLC boosted their target price on shares of Roku from $140.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, June 15th. Finally, Wolfe Research lowered shares of Roku from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, June 16th.

Insider Transactions at Roku

In other Roku news, Director Neil D. Hunt sold 2,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $140.65, for a total transaction of $281,300.00. Following the transaction, the director owned 9,629 shares in the company, valued at $1,354,318.85. This represents a 17.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mustafa Ozgen sold 10,194 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $144.00, for a total transaction of $1,467,936.00. Following the transaction, the insider owned 19,185 shares in the company, valued at approximately $2,762,640. The trade was a 34.70% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 224,181 shares of company stock worth $29,043,628. Company insiders own 13.45% of the company’s stock.

Hedge Funds Weigh In On Roku

Hedge funds have recently added to or reduced their stakes in the stock. Raleigh Capital Management Inc. lifted its position in shares of Roku by 6.5% during the 1st quarter. Raleigh Capital Management Inc. now owns 1,522 shares of the company’s stock valued at $144,000 after acquiring an additional 93 shares during the period. Apollon Wealth Management LLC grew its holdings in shares of Roku by 1.5% during the 4th quarter. Apollon Wealth Management LLC now owns 6,450 shares of the company’s stock worth $700,000 after purchasing an additional 96 shares in the last quarter. Quantum Portfolio Management LLC increased its position in shares of Roku by 2.6% in the first quarter. Quantum Portfolio Management LLC now owns 4,135 shares of the company’s stock worth $391,000 after purchasing an additional 105 shares during the period. HB Wealth Management LLC increased its position in shares of Roku by 3.7% in the first quarter. HB Wealth Management LLC now owns 3,447 shares of the company’s stock worth $326,000 after purchasing an additional 122 shares during the period. Finally, Quarry LP raised its stake in Roku by 21.7% in the fourth quarter. Quarry LP now owns 689 shares of the company’s stock valued at $75,000 after purchasing an additional 123 shares in the last quarter. Institutional investors own 86.30% of the company’s stock.

Roku Trading Down 0.1%

Roku stock opened at $145.01 on Tuesday. Roku has a 12 month low of $78.53 and a 12 month high of $148.88. The stock’s 50 day moving average is $136.45 and its 200-day moving average is $114.86. The company has a market capitalization of $21.38 billion, a price-to-earnings ratio of 109.03 and a beta of 2.01.

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, April 30th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.23. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.20 billion. Roku had a return on equity of 7.64% and a net margin of 4.06%.The firm’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.19) earnings per share. As a group, equities research analysts predict that Roku will post 2.41 earnings per share for the current fiscal year.

About Roku

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.