Roku (NASDAQ:ROKU) Price Target Lowered to $80.00 at Evercore ISI
Evercore ISI has lowered its price target for Roku (NASDAQ: ROKU) from $105.00 to $80.00, maintaining an "in-line" rating. This suggests a potential upside of 31.58% from the current price. Other analysts have also adjusted their targets, with Wedbush setting it at $100.00 and Piper Sandler at $65.00. Roku's stock recently traded down 9.6% to $60.80, with a consensus rating of "Moderate Buy" and a price target of $88.37. The company reported a revenue increase of 15.8% year-over-year, with earnings per share of ($0.19).
Roku (NASDAQ:ROKU - Get Free Report) had its price objective decreased by investment analysts at Evercore ISI from $105.00 to $80.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an "in-line" rating on the stock. Evercore ISI's price target would suggest a potential upside of 31.58% from the stock's current price.
- Could Roku and The Trade Desk Create the Ultimate Adtech Giant?
Other equities research analysts have also issued research reports about the company. Wedbush cut 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. Redburn Atlantic upgraded Roku from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a report on Monday, April 7th. Piper Sandler started coverage on shares of Roku in a research note on Thursday, April 17th. They issued a "neutral" rating and a $65.00 price objective for the company. Moffett Nathanson upgraded shares of Roku from a "sell" rating to a "neutral" rating and set a $70.00 price target for the company in a report on Tuesday, March 4th. Finally, Pivotal Research dropped their price objective on shares of Roku from $125.00 to $100.00 and set a "buy" rating on the stock in a report on Friday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Roku currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.37.
Read Our Latest Report on ROKU
Roku Trading Down 9.6 %
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NASDAQ:ROKU traded down $6.47 on Friday, reaching $60.80. 5,189,610 shares of the stock traded hands, compared to its average volume of 3,716,664. Roku has a 1-year low of $48.33 and a 1-year high of $104.96. The company's 50 day moving average is $69.14 and its 200-day moving average is $75.29. The firm has a market capitalization of $8.87 billion, a price-to-earnings ratio of -68.26 and a beta of 2.17.
Roku (NASDAQ:ROKU - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.08. The company had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. Roku's revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.35) earnings per share. On average, equities research analysts forecast that Roku will post -0.3 EPS for the current fiscal year.
Insider Transactions at Roku
- The Trade Desk: When Sell the News Turns Into Buy the Dip
In other Roku news, CAO Matthew C. Banks sold 1,906 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $80.36, for a total value of $153,166.16. Following the transaction, the chief accounting officer now directly owns 7,256 shares of the company's stock, valued at approximately $583,092.16. This trade represents a 20.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Charles Collier sold 7,181 shares of the firm's stock in a transaction 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 transaction, the insider now directly owns 7,380 shares in the company, valued at approximately $577,485. This represents a 49.32 % 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 Investors Weigh In On Roku
Institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its stake in Roku by 31.7% during the fourth quarter. FMR LLC now owns 19,183,942 shares of the company's stock worth $1,426,134,000 after acquiring an additional 4,613,570 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Roku by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 12,249,091 shares of the company's stock valued at $910,597,000 after purchasing an additional 185,676 shares in the last quarter. Marshall Wace LLP boosted its position in Roku by 663.9% during the 4th quarter. Marshall Wace LLP now owns 2,335,813 shares of the company's stock valued at $173,644,000 after acquiring an additional 2,030,036 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in Roku by 10.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,269,751 shares of the company's stock valued at $168,734,000 after purchasing an additional 215,841 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Roku by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company's stock valued at $159,353,000 after acquiring an additional 56,820 shares during the last quarter. 86.30% of the stock is owned by hedge funds and other institutional investors.
Roku Company Profile
(Get Free Report)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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