Roku (NASDAQ:ROKU) Earns Neutral Rating from Analysts at UBS Group

UBS Group started coverage on shares of Roku (NASDAQ:ROKU) in a research note released on Friday morning, Marketbeat reports. The firm issued a neutral rating and a $73.00 price target on the stock.

A number of other research analysts have also commented on ROKU. JPMorgan Chase & Co. upped their price objective on shares of Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Piper Sandler upped their price target on Roku from $60.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Robert W. Baird raised Roku from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $70.00 to $90.00 in a report on Monday, November 18th. Wolfe Research upgraded Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 target price for the company in a research note on Thursday, September 12th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Roku in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $84.14.

Roku Stock Performance

NASDAQ ROKU opened at $69.20 on Friday. The stock has a 50-day simple moving average of $74.45 and a 200 day simple moving average of $65.09. Roku has a twelve month low of $48.33 and a twelve month high of $108.84. The stock has a market capitalization of $10.05 billion, a PE ratio of -57.67 and a beta of 2.07.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.29. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the company earned ($2.33) earnings per share. The company’s quarterly revenue was up 16.5% compared to the same quarter last year. As a group, equities research analysts forecast that Roku will post -1.1 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Charles Collier sold 15,454 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,159,050.00. Following the transaction, the insider now owns 200 shares in the company, valued at $15,000. This represents a 98.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $77.20, for a total transaction of $1,930,000.00. Following the sale, the chief executive officer now directly owns 5,020 shares in the company, valued at approximately $387,544. This represents a 83.28 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,240 shares of company stock valued at $6,729,582. 13.98% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. UniSuper Management Pty Ltd raised its position in shares of Roku by 100.0% during the first quarter. UniSuper Management Pty Ltd now owns 1,800 shares of the company’s stock worth $117,000 after acquiring an additional 900 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Roku by 127.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 49,912 shares of the company’s stock valued at $3,255,000 after purchasing an additional 27,940 shares during the period. Natixis bought a new position in shares of Roku in the 1st quarter valued at about $53,000. Axxcess Wealth Management LLC grew its position in shares of Roku by 42.9% during the 1st quarter. Axxcess Wealth Management LLC now owns 13,566 shares of the company’s stock worth $884,000 after buying an additional 4,074 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in shares of Roku by 138.1% during the first quarter. Canada Pension Plan Investment Board now owns 342,400 shares of the company’s stock worth $22,314,000 after buying an additional 198,600 shares during the last quarter. Institutional investors own 86.30% of the company’s stock.

About Roku

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.