Roku’s (ROKU) Outperform Rating Reaffirmed at Wedbush

Wedbush reaffirmed their outperform rating on shares of Roku (NASDAQ:ROKUFree Report) in a research report report published on Friday morning, MarketBeat reports. Wedbush currently has a $120.00 price target on the stock.

A number of other research analysts have also recently commented on ROKU. Susquehanna raised their price target on Roku from $95.00 to $100.00 and gave the stock a positive rating in a research report on Thursday, November 2nd. Moffett Nathanson cut Roku from a market perform rating to a sell rating and raised their price target for the stock from $64.00 to $66.00 in a research report on Friday, December 15th. Seaport Res Ptn cut Roku from a neutral rating to a sell rating in a research report on Monday, December 18th. Pivotal Research lifted their target price on Roku from $75.00 to $85.00 and gave the company a hold rating in a research report on Tuesday, December 19th. Finally, Truist Financial decreased their target price on Roku from $80.00 to $70.00 and set a hold rating on the stock in a research report on Monday, October 23rd. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $85.61.

Check Out Our Latest Research Report on ROKU

Roku Stock Performance

ROKU opened at $98.57 on Friday. Roku has a fifty-two week low of $51.62 and a fifty-two week high of $108.84. The company has a market capitalization of $14.05 billion, a P/E ratio of -15.98 and a beta of 1.80. The stock has a fifty day moving average of $92.58 and a 200-day moving average of $83.69.

Insider Buying and Selling

In related news, SVP Gilbert Fuchsberg sold 3,903 shares of Roku stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $89.03, for a total value of $347,484.09. Following the transaction, the senior vice president now directly owns 36,660 shares of the company’s stock, valued at $3,263,839.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Roku news, SVP Gilbert Fuchsberg sold 3,903 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $89.03, for a total value of $347,484.09. Following the transaction, the senior vice president now directly owns 36,660 shares of the company’s stock, valued at $3,263,839.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $90.50, for a total value of $2,262,500.00. Following the completion of the transaction, the chief executive officer now directly owns 141,221 shares in the company, valued at $12,780,500.50. The disclosure for this sale can be found here. Insiders have sold a total of 125,418 shares of company stock valued at $11,979,970 over the last ninety days. 13.63% of the stock is owned by company insiders.

Hedge Funds Weigh In On Roku

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Roku by 0.7% during the third quarter. Vanguard Group Inc. now owns 11,473,538 shares of the company’s stock valued at $809,917,000 after acquiring an additional 78,185 shares in the last quarter. FMR LLC increased its holdings in shares of Roku by 85.9% during the third quarter. FMR LLC now owns 9,441,349 shares of the company’s stock valued at $666,465,000 after acquiring an additional 4,363,754 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Roku by 10.6% during the second quarter. BlackRock Inc. now owns 6,503,851 shares of the company’s stock valued at $415,986,000 after acquiring an additional 622,746 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Roku by 97.2% during the first quarter. Wellington Management Group LLP now owns 4,174,003 shares of the company’s stock valued at $522,878,000 after acquiring an additional 2,057,633 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Roku by 772.1% during the first quarter. Renaissance Technologies LLC now owns 2,808,100 shares of the company’s stock valued at $351,771,000 after acquiring an additional 2,486,100 shares in the last quarter. 69.21% of the stock is owned by institutional investors and hedge funds.

About Roku

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Roku, Inc, together with its subsidiaries, operates a TV streaming platform. 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 company also provides digital advertising and related services, including the demand-side ad platform and content distribution services, such as subscription and transaction revenue shares; media and entertainment promotional spending services; premium subscriptions services; video and display advertising services; and sells branded channel buttons on remote controls of streaming device.

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Analyst Recommendations for Roku (NASDAQ:ROKU)

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