Roku (NASDAQ:ROKU) Price Target Cut to $72.00 by Analysts at UBS Group

Roku (NASDAQ:ROKU) had its price target reduced by UBS Group from $90.00 to $72.00 in a research report report published on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

Several other brokerages have also issued reports on ROKU. Needham & Company LLC reaffirmed a “buy” rating and set a $88.50 target price on shares of Roku in a research report on Monday. Bank of America started coverage on Roku in a research note on Thursday, March 27th. They set a “buy” rating and a $100.00 price target on the stock. Citizens Jmp raised shares of Roku to a “strong-buy” rating in a research report on Tuesday, January 21st. Wedbush reissued an “outperform” rating and set a $100.00 target price on shares of Roku in a research report on Monday, February 10th. Finally, JPMorgan Chase & Co. raised their price target on shares of Roku from $92.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $94.54.

Roku Stock Performance

ROKU stock opened at $59.39 on Tuesday. The firm has a 50-day simple moving average of $75.61 and a two-hundred day simple moving average of $76.37. Roku has a one year low of $48.33 and a one year high of $104.96. The firm has a market cap of $8.67 billion, a price-to-earnings ratio of -66.73 and a beta of 2.17.

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.20. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.15 billion. As a group, equities analysts predict that Roku will post -0.3 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Matthew C. Banks sold 1,906 shares of the firm’s stock in a transaction that occurred on 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 owns 7,256 shares in the company, valued at $583,092.16. This trade represents a 20.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Anthony J. Wood sold 4,600 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $345,000.00. Following the sale, the chief executive officer now owns 6,243 shares of the company’s stock, valued at $468,225. The trade was a 42.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,905 shares of company stock worth $6,560,876 in the last quarter. Corporate insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Several institutional investors and hedge funds have recently added to or reduced their stakes in ROKU. Geneos Wealth Management Inc. lifted its stake in shares of Roku by 369.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock worth $25,000 after buying an additional 270 shares in the last quarter. Vision Financial Markets LLC purchased a new position in Roku in the 4th quarter worth approximately $30,000. Princeton Global Asset Management LLC purchased a new position in Roku in the 1st quarter worth approximately $35,000. Game Plan Financial Advisors LLC purchased a new stake in shares of Roku in the fourth quarter valued at approximately $37,000. Finally, Harvest Fund Management Co. Ltd grew its position in shares of Roku by 4,091.7% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company’s stock valued at $37,000 after purchasing an additional 491 shares in the last quarter. Institutional investors and hedge funds 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.