Jefferies Financial Group Cuts Roku (NASDAQ:ROKU) Price Target to $55.00

Roku (NASDAQ:ROKU) had its price objective dropped by stock analysts at Jefferies Financial Group from $60.00 to $55.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “underperform” rating on the stock. Jefferies Financial Group’s price objective suggests a potential downside of 16.08% from the company’s current price.

Several other research analysts also recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Robert W. Baird lifted their price objective on Roku from $56.00 to $75.00 and gave the stock a “neutral” rating in a research note on Monday, September 30th. Morgan Stanley increased their target price on Roku from $60.00 to $65.00 and gave the company an “underweight” rating in a research note on Tuesday. Rosenblatt Securities increased their price objective on Roku from $61.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Piper Sandler raised their price objective on shares of Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Roku presently has an average rating of “Hold” and a consensus price target of $83.95.

Roku Stock Performance

Shares of ROKU traded up $1.46 during trading hours on Friday, hitting $65.54. 3,708,398 shares of the company were exchanged, compared to its average volume of 4,420,633. The company has a market cap of $9.48 billion, a PE ratio of -54.62 and a beta of 2.08. The firm’s 50 day moving average is $73.29 and its 200-day moving average is $63.66. Roku has a 52 week low of $48.33 and a 52 week high of $108.84.

Roku (NASDAQ:ROKU) last announced its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.29. Roku had a negative return on equity of 7.30% and a negative net margin of 4.42%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the prior year, the business earned ($2.33) earnings per share. The company’s revenue was up 16.5% on a year-over-year basis. As a group, equities analysts forecast that Roku will post -1.41 earnings per share for the current fiscal year.

Insider Transactions at Roku

In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total value of $109,012.27. Following the transaction, the insider now owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Gilbert Fuchsberg sold 1,693 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total transaction of $109,012.27. Following the transaction, the insider now directly owns 38,602 shares in the company, valued at approximately $2,485,582.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charles Collier sold 15,454 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 200 shares of the company’s stock, valued at approximately $15,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,566 shares of company stock valued at $5,254,000 in the last three months. 13.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Roku

Several hedge funds have recently added to or reduced their stakes in ROKU. ARK Investment Management LLC lifted its position in Roku by 1.3% during the 2nd quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock valued at $762,096,000 after purchasing an additional 159,785 shares during the period. Vanguard Group Inc. boosted its stake in Roku by 0.8% in the first quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock valued at $778,560,000 after acquiring an additional 92,658 shares during the last quarter. Nikko Asset Management Americas Inc. grew its holdings in Roku by 25.8% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock worth $462,108,000 after acquiring an additional 1,455,408 shares during the period. Bank of New York Mellon Corp raised its position in shares of Roku by 5.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 500,794 shares of the company’s stock valued at $30,013,000 after acquiring an additional 24,926 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Roku by 138.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 342,400 shares of the company’s stock valued at $22,314,000 after purchasing an additional 198,600 shares during the period. 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.