Roku’s (ROKU) Outperform Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of Roku (NASDAQ:ROKU) in a research note released on Wednesday,RTT News reports. They currently have a $100.00 target price on the stock. Wedbush also issued estimates for Roku’s Q4 2024 earnings at ($0.43) EPS, FY2024 earnings at ($1.09) EPS, Q3 2025 earnings at ($0.08) EPS, Q4 2025 earnings at ($0.20) EPS, FY2025 earnings at ($0.96) EPS and FY2026 earnings at $0.22 EPS.

ROKU has been the topic of several other research reports. Jefferies Financial Group dropped their target price on Roku from $60.00 to $55.00 and set an “underperform” rating on the stock in a research report on Friday, November 1st. Wolfe Research raised Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price objective on the stock in a report on Thursday, September 12th. JPMorgan Chase & Co. increased their price objective on Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Piper Sandler boosted their target price on shares of Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Morgan Stanley increased their price target on shares of Roku from $60.00 to $65.00 and gave the company an “underweight” rating in a report on Tuesday, October 29th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $82.62.

Roku Trading Down 4.6 %

NASDAQ:ROKU opened at $79.19 on Wednesday. Roku has a 12-month low of $48.33 and a 12-month high of $99.80. The stock’s 50 day simple moving average is $75.99 and its 200-day simple moving average is $69.89. The firm has a market cap of $11.50 billion, a P/E ratio of -65.99 and a beta of 2.05.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.29. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. Roku’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($2.33) EPS. Research analysts forecast that Roku will post -1.1 EPS for the current fiscal year.

Insider Activity at Roku

In other news, CAO Matthew C. Banks sold 8,693 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $71.44, for a total transaction of $621,027.92. Following the completion of the sale, the chief accounting officer now owns 7,264 shares of the company’s stock, valued at approximately $518,940.16. This trade represents a 54.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charles Collier sold 10,771 shares of Roku stock in a transaction on Monday, November 18th. The stock was sold at an average price of $71.14, for a total transaction of $766,248.94. Following the completion of the sale, the insider now owns 3,790 shares of the company’s stock, valued at approximately $269,620.60. This trade represents a 73.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 48,095 shares of company stock valued at $3,731,038. Corporate insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

A number of hedge funds have recently bought and sold shares of the company. Holocene Advisors LP acquired a new position in shares of Roku in the 3rd quarter worth approximately $129,015,000. Kessler Investment Group LLC boosted its holdings in Roku by 21.8% in the third quarter. Kessler Investment Group LLC now owns 75,968 shares of the company’s stock worth $5,672,000 after purchasing an additional 13,590 shares during the period. National Bank of Canada FI increased its stake in Roku by 11,626.3% during the third quarter. National Bank of Canada FI now owns 150,800 shares of the company’s stock valued at $11,259,000 after purchasing an additional 149,514 shares during the last quarter. EULAV Asset Management raised its holdings in shares of Roku by 59.1% during the third quarter. EULAV Asset Management now owns 183,000 shares of the company’s stock worth $13,663,000 after purchasing an additional 68,000 shares during the period. Finally, Granite Bay Wealth Management LLC bought a new position in shares of Roku in the 2nd quarter worth about $1,142,000. 86.30% of the stock is currently owned by institutional investors and hedge funds.

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.