Roku Inc. [ROKU] Is Currently -0.75 below its 200 Period Moving Avg: What Does This Mean?

Roku Inc. [NASDAQ: ROKU] loss -0.75% or -0.45 points to close at $59.54 with a heavy trading volume of 13162905 shares. The company report on March 10, 2023 that Roku and Best Buy Help Create Better TV Experience through New Advertising and Retail Relationship.

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Multifaceted first-to-market relationship includes exclusive in-store availability of new Roku-branded TVs, enhanced advertising sales relationship, and in-person SXSW activation.

Today, Roku, (Nasdaq: ROKU) the #1 TV streaming platform in the U.S., Canada, and Mexico*, and Best Buy (NYSE: BBY), the leading consumer tech retailer in the U.S., announced a first-to-market relationship across their advertising and retail businesses. For the first time, Best Buy is partnering with a TV streaming platform to provide its first-party data for targeting and closed-loop measurement. Best Buy will also give shoppers exclusive access to Roku-branded TVs.

It opened the trading session at $57.81, the shares rose to $61.05 and dropped to $54.50, the range by which the price of stock traded the whole day. The daily chart for ROKU points out that the company has recorded -16.79% loss over the past six months. However, it is still -55.62% lower than its most recent low trading price.

If we look at the average trading volume of 7.91M shares, ROKU reached to a volume of 13162905 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Roku Inc. [ROKU]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ROKU shares is $67.97 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ROKU stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Roku Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 17, 2023. The new note on the price target was released on February 16, 2023, representing the official price target for Roku Inc. stock. Previously, the target price had yet another drop from $90 to $50, while Truist kept a Hold rating on ROKU stock. On January 12, 2023, analysts decreased their price target for ROKU shares from 45 to 30.

The Average True Range (ATR) for Roku Inc. is set at 4.35, with the Price to Sales ratio for ROKU stock in the period of the last 12 months amounting to 2.69. The Price to Book ratio for the last quarter was 3.14, with the Price to Cash per share for the same quarter was set at 13.88.

Trading performance analysis for ROKU stock

Roku Inc. [ROKU] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.44. With this latest performance, ROKU shares gained by 8.27% in over the last four-week period, additionally sinking by -16.79% over the last 6 months – not to mention a drop of -46.29% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ROKU stock in for the last two-week period is set at 46.61, with the RSI for the last a single of trading hit 40.39, and the three-weeks RSI is set at 49.62 for Roku Inc. [ROKU]. The present Moving Average for the last 50 days of trading for this stock 56.56, while it was recorded at 61.14 for the last single week of trading, and 65.64 for the last 200 days.

Roku Inc. [ROKU]: A deeper dive into fundamental analysis

Roku Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.60 and a Current Ratio set at 2.70.

Roku Inc. [ROKU]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ROKU. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Roku Inc. go to 43.00%.

An analysis of insider ownership at Roku Inc. [ROKU]

There are presently around $5,954 million, or 77.80% of ROKU stock, in the hands of institutional investors. The top three institutional holders of ROKU stocks are: ARK INVESTMENT MANAGEMENT LLC with ownership of 12,114,981, which is approximately 1.654% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 11,160,020 shares of the stock with an approximate value of $664.47 million in ROKU stocks shares; and SUMITOMO MITSUI TRUST HOLDINGS, INC., currently with $467.24 million in ROKU stock with ownership of nearly 5.998% of the company’s market capitalization.

246 institutional holders increased their position in Roku Inc. [NASDAQ:ROKU] by around 15,261,854 shares. Additionally, 296 investors decreased positions by around 11,714,631 shares, while 89 investors held positions by with 73,018,952 shares. The mentioned changes placed institutional holdings at 99,995,437 shares, according to the latest SEC report filing. ROKU stock had 79 new institutional investments in for a total of 2,379,002 shares, while 124 institutional investors sold positions of 1,573,187 shares during the same period.


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