Roku Inc. [NASDAQ: ROKU] loss -3.77% on the last trading session, reaching $61.82 price per share at the time. The company report on March 10, 2023 that Roku and Best Buy Help Create Better TV Experience through New Advertising and Retail Relationship.
Multifaceted first-to-market relationship includes exclusive in-store availability of new Roku-branded TVs, enhanced advertising sales relationship, and in-person SXSW activation.
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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.
Roku Inc. represents 139.68 million in outstanding shares, while the company has a total market value of $8.79 billion with the latest information. ROKU stock price has been found in the range of $60.4883 to $63.9999.
If compared to the average trading volume of 7.97M shares, ROKU reached a trading volume of 7901054 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 $68.51 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.
Wolfe Research have made an estimate for Roku Inc. shares, keeping their opinion on the stock as Peer Perform, with their previous recommendation back on March 14, 2023. While these analysts kept the previous recommendation, BofA Securities raised their target price from $45 to $85. The new note on the price target was released on February 17, 2023, representing the official price target for Roku Inc. stock. Previously, the target price had yet another raise to $76, while Atlantic Equities analysts kept a Neutral rating on ROKU stock. On January 17, 2023, analysts decreased their price target for ROKU shares from 90 to 50.
The Average True Range (ATR) for Roku Inc. is set at 4.08, with the Price to Sales ratio for ROKU stock in the period of the last 12 months amounting to 2.81. The Price to Book ratio for the last quarter was 3.26, with the Price to Cash per share for the same quarter was set at 13.80.
Trading performance analysis for ROKU stock
Roku Inc. [ROKU] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.83. With this latest performance, ROKU shares dropped by -12.40% in over the last four-week period, additionally sinking by -13.36% over the last 6 months – not to mention a drop of -48.43% 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 50.08, with the RSI for the last a single of trading hit 47.30, and the three-weeks RSI is set at 51.75 for Roku Inc. [ROKU]. The present Moving Average for the last 50 days of trading for this stock 58.73, while it was recorded at 63.06 for the last single week of trading, and 64.94 for the last 200 days.
Roku Inc. [ROKU]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Roku Inc. [ROKU] shares currently have an operating margin of -16.74 and a Gross Margin at +43.33. Roku Inc.’s Net Margin is presently recorded at -15.93.
Return on Equity for this stock declined to -18.40, with Return on Assets sitting at -11.73.
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 $6,183 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 $689.91 million in ROKU stocks shares; and SUMITOMO MITSUI TRUST HOLDINGS, INC., currently with $485.13 million in ROKU stock with ownership of nearly 5.998% of the company’s market capitalization.
Positions in Roku Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 247 institutional holders increased their position in Roku Inc. [NASDAQ:ROKU] by around 15,263,922 shares. Additionally, 296 investors decreased positions by around 11,714,631 shares, while 89 investors held positions by with 73,035,616 shares. The mentioned changes placed institutional holdings at 100,014,169 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.