JPMorgan Chase & Co. Increases Roku (NASDAQ:ROKU) Price Target to $100.00

Roku (NASDAQ:ROKU) had its target price increased by JPMorgan Chase & Co. from $95.00 to $100.00 in a report issued on Thursday, Marketbeat reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 19.80% from the stock’s previous close.

ROKU has been the subject of several other reports. Needham & Company LLC increased their target price on shares of Roku from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, July 28th. Morgan Stanley upped their price objective on shares of Roku from $50.00 to $55.00 and gave the company an “underweight” rating in a research note on Monday, July 31st. Susquehanna upped their price objective on shares of Roku from $75.00 to $95.00 and gave the company a “positive” rating in a research note on Friday, July 28th. Evercore ISI increased their price target on shares of Roku from $70.00 to $75.00 and gave the stock an “in-line” rating in a research note on Friday, July 28th. Finally, Citigroup lowered shares of Roku from a “buy” rating to a “neutral” rating and increased their price target for the stock from $75.00 to $105.00 in a research note on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Roku currently has an average rating of “Hold” and an average price target of $82.17.

Roku Stock Down 0.2 %

Roku stock opened at $83.47 on Thursday. The firm has a 50-day moving average price of $78.48 and a two-hundred day moving average price of $67.48. The firm has a market capitalization of $11.81 billion, a price-to-earnings ratio of -17.68 and a beta of 1.76. Roku has a 52-week low of $38.26 and a 52-week high of $98.44.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, July 27th. The company reported ($0.76) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.28) by $0.52. The company had revenue of $847.20 million during the quarter, compared to analyst estimates of $774.65 million. Roku had a negative net margin of 20.54% and a negative return on equity of 25.15%. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.82) EPS. Research analysts expect that Roku will post -4.49 earnings per share for the current year.

Insider Activity

In related news, CAO Matthew C. Banks sold 1,259 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $82.69, for a total transaction of $104,106.71. Following the completion of the sale, the chief accounting officer now owns 6,017 shares in the company, valued at approximately $497,545.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Stephen H. Kay sold 5,692 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $91.68, for a total value of $521,842.56. Following the transaction, the senior vice president now owns 78,527 shares of the company’s stock, valued at approximately $7,199,355.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Matthew C. Banks sold 1,259 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $82.69, for a total transaction of $104,106.71. Following the completion of the transaction, the chief accounting officer now directly owns 6,017 shares in the company, valued at approximately $497,545.73. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,430 shares of company stock worth $1,487,351. 13.63% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ROKU. Renaissance Technologies LLC lifted its stake in Roku by 772.1% in the first quarter. Renaissance Technologies LLC now owns 2,808,100 shares of the company’s stock valued at $351,771,000 after buying an additional 2,486,100 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Roku by 97.2% in the first quarter. Wellington Management Group LLP now owns 4,174,003 shares of the company’s stock valued at $522,878,000 after purchasing an additional 2,057,633 shares during the last quarter. FMR LLC increased its holdings in Roku by 62.8% during the first quarter. FMR LLC now owns 4,782,318 shares of the company’s stock worth $314,772,000 after buying an additional 1,844,297 shares during the last quarter. Marshall Wace LLP increased its holdings in Roku by 579.2% during the fourth quarter. Marshall Wace LLP now owns 1,963,896 shares of the company’s stock worth $79,931,000 after buying an additional 1,674,747 shares during the last quarter. Finally, Two Sigma Advisers LP increased its holdings in Roku by 263.6% during the first quarter. Two Sigma Advisers LP now owns 2,300,300 shares of the company’s stock worth $151,406,000 after buying an additional 1,667,700 shares during the last quarter. Institutional investors own 69.21% of the company’s stock.

Roku Company Profile

Roku, Inc, together with its subsidiaries, operates a TV streaming platform. 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 company also provides digital advertising and related services, including the demand-side ad platform and content distribution services, such as subscription and transaction revenue shares; media and entertainment promotional spending services; premium subscriptions services; video and display advertising services; and sells branded channel buttons on remote controls of streaming device.