JPMorgan Chase & Co. Cuts Roku (NASDAQ:ROKU) Price Target to $75.00

Roku (NASDAQ:ROKU) had its target price lowered by JPMorgan Chase & Co. from $115.00 to $75.00 in a report published on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other research analysts also recently issued research reports about the stock. Piper Sandler began coverage on shares of Roku in a report on Thursday, April 17th. They set a “neutral” rating and a $65.00 price objective on the stock. Benchmark reaffirmed a “buy” rating and issued a $130.00 price target on shares of Roku in a research report on Monday. Citizens Jmp raised Roku to a “strong-buy” rating in a report on Tuesday, January 21st. Pivotal Research upgraded Roku from a “hold” rating to a “buy” rating and raised their target price for the company from $65.00 to $125.00 in a report on Friday, February 14th. Finally, Wells Fargo & Company upgraded Roku from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $74.00 to $129.00 in a report on Friday, February 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $91.50.

Roku Price Performance

NASDAQ ROKU opened at $64.65 on Tuesday. The stock has a market capitalization of $9.44 billion, a P/E ratio of -72.64 and a beta of 2.17. The business has a 50 day simple moving average of $71.59 and a 200 day simple moving average of $75.64. Roku has a one year low of $48.33 and a one year high of $104.96.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.20. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.15 billion. Equities analysts expect that Roku will post -0.3 earnings per share for the current year.

Insider Transactions at Roku

In related news, CAO Matthew C. Banks sold 1,906 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $80.36, for a total value of $153,166.16. Following the completion of the transaction, the chief accounting officer now directly owns 7,256 shares in the company, valued at approximately $583,092.16. The trade was a 20.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $87.93, for a total value of $2,198,250.00. Following the sale, the chief executive officer now owns 26,538 shares in the company, valued at $2,333,486.34. The trade was a 48.51 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,905 shares of company stock valued at $6,560,876. 13.98% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Roku

Institutional investors have recently made changes to their positions in the business. Geneos Wealth Management Inc. grew its position in Roku by 369.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock worth $25,000 after acquiring an additional 270 shares during the last quarter. Garde Capital Inc. bought a new position in shares of Roku during the first quarter valued at about $25,000. Vision Financial Markets LLC purchased a new stake in Roku in the 4th quarter worth approximately $30,000. Golden State Wealth Management LLC boosted its holdings in Roku by 125.4% in the first quarter. Golden State Wealth Management LLC now owns 444 shares of the company’s stock valued at $31,000 after acquiring an additional 247 shares in the last quarter. Finally, Princeton Global Asset Management LLC bought a new stake in shares of Roku during the 1st quarter valued at about $35,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Roku Company Profile

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.