Roku (NASDAQ:ROKU) Receives Market Outperform Rating from JMP Securities

JMP Securities reiterated their market outperform rating on shares of Roku (NASDAQ:ROKU) in a research report report published on Monday morning,Benzinga reports. JMP Securities currently has a $95.00 target price on the stock.

ROKU has been the topic of several other reports. Rosenblatt Securities lowered their price objective on Roku from $100.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, May 2nd. Pivotal Research lowered their price objective on Roku from $125.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Redburn Atlantic upgraded Roku from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a report on Monday, April 7th. UBS Group lowered their price objective on Roku from $90.00 to $72.00 and set a “neutral” rating on the stock in a report on Tuesday, April 15th. Finally, Piper Sandler began coverage on Roku in a report on Thursday, April 17th. They issued a “neutral” rating and a $65.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.93.

Roku Stock Up 0.8%

NASDAQ:ROKU opened at $73.01 on Monday. Roku has a 52 week low of $48.33 and a 52 week high of $104.96. The stock has a market capitalization of $10.66 billion, a PE ratio of -82.03 and a beta of 2.06. The stock’s 50-day moving average price is $65.41 and its 200-day moving average price is $74.42.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.08. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the firm posted ($0.35) EPS. Roku’s revenue was up 15.8% compared to the same quarter last year. Sell-side analysts expect that Roku will post -0.3 earnings per share for the current fiscal year.

Insider Activity

In other Roku news, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $75,000.00. Following the sale, the chief financial officer now owns 68,843 shares of the company’s stock, valued at $5,163,225. The trade was a 1.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Anthony J. Wood sold 4,600 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $345,000.00. Following the completion of the sale, the chief executive officer now directly owns 6,243 shares in the company, valued at approximately $468,225. The trade was a 42.42% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,013 shares of company stock valued at $2,324,135. 13.98% of the stock is currently owned by company insiders.

Institutional Trading of Roku

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Garde Capital Inc. purchased a new stake in Roku in the first quarter valued at approximately $25,000. Banque Transatlantique SA purchased a new stake in Roku in the first quarter valued at approximately $28,000. Vision Financial Markets LLC purchased a new stake in Roku in the fourth quarter valued at approximately $30,000. Beaird Harris Wealth Management LLC acquired a new position in shares of Roku in the first quarter worth $30,000. Finally, Golden State Wealth Management LLC grew its stake in shares of Roku by 125.4% in the first quarter. Golden State Wealth Management LLC now owns 444 shares of the company’s stock worth $31,000 after acquiring an additional 247 shares in the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

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.