JPMorgan Chase & Co. Issues Positive Forecast for Roku (NASDAQ:ROKU) Stock Price

Roku (NASDAQ:ROKU) had its price objective boosted by JPMorgan Chase & Co. from $75.00 to $85.00 in a research note issued to investors on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other research analysts also recently issued reports about the stock. Guggenheim reissued a “buy” rating and issued a $100.00 target price on shares of Roku in a research report on Friday, May 2nd. Citigroup decreased their price target on shares of Roku from $81.00 to $68.00 and set a “neutral” rating for the company in a report on Tuesday, May 6th. Wells Fargo & Company decreased their price target on shares of Roku from $129.00 to $93.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Rosenblatt Securities decreased their price target on shares of Roku from $100.00 to $75.00 and set a “neutral” rating for the company in a report on Friday, May 2nd. Finally, Compass Point started coverage on shares of Roku in a report on Sunday, March 23rd. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Roku has an average rating of “Moderate Buy” and a consensus price target of $88.37.

Roku Price Performance

Roku stock opened at $72.97 on Tuesday. The firm’s 50 day simple moving average is $65.35 and its 200-day simple moving average is $74.41. The company has a market cap of $10.65 billion, a P/E ratio of -81.99 and a beta of 2.06. Roku has a fifty-two week low of $48.33 and a fifty-two week high of $104.96.

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

Insider Buying and Selling at Roku

In other news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. 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 80.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $75,000.00. Following the completion of 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 disclosure for this sale can be found here. Insiders sold 31,013 shares of company stock worth $2,324,135 over the last ninety days. 13.98% of the stock is currently owned by insiders.

Institutional Trading of Roku

A number of institutional investors and hedge funds have recently modified their holdings of the company. Anderson Financial Strategies LLC bought a new position in Roku during the first quarter worth $68,000. Strs Ohio bought a new position in Roku during the first quarter worth $3,984,000. Acadian Asset Management LLC increased its position in Roku by 456.7% during the first quarter. Acadian Asset Management LLC now owns 1,905,779 shares of the company’s stock worth $134,222,000 after acquiring an additional 1,563,449 shares during the period. Focus Partners Wealth bought a new position in Roku during the first quarter worth $229,000. Finally, Plato Investment Management Ltd increased its position in Roku by 217.4% during the first quarter. Plato Investment Management Ltd now owns 9,663 shares of the company’s stock worth $688,000 after acquiring an additional 6,619 shares during the period. 86.30% of the stock is currently owned by institutional investors and hedge funds.

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.