Roku (NASDAQ:ROKU) Shares Up 1.3% After Analyst Upgrade

Roku, Inc. (NASDAQ:ROKU)’s stock price shot up 1.3% during mid-day trading on Friday after JPMorgan Chase & Co. raised their price target on the stock from $85.00 to $100.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Roku traded as high as $92.46 and last traded at $92.30. 748,646 shares were traded during trading, a decline of 81% from the average session volume of 3,909,488 shares. The stock had previously closed at $91.10.

A number of other brokerages have also recently issued reports on ROKU. Guggenheim reiterated a “buy” rating and set a $100.00 target price on shares of Roku 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 target for the company in a report on Monday, April 7th. Benchmark restated a “buy” rating and issued a $130.00 price target on shares of Roku in a report on Friday, May 2nd. Compass Point started coverage on Roku in a report on Sunday, March 23rd. They issued a “buy” rating for the company. Finally, Rosenblatt Securities decreased their price target on Roku from $100.00 to $75.00 and set a “neutral” rating for the company in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Roku has a consensus rating of “Moderate Buy” and an average target price of $93.29.

Insider Buying and Selling at Roku

In other Roku news, Director Mai Fyfield sold 914 shares of the business’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $78.50, for a total transaction of $71,749.00. Following the completion of the sale, the director owned 4,374 shares in the company, valued at $343,359. The trade was a 17.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Dan Jedda sold 3,000 shares of the business’s stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $90.20, for a total transaction of $270,600.00. Following the sale, the chief financial officer owned 76,132 shares of the company’s stock, valued at approximately $6,867,106.40. The trade was a 3.79% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 96,520 shares of company stock worth $7,898,294. Company insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

Several institutional investors have recently modified their holdings of the company. Garde Capital Inc. acquired a new position in Roku during the 1st quarter valued at about $25,000. Banque Transatlantique SA acquired a new position in shares of Roku in the first quarter worth about $28,000. Beaird Harris Wealth Management LLC acquired a new position in shares of Roku in the first quarter worth about $30,000. Golden State Wealth Management LLC boosted its holdings 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 buying an additional 247 shares during the period. Finally, Princeton Global Asset Management LLC acquired a new position in shares of Roku in the first quarter worth about $35,000. Institutional investors own 86.30% of the company’s stock.

Roku Price Performance

The firm’s fifty day simple moving average is $79.82 and its 200 day simple moving average is $76.13. The company has a market capitalization of $13.61 billion, a price-to-earnings ratio of -127.79 and a beta of 2.12.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.08. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Roku had a negative net margin of 2.49% and a negative return on equity of 4.29%. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period last year, the company posted ($0.35) earnings per share. Equities research analysts forecast that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

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.