Roku (NASDAQ:ROKU) Price Target Raised to $100.00

Roku (NASDAQ:ROKU) had its price objective boosted by JPMorgan Chase & Co. from $85.00 to $100.00 in a research note released on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other brokerages also recently commented on ROKU. FBN Securities began coverage on shares of Roku in a research note on Friday, March 28th. They set an “outperform” rating and a $93.00 price objective for the company. Wedbush reissued an “outperform” rating and issued a $100.00 price target on shares of Roku in a research note on Monday, June 16th. UBS Group decreased their price target on shares of Roku from $90.00 to $72.00 and set a “neutral” rating for the company in a research note on Tuesday, April 15th. Redburn Atlantic raised shares of Roku from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research note on Monday, April 7th. Finally, Piper Sandler increased their price target on shares of Roku from $65.00 to $84.00 and gave the stock a “neutral” rating in a research note on Thursday, July 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Roku has a consensus rating of “Moderate Buy” and an average price target of $93.29.

Roku Trading Up 2.4%

Shares of NASDAQ:ROKU opened at $93.29 on Friday. The company has a market cap of $13.61 billion, a price-to-earnings ratio of -127.79 and a beta of 2.12. The company has a 50-day moving average price of $79.82 and a 200-day moving average price of $76.16. Roku has a 12 month low of $48.33 and a 12 month high of $104.96.

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

Insider Activity

In other news, CAO Matthew C. Banks sold 629 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $72.98, for a total transaction of $45,904.42. Following the sale, the chief accounting officer owned 8,555 shares in the company, valued at $624,343.90. This represents a 6.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Charles Collier sold 3,590 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $85.00, for a total transaction of $305,150.00. Following the sale, the insider owned 7,380 shares in the company, valued at approximately $627,300. The trade was a 32.73% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 96,520 shares of company stock valued at $7,898,294. Company insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Institutional investors have recently made changes to their positions in the company. Garde Capital Inc. purchased a new stake in Roku in the first quarter worth approximately $25,000. Beaird Harris Wealth Management LLC purchased a new stake in Roku in the first quarter worth approximately $30,000. Banque Transatlantique SA purchased a new stake in Roku in the first quarter worth approximately $28,000. 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 worth $31,000 after purchasing an additional 247 shares during the last quarter. Finally, Princeton Global Asset Management LLC purchased a new stake in Roku in the first quarter worth approximately $35,000. 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.