JMP Securities Reaffirms Market Outperform Rating for Roku (NASDAQ:ROKU)

Roku (NASDAQ:ROKU - Get Free Report)'s stock had its "market outperform" rating restated by JMP Securities in a report issued on Tuesday,Benzinga reports. They presently have a $95.00 target price on the stock. JMP Securities' target price indicates a potential upside of 16.55% from the stock's current price.

Other equities research analysts have also issued research reports about the stock. 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 report on Monday, April 7th. Piper Sandler initiated coverage on shares of Roku in a report on Thursday, April 17th. They set a "neutral" rating and a $65.00 target price for the company. Evercore ISI decreased their price target on shares of Roku from $105.00 to $80.00 and set an "in-line" rating on the stock in a research report on Friday, May 2nd. Rosenblatt Securities dropped their price target on shares of Roku from $100.00 to $75.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Finally, Wells Fargo & Company reduced their price objective on Roku from $129.00 to $93.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $89.24.

Roku Trading Down 0.8%

Roku stock traded down $0.66 during trading hours on Tuesday, hitting $81.51. 3,108,923 shares of the stock traded hands, compared to its average volume of 3,848,382. Roku has a one year low of $48.33 and a one year high of $104.96. The firm's 50-day moving average price is $67.99 and its two-hundred day moving average price is $74.97. The company has a market cap of $11.90 billion, a PE ratio of -91.67 and a beta of 2.09.

Roku (NASDAQ:ROKU - Get Free Report) last posted its quarterly 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 company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The firm's quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.35) EPS. On average, sell-side analysts expect that Roku will post -0.3 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Matthew C. Banks sold 629 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $72.98, for a total value of $45,904.42. Following the completion of the sale, the chief accounting officer now directly owns 8,555 shares of the company's stock, valued at $624,343.90. The trade was a 6.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Anthony J. Wood sold 4,600 shares of the company'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 $345,000.00. Following the sale, the chief executive officer now owns 6,243 shares of the company's stock, valued at $468,225. This trade represents a 42.42% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,737 shares of company stock worth $4,987,114. 13.98% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ROKU. Garde Capital Inc. acquired a new stake in Roku during the 1st quarter valued at $25,000. Banque Transatlantique SA acquired a new stake in Roku during the first quarter worth approximately $28,000. Vision Financial Markets LLC purchased a new stake in Roku in the 4th quarter worth approximately $30,000. Beaird Harris Wealth Management LLC acquired a new position in Roku in the 1st quarter valued at $30,000. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Roku by 125.4% during 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. 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.

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