JPMorgan Chase & Co. Increases Roku (NASDAQ:ROKU) Price Target to $85.00

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

A number of other brokerages also recently issued reports on ROKU. Needham & Company LLC restated a "buy" rating and set a $88.50 price target on shares of Roku in a report on Monday, May 12th. Guggenheim reissued a "buy" rating and set a $100.00 target price on shares of Roku in a research note on Friday, May 2nd. Jefferies Financial Group upgraded Roku from an "underperform" rating to a "hold" rating and lifted their target price for the company from $55.00 to $100.00 in a research report on Thursday, February 20th. Bank of America started coverage on Roku in a report on Thursday, March 27th. They set a "buy" rating and a $100.00 price target for the company. Finally, UBS Group reduced their price objective on shares of Roku from $90.00 to $72.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Roku currently has an average rating of "Moderate Buy" and a consensus target price of $88.37.

Roku Price Performance

Roku stock traded up $0.72 during trading on Tuesday, reaching $73.69. 3,033,544 shares of the company were exchanged, compared to its average volume of 3,810,588. The stock's 50 day simple moving average is $65.37 and its two-hundred day simple moving average is $74.40. The company has a market capitalization of $10.75 billion, a P/E ratio of -82.80 and a beta of 2.06. Roku has a 52-week low of $48.33 and a 52-week high of $104.96.

Roku (NASDAQ:ROKU - Get Free Report) 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. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the firm earned ($0.35) EPS. The company's quarterly revenue was up 15.8% compared to the same quarter last year. As a group, equities analysts forecast that Roku will post -0.3 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Anthony J. Wood sold 25,000 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the sale, the chief executive officer now owns 6,243 shares in the company, valued at approximately $468,225. The trade was a 80.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Dan Jedda sold 1,000 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $75,000.00. Following the completion of the sale, the chief financial officer now directly owns 68,843 shares of the company's stock, valued at approximately $5,163,225. This trade represents a 1.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,013 shares of company stock worth $2,324,135 over the last 90 days. 13.98% of the stock is owned by insiders.

Institutional Investors Weigh In On Roku

Hedge funds have recently made changes to their positions in the business. Garde Capital Inc. purchased a new position in shares of Roku in the 1st quarter valued at approximately $25,000. Banque Transatlantique SA purchased a new position in Roku in the 1st quarter valued at $28,000. Vision Financial Markets LLC purchased a new position in Roku during the 4th quarter worth $30,000. Beaird Harris Wealth Management LLC acquired a new stake in Roku in the first quarter valued at about $30,000. Finally, Golden State Wealth Management LLC lifted its holdings in shares of Roku by 125.4% in the 1st quarter. Golden State Wealth Management LLC now owns 444 shares of the company's stock valued at $31,000 after buying an additional 247 shares during the period. Institutional investors and hedge funds own 86.30% of the company's stock.

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.