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

Roku (NASDAQ:ROKU - Get Free Report)'s stock had its "market outperform" rating reissued by investment analysts at JMP Securities in a research note issued on Monday,Benzinga reports. They currently have a $95.00 price objective on the stock. JMP Securities' price target would indicate a potential upside of 26.15% from the stock's current price.

A number of other equities research analysts have also recently issued reports on the stock. Guggenheim restated a "buy" rating and set a $100.00 price target on shares of Roku in a report on Friday, May 2nd. Moffett Nathanson upgraded shares of Roku from a "sell" rating to a "neutral" rating and set a $70.00 price target for the company in a research note on Tuesday, March 4th. Bank of America assumed coverage on shares of Roku in a research note on Thursday, March 27th. They set a "buy" rating and a $100.00 price target for the company. Evercore ISI cut their price target on shares of Roku from $105.00 to $80.00 and set an "in-line" rating for the company in a research note on Friday, May 2nd. Finally, Jefferies Financial Group upgraded shares of 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 note on Thursday, February 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $88.37.

Roku Stock Performance

Shares of NASDAQ ROKU traded up $1.62 during mid-day trading on Monday, reaching $75.31. The company had a trading volume of 2,139,770 shares, compared to its average volume of 3,804,378. Roku has a twelve month low of $48.33 and a twelve month high of $104.96. The stock has a market capitalization of $10.99 billion, a PE ratio of -84.53 and a beta of 2.06. The stock's 50 day moving average is $65.37 and its 200-day moving average is $74.40.

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 analysts' consensus estimates 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%. Roku's revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.35) earnings per share. On average, sell-side analysts anticipate that Roku will post -0.3 EPS for the current year.

Insiders Place Their Bets

In other Roku news, CAO Matthew C. Banks sold 629 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $72.98, for a total value of $45,904.42. Following the transaction, the chief accounting officer now directly owns 8,555 shares of the company's stock, valued at $624,343.90. This represents a 6.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Anthony J. Wood sold 4,600 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $345,000.00. Following the completion of the transaction, the chief executive officer now directly owns 6,243 shares in the company, valued at approximately $468,225. This represents a 42.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,642 shares of company stock valued at $2,370,040 in the last three months. 13.98% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ROKU. Entropy Technologies LP boosted its position in shares of Roku by 264.4% during the 4th quarter. Entropy Technologies LP now owns 25,525 shares of the company's stock worth $1,898,000 after acquiring an additional 18,520 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Roku by 505.3% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,296,774 shares of the company's stock worth $96,402,000 after purchasing an additional 1,082,548 shares during the period. Geode Capital Management LLC lifted its position in shares of Roku by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company's stock worth $159,353,000 after purchasing an additional 56,820 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Roku by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 990,867 shares of the company's stock worth $73,661,000 after buying an additional 34,898 shares during the last quarter. Finally, Achmea Investment Management B.V. raised its stake in Roku by 146.4% during the fourth quarter. Achmea Investment Management B.V. now owns 10,168 shares of the company's stock worth $756,000 after buying an additional 6,042 shares during the last quarter. 86.30% of the stock is owned by institutional investors.

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.