Roku (NASDAQ:ROKU) Given New $100.00 Price Target at JPMorgan Chase & Co.

Roku (NASDAQ:ROKU - Get Free Report) had its target price increased by research analysts at JPMorgan Chase & Co. from $85.00 to $100.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 7.19% from the stock's previous close.

Other equities analysts also recently 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 target price on the stock in a report on Monday, April 7th. Rosenblatt Securities lowered their target price on shares of Roku from $100.00 to $75.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Loop Capital raised shares of Roku from a "hold" rating to a "buy" rating and boosted their target price for the stock from $80.00 to $100.00 in a report on Tuesday, June 17th. Needham & Company LLC boosted their target price on shares of Roku from $88.50 to $100.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Finally, Wedbush reaffirmed an "outperform" rating and set a $100.00 price target on shares of Roku in a research note on Monday, June 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $93.29.

Roku Price Performance

NASDAQ ROKU traded up $2.19 during trading hours on Friday, reaching $93.29. 2,715,215 shares of the company's stock traded hands, compared to its average volume of 3,818,856. Roku has a 52-week low of $48.33 and a 52-week high of $104.96. The firm has a market cap of $13.61 billion, a PE ratio of -127.79 and a beta of 2.12. The firm has a 50-day simple moving average of $79.82 and a 200 day simple moving average of $76.15.

Roku (NASDAQ:ROKU - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share (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 business's revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.35) earnings per share. Sell-side analysts forecast that Roku will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling at Roku

In related 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 value of $45,904.42. Following the completion of the transaction, the chief accounting officer directly owned 8,555 shares of the company's stock, valued at $624,343.90. This trade represents a 6.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 completion of the transaction, the insider directly owned 7,380 shares of the company's stock, valued at $627,300. The trade was a 32.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 96,520 shares of company stock valued at $7,898,294. 13.98% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Roku

A number of institutional investors have recently bought and sold shares of the business. Garde Capital Inc. acquired a new stake in Roku in the 1st quarter valued at $25,000. Beaird Harris Wealth Management LLC purchased a new position in Roku in the 1st quarter valued at $30,000. Banque Transatlantique SA purchased a new position in Roku in the 1st quarter valued at $28,000. Golden State Wealth Management LLC lifted its holdings in 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 purchasing an additional 247 shares in the last quarter. Finally, Princeton Global Asset Management LLC purchased a new position in Roku in the 1st quarter valued at $35,000. 86.30% of the stock is owned by hedge funds and other 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.