JPMorgan Chase & Co. Boosts Roku (NASDAQ:ROKU) Price Target to $90.00

Roku (NASDAQ:ROKU) had its price objective lifted by equities researchers at JPMorgan Chase & Co. from $80.00 to $90.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 17.31% from the company’s previous close.

A number of other equities research analysts have also commented on the stock. Wolfe Research raised shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price objective on the stock in a report on Thursday, September 12th. Benchmark reissued a “buy” rating and set a $105.00 price target on shares of Roku in a research note on Thursday, September 12th. Wedbush restated an “outperform” rating and issued a $75.00 price objective on shares of Roku in a research report on Friday, August 2nd. Wells Fargo & Company raised Roku from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $50.00 to $72.00 in a report on Thursday, September 5th. Finally, Rosenblatt Securities lowered their target price on Roku from $89.00 to $61.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Roku currently has an average rating of “Hold” and a consensus target price of $78.75.

Roku Stock Performance

Shares of NASDAQ ROKU traded up $2.05 during mid-day trading on Wednesday, hitting $76.72. 1,970,526 shares of the stock were exchanged, compared to its average volume of 4,570,929. The company has a market cap of $11.06 billion, a P/E ratio of -19.23 and a beta of 2.06. Roku has a twelve month low of $48.33 and a twelve month high of $108.84. The stock’s fifty day simple moving average is $62.38 and its two-hundred day simple moving average is $60.84.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.21. The company had revenue of $968.18 million for the quarter, compared to analyst estimates of $937.78 million. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The business’s revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.76) earnings per share. As a group, equities research analysts predict that Roku will post -1.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Roku

In other news, insider Charles Collier sold 15,454 shares of Roku stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,159,050.00. Following the transaction, the insider now owns 200 shares in the company, valued at approximately $15,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the sale, the chief executive officer now directly owns 5,020 shares in the company, valued at $376,500. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Charles Collier sold 15,454 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $75.00, for a total value of $1,159,050.00. Following the transaction, the insider now owns 200 shares of the company’s stock, valued at $15,000. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,945 shares of company stock valued at $3,389,805. Company insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

A number of large investors have recently bought and sold shares of ROKU. Granite Bay Wealth Management LLC bought a new stake in shares of Roku in the second quarter worth $1,142,000. Quarry LP increased its stake in Roku by 127.9% in the 2nd quarter. Quarry LP now owns 1,682 shares of the company’s stock valued at $101,000 after buying an additional 944 shares during the last quarter. Algert Global LLC lifted its position in Roku by 144.4% during the 2nd quarter. Algert Global LLC now owns 55,177 shares of the company’s stock worth $3,307,000 after buying an additional 32,603 shares in the last quarter. Empirical Capital Management LLC boosted its stake in shares of Roku by 10.0% during the 2nd quarter. Empirical Capital Management LLC now owns 177,000 shares of the company’s stock worth $10,608,000 after buying an additional 16,031 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Roku in the 2nd quarter valued at about $3,437,000. 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.