Roku (NASDAQ:ROKU) Price Target Raised to $115.00

Roku (NASDAQ:ROKU) had its price objective increased by JPMorgan Chase & Co. from $92.00 to $115.00 in a report released on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

ROKU has been the topic of a number of other reports. Macquarie reaffirmed an “outperform” rating and issued a $90.00 price objective on shares of Roku in a research note on Thursday, October 31st. JMP Securities reaffirmed a “market outperform” rating and issued a $95.00 price objective on shares of Roku in a research note on Monday, February 3rd. Moffett Nathanson lowered shares of Roku from a “neutral” rating to a “sell” rating and set a $55.00 price objective on the stock. in a research note on Friday, January 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Roku in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company raised shares of Roku from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $74.00 to $129.00 in a research note on Friday. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and two have assigned 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 price target of $92.62.

Roku Stock Up 14.1 %

Shares of Roku stock opened at $99.07 on Friday. Roku has a twelve month low of $48.33 and a twelve month high of $104.96. The company has a 50-day simple moving average of $80.56 and a two-hundred day simple moving average of $73.87. The stock has a market capitalization of $14.38 billion, a price-to-earnings ratio of -82.56 and a beta of 2.05.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.20. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.15 billion. On average, sell-side analysts anticipate that Roku will post -1.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Roku

In related news, CFO Dan Jedda sold 1,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. 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 65,555 shares of the company’s stock, valued at approximately $4,916,625. This represents a 1.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $87.93, for a total transaction of $2,198,250.00. Following the completion of the sale, the chief executive officer now directly owns 26,538 shares of the company’s stock, valued at $2,333,486.34. This represents a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 78,421 shares of company stock worth $6,523,886. Company insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in shares of Roku by 43.3% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 13,739 shares of the company’s stock valued at $1,026,000 after acquiring an additional 4,151 shares during the last quarter. Cornerstone Wealth Management LLC bought a new position in shares of Roku during the 3rd quarter valued at approximately $212,000. Richard W. Paul & Associates LLC boosted its position in shares of Roku by 27.3% during the 3rd quarter. Richard W. Paul & Associates LLC now owns 15,820 shares of the company’s stock valued at $1,181,000 after acquiring an additional 3,395 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Roku by 227.7% during the 3rd quarter. Blue Trust Inc. now owns 8,494 shares of the company’s stock valued at $634,000 after acquiring an additional 5,902 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Roku by 11.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,207 shares of the company’s stock valued at $165,000 after acquiring an additional 222 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors.

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.