Roku (NASDAQ:ROKU) Shares Up 0.3% Following Analyst Upgrade

Roku, Inc. (NASDAQ:ROKU) shot up 0.3% during mid-day trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $80.00 to $90.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Roku traded as high as $79.60 and last traded at $77.62. 911,858 shares were traded during trading, a decline of 80% from the average session volume of 4,571,162 shares. The stock had previously closed at $77.36.

A number of other brokerages also recently issued reports on ROKU. Benchmark reaffirmed a “buy” rating and issued a $105.00 price target on shares of Roku in a report on Thursday, September 12th. Wells Fargo & Company raised shares of Roku from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $50.00 to $72.00 in a research report on Thursday, September 5th. Wolfe Research raised shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price target for the company in a research report on Thursday, September 12th. Bank of America dropped their price objective on Roku from $85.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Finally, Wedbush reissued an “outperform” rating and issued a $75.00 target price on shares of Roku in a research report on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $78.75.

Insider Activity

In other Roku news, insider Charles Collier sold 3,590 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $65.00, for a total transaction of $233,350.00. Following the transaction, the insider now directly owns 12,064 shares in the company, valued at $784,160. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total value of $109,012.27. Following the completion of the transaction, the insider now directly owns 38,602 shares in the company, valued at approximately $2,485,582.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charles Collier sold 3,590 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total value of $233,350.00. Following the sale, the insider now owns 12,064 shares in the company, valued at approximately $784,160. The disclosure for this sale can be found here. Insiders sold 45,945 shares of company stock worth $3,389,805 in the last 90 days. 13.98% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Roku

Large investors have recently added to or reduced their stakes in the business. Swedbank AB purchased a new position in shares of Roku during the 1st quarter worth about $1,180,000. SG Americas Securities LLC increased its holdings in shares of Roku by 238.6% during the 2nd quarter. SG Americas Securities LLC now owns 73,528 shares of the company’s stock worth $4,407,000 after buying an additional 51,815 shares during the last quarter. Norges Bank acquired a new stake in shares of Roku during the 4th quarter worth $90,386,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Roku by 23.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,822 shares of the company’s stock worth $4,094,000 after buying an additional 11,851 shares during the period. Finally, Garde Capital Inc. acquired a new position in Roku in the fourth quarter valued at $105,000. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Roku Price Performance

The stock has a market cap of $11.23 billion, a PE ratio of -19.45 and a beta of 2.06. The stock has a 50-day simple moving average of $62.70 and a 200-day simple moving average of $60.96.

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

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.