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

Roku (NASDAQ:ROKU) had its price target raised by research analysts at JPMorgan Chase & Co. from $80.00 to $90.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 17.31% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Bank of America dropped their price target on Roku from $85.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Needham & Company LLC restated a “buy” rating and set a $100.00 target price on shares of Roku in a research note on Friday, September 13th. Wells Fargo & Company raised shares of Roku from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $50.00 to $72.00 in a report on Thursday, September 5th. Benchmark reissued a “buy” rating and issued a $105.00 price target on shares of Roku in a report on Thursday, September 12th. Finally, Guggenheim upgraded shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Friday, August 23rd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Roku currently has a consensus rating of “Hold” and a consensus price target of $78.75.

Roku Price Performance

ROKU stock traded up $2.05 during trading hours on Wednesday, reaching $76.72. The stock had a trading volume of 1,970,526 shares, compared to its average volume of 4,570,929. The stock has a market capitalization of $11.06 billion, a PE ratio of -19.23 and a beta of 2.06. The stock has a 50-day simple moving average of $62.38 and a 200 day simple moving average of $60.84. Roku has a fifty-two week low of $48.33 and a fifty-two week high of $108.84.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) 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%. Roku’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.76) earnings per share. On average, sell-side analysts forecast that Roku will post -1.45 EPS for the current fiscal year.

Insider Activity at Roku

In related news, insider Charles Collier sold 15,454 shares of the firm’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 $1,159,050.00. Following the sale, the insider now directly owns 200 shares of the company’s stock, valued at $15,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 sale, the insider now directly owns 200 shares of the company’s stock, valued at $15,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the transaction, the chief executive officer now owns 5,020 shares of the company’s stock, valued at approximately $376,500. The disclosure for this sale can be found here. Insiders sold a total of 45,945 shares of company stock valued at $3,389,805 over the last quarter. 13.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Roku

A number of hedge funds have recently modified their holdings of the business. ARK Investment Management LLC increased its holdings in Roku by 1.3% in the second quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock valued at $762,096,000 after purchasing an additional 159,785 shares during the period. Vanguard Group Inc. increased its stake in shares of Roku by 0.8% in the first quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock valued at $778,560,000 after buying an additional 92,658 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Roku by 24.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock worth $478,939,000 after purchasing an additional 1,457,925 shares during the last quarter. Nikko Asset Management Americas Inc. raised its stake in Roku by 25.8% during the first quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock worth $462,108,000 after buying an additional 1,455,408 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Roku in the 4th quarter worth about $90,386,000. 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.