Roku (NASDAQ:ROKU) Trading Up 0.8% Following Analyst Upgrade

Roku, Inc. (NASDAQ:ROKU) was up 0.8% during trading on Friday after JPMorgan Chase & Co. raised their price target on the stock from $90.00 to $92.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Roku traded as high as $78.22 and last traded at $78.01. Approximately 290,263 shares were traded during trading, a decline of 93% from the average daily volume of 4,424,164 shares. The stock had previously closed at $77.37.

A number of other research analysts have also commented on ROKU. Guggenheim upgraded Roku from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Friday, August 23rd. Wolfe Research upgraded Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price objective on the stock in a research report on Thursday, September 12th. Benchmark reiterated a “buy” rating and issued a $105.00 price objective on shares of Roku in a research report on Thursday, September 12th. Citigroup increased their price objective on Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Finally, Macquarie increased their price objective on Roku from $72.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $81.24.

Insider Buying and Selling

In related news, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total transaction of $75,330.00. Following the sale, the chief financial officer now owns 54,267 shares of the company’s stock, valued at approximately $4,087,933.11. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Roku news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total value of $75,330.00. Following the sale, the chief financial officer now owns 54,267 shares of the company’s stock, valued at $4,087,933.11. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total value of $109,012.27. Following the completion of the sale, the insider now directly owns 38,602 shares in the company, valued at $2,485,582.78. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,156 shares of company stock valued at $5,411,100. 13.98% of the stock is owned by company insiders.

Institutional Trading of Roku

Hedge funds and other institutional investors have recently modified their holdings of the company. Benjamin Edwards Inc. raised its stake in shares of Roku by 43.5% in the 1st quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock valued at $40,000 after purchasing an additional 187 shares during the period. Quarry LP increased its position in shares of Roku by 160.2% in the fourth quarter. Quarry LP now owns 432 shares of the company’s stock valued at $40,000 after acquiring an additional 266 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Roku by 123.4% in the second quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock valued at $40,000 after acquiring an additional 375 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of Roku in the third quarter valued at about $43,000. Finally, Geneos Wealth Management Inc. increased its position in shares of Roku by 835.6% in the first quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock valued at $45,000 after acquiring an additional 610 shares during the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

Roku Price Performance

The business has a 50-day moving average of $68.10 and a 200-day moving average of $62.37. The firm has a market cap of $11.30 billion, a price-to-earnings ratio of -19.64 and a beta of 2.08.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.21. The business had revenue of $968.18 million for the quarter, compared to the consensus estimate 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 in the previous year, the business earned ($0.76) earnings per share. As a group, equities analysts anticipate that Roku, Inc. will post -1.44 EPS for the current fiscal year.

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.