Roku (NASDAQ:ROKU) PT Raised to $92.00 at JPMorgan Chase & Co.

Roku (NASDAQ:ROKU) had its price target raised by investment analysts at JPMorgan Chase & Co. from $90.00 to $92.00 in a note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 17.39% from the stock’s previous close.

A number of other equities research analysts have also commented on ROKU. Wedbush reaffirmed an “outperform” rating and issued a $75.00 price objective on shares of Roku in a research note on Friday, August 2nd. Wolfe Research upgraded Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price target for the company in a report on Thursday, September 12th. Benchmark reissued a “buy” rating and issued a $105.00 price objective on shares of Roku in a research note on Thursday, September 12th. Wells Fargo & Company raised Roku from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $50.00 to $72.00 in a research note on Thursday, September 5th. Finally, Citigroup boosted their price target on Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $81.24.

Roku Stock Up 1.3 %

NASDAQ ROKU opened at $78.37 on Thursday. The company has a market capitalization of $11.34 billion, a price-to-earnings ratio of -22.59 and a beta of 2.08. Roku has a twelve month low of $48.33 and a twelve month high of $108.84. The stock has a fifty day simple moving average of $68.10 and a 200 day simple moving average of $62.38.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.21. The company 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 business’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.76) earnings per share. Research analysts expect that Roku will post -1.44 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $77.20, for a total transaction of $1,930,000.00. Following the sale, the chief executive officer now directly owns 5,020 shares in the company, valued at approximately $387,544. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Charles Collier sold 3,590 shares of the 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 completion of the transaction, the insider now owns 12,064 shares in the company, valued at approximately $784,160. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $77.20, for a total transaction of $1,930,000.00. Following the completion of the sale, the chief executive officer now directly owns 5,020 shares in the company, valued at approximately $387,544. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,156 shares of company stock valued at $5,411,100 over the last three months. Corporate insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

A number of hedge funds have recently modified their holdings of ROKU. Quarry LP increased its position in Roku by 160.2% in the fourth quarter. Quarry LP now owns 432 shares of the company’s stock worth $40,000 after buying an additional 266 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in Roku in the 3rd quarter worth about $43,000. Benjamin Edwards Inc. raised its stake in 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 acquiring an additional 187 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Roku by 123.4% during the second quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock valued at $40,000 after purchasing an additional 375 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in Roku by 835.6% during the first quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock worth $45,000 after purchasing an additional 610 shares during the period. Institutional investors own 86.30% of the company’s stock.

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.