JPMorgan Chase & Co. Issues Positive Forecast for Roku (NASDAQ:ROKU) Stock Price

Roku (NASDAQ:ROKU) had its price target hoisted by JPMorgan Chase & Co. from $92.00 to $115.00 in a research report report published on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other equities research analysts also recently issued research reports about the company. Robert W. Baird raised Roku from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $70.00 to $90.00 in a report on Monday, November 18th. Loop Capital raised their price target on Roku from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. Wedbush restated an “outperform” rating and issued a $100.00 price target on shares of Roku in a research report on Monday, February 10th. Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of Roku in a research report on Tuesday, January 7th. Finally, UBS Group assumed coverage on Roku in a research report on Friday, November 22nd. They issued a “neutral” rating and a $73.00 price target on the stock. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $93.18.

Roku Price Performance

ROKU opened at $99.07 on Friday. Roku has a fifty-two week low of $48.33 and a fifty-two week high of $104.96. The stock has a fifty day moving average of $80.56 and a 200-day moving average of $73.65.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.20. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. On average, equities research analysts predict that Roku will post -1.09 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $77.18, for a total transaction of $77,180.00. Following the sale, the chief financial officer now directly owns 63,555 shares of the company’s stock, valued at approximately $4,905,174.90. This trade represents a 1.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $82.64, for a total value of $2,066,000.00. Following the sale, the chief executive officer now directly owns 26,538 shares in the company, valued at $2,193,100.32. The trade was a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,885 shares of company stock valued at $7,911,162. 13.98% of the stock is currently owned by corporate insiders.

Institutional Trading of Roku

Hedge funds have recently made changes to their positions in the company. Itau Unibanco Holding S.A. lifted its stake in shares of Roku by 95.5% in the fourth quarter. Itau Unibanco Holding S.A. now owns 569 shares of the company’s stock worth $42,000 after acquiring an additional 278 shares during the period. Comerica Bank lifted its stake in shares of Roku by 19.3% in the fourth quarter. Comerica Bank now owns 291,855 shares of the company’s stock worth $21,696,000 after acquiring an additional 47,233 shares during the period. AQR Capital Management LLC lifted its stake in shares of Roku by 55.9% in the fourth quarter. AQR Capital Management LLC now owns 95,022 shares of the company’s stock worth $7,064,000 after acquiring an additional 34,073 shares during the period. Lido Advisors LLC lifted its stake in shares of Roku by 108.1% in the fourth quarter. Lido Advisors LLC now owns 63,742 shares of the company’s stock worth $4,739,000 after acquiring an additional 33,110 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Roku by 25.4% in the fourth quarter. Northern Trust Corp now owns 712,836 shares of the company’s stock worth $52,992,000 after acquiring an additional 144,479 shares during the period. 86.30% of the stock is owned by institutional investors and hedge funds.

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.