Roku (NASDAQ:ROKU) Price Target Raised to $90.00

Roku (NASDAQ:ROKU) had its price objective lifted by JPMorgan Chase & Co. from $80.00 to $90.00 in a research report released on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research analysts also recently weighed in on ROKU. Wolfe Research raised shares of Roku from a peer perform rating to an outperform rating and set a $93.00 target price for the company in a research report on Thursday, September 12th. Rosenblatt Securities decreased their target price on Roku from $89.00 to $61.00 and set a neutral rating for the company in a research report on Friday, August 2nd. Benchmark restated a buy rating and issued a $105.00 target price on shares of Roku in a research note on Thursday, September 12th. Bank of America cut their price target on Roku from $85.00 to $75.00 and set a buy rating for the company in a research note on Friday, August 2nd. Finally, Macquarie lowered their price objective on Roku from $88.00 to $72.00 and set an outperform rating on the stock in a research note on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Roku has a consensus rating of Hold and an average target price of $78.75.

Roku Stock Down 1.8 %

Shares of NASDAQ ROKU opened at $76.02 on Wednesday. The company has a market capitalization of $11.00 billion, a PE ratio of -19.05 and a beta of 2.06. The stock’s 50 day moving average price is $63.33 and its 200-day moving average price is $61.16. Roku has a twelve month low of $48.33 and a twelve month high of $108.84.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data 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 firm had revenue of $968.18 million during 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%. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.76) EPS. As a group, research analysts expect that Roku will post -1.45 EPS for the current fiscal year.

Insider Buying and Selling

In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total transaction 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. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total transaction of $109,012.27. Following the sale, the insider now owns 38,602 shares in the company, valued at $2,485,582.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Dan Jedda sold 1,000 shares of the company’s 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 completion of the transaction, the chief financial officer now owns 54,267 shares of the company’s stock, valued at $4,087,933.11. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,945 shares of company stock worth $3,465,135. Insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

A number of hedge funds have recently made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Roku in the second quarter worth $1,378,000. Granite Bay Wealth Management LLC purchased a new position in shares of Roku in the second quarter worth about $1,142,000. Quarry LP lifted its stake in shares of Roku by 127.9% in the 2nd quarter. Quarry LP now owns 1,682 shares of the company’s stock valued at $101,000 after acquiring an additional 944 shares during the last quarter. Algert Global LLC boosted its holdings in Roku by 144.4% during the 2nd quarter. Algert Global LLC now owns 55,177 shares of the company’s stock valued at $3,307,000 after acquiring an additional 32,603 shares during the period. Finally, Empirical Capital Management LLC grew its position in Roku by 10.0% during the 2nd quarter. Empirical Capital Management LLC now owns 177,000 shares of the company’s stock worth $10,608,000 after acquiring an additional 16,031 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors.

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.