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

Roku (NASDAQ:ROKU) had its price objective lifted by stock analysts at JPMorgan Chase & Co. from $92.00 to $115.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 15.26% from the company’s current price.

ROKU has been the subject of several other research reports. Baird R W raised shares of Roku from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. Wedbush reissued an “outperform” rating and set a $100.00 price target on shares of Roku in a research report on Monday. UBS Group initiated coverage on shares of Roku in a research report on Friday, November 22nd. They set a “neutral” rating and a $73.00 price target for the company. Wells Fargo & Company raised shares of Roku from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $74.00 to $129.00 in a research report on Friday. Finally, Citizens Jmp upgraded shares of Roku to a “strong-buy” rating in a report on Tuesday, January 21st. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $90.36.

Roku Stock Performance

Shares of Roku stock opened at $99.78 on Friday. Roku has a 52-week low of $48.33 and a 52-week high of $98.80. The stock has a market capitalization of $14.49 billion, a price-to-earnings ratio of -82.44 and a beta of 2.05. The company has a fifty day moving average of $80.17 and a 200-day moving average of $73.28.

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

Insider Buying and Selling

In other Roku news, insider Charles Collier sold 10,771 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $71.14, for a total transaction of $766,248.94. Following the completion of the sale, the insider now directly owns 3,790 shares in the company, valued at approximately $269,620.60. This trade represents a 73.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $82.64, for a total transaction of $2,066,000.00. Following the sale, the chief executive officer now owns 26,538 shares of the company’s stock, valued at approximately $2,193,100.32. This represents a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,885 shares of company stock worth $7,911,162 in the last three months. 13.98% of the stock is owned by corporate insiders.

Institutional Trading of Roku

A number of institutional investors and hedge funds have recently bought and sold shares of ROKU. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in shares of Roku by 43.3% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 13,739 shares of the company’s stock valued at $1,026,000 after acquiring an additional 4,151 shares during the last quarter. Cornerstone Wealth Management LLC purchased a new stake in shares of Roku during the 3rd quarter valued at about $212,000. Richard W. Paul & Associates LLC boosted its holdings in shares of Roku by 27.3% during the 3rd quarter. Richard W. Paul & Associates LLC now owns 15,820 shares of the company’s stock valued at $1,181,000 after acquiring an additional 3,395 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Roku by 227.7% during the 3rd quarter. Blue Trust Inc. now owns 8,494 shares of the company’s stock valued at $634,000 after acquiring an additional 5,902 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Roku by 11.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,207 shares of the company’s stock valued at $165,000 after acquiring an additional 222 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.