JMP Securities Issues Positive Forecast for Roku (NASDAQ:ROKU) Stock Price

Roku (NASDAQ:ROKU) had its price target hoisted by analysts at JMP Securities from $95.00 to $115.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. JMP Securities’ price target would suggest a potential upside of 15.03% from the company’s current price.

ROKU has been the topic of several other reports. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Roku in a research report on Tuesday, January 7th. Wedbush reiterated an “outperform” rating and set a $100.00 price target on shares of Roku in a report on Monday. Robert W. Baird raised Roku from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $70.00 to $90.00 in a research report on Monday, November 18th. Bank of America raised their price objective on Roku from $90.00 to $120.00 and gave the company a “buy” rating in a research report on Friday. Finally, Wells Fargo & Company raised Roku from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $74.00 to $129.00 in a report on Friday. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Roku presently has an average rating of “Moderate Buy” and an average target price of $91.27.

Roku Price Performance

ROKU stock traded up $13.17 during midday trading on Friday, hitting $99.97. The company’s stock had a trading volume of 12,873,628 shares, compared to its average volume of 3,488,987. The company’s fifty day moving average price is $80.17 and its 200 day moving average price is $73.28. Roku has a twelve month low of $48.33 and a twelve month high of $104.96. The stock has a market capitalization of $14.52 billion, a P/E ratio of -83.25 and a beta of 2.05.

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

Insider Buying and Selling at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $87.93, for a total transaction of $2,198,250.00. Following the sale, the chief executive officer now directly owns 26,538 shares in the company, valued at $2,333,486.34. This trade represents a 48.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charles Collier sold 10,771 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now owns 3,790 shares of the company’s stock, valued at approximately $269,620.60. This trade represents a 73.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 97,885 shares of company stock worth $7,911,162. 13.98% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ROKU. Geneos Wealth Management Inc. raised its position in shares of Roku by 369.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock worth $25,000 after acquiring an additional 270 shares during the last quarter. Vision Financial Markets LLC bought a new position in Roku during the 4th quarter worth approximately $30,000. Raelipskie Partnership acquired a new position in shares of Roku in the 3rd quarter worth approximately $32,000. Game Plan Financial Advisors LLC bought a new stake in shares of Roku in the 4th quarter valued at $37,000. Finally, Harvest Fund Management Co. Ltd increased its position in shares of Roku by 4,091.7% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company’s stock worth $37,000 after buying an additional 491 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.