Roku (NASDAQ:ROKU) Given New $90.00 Price Target at JPMorgan Chase & Co.

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

Several other analysts have also commented on the company. Guggenheim raised Roku from a neutral rating to a buy rating and set a $75.00 target price on the stock in a report on Friday, August 23rd. Needham & Company LLC reaffirmed a buy rating and set a $100.00 target price on shares of Roku in a report on Friday, September 13th. Wolfe Research raised Roku from a peer perform rating to an outperform rating and set a $93.00 price objective on the stock in a report on Thursday, September 12th. Wedbush reissued an outperform rating and issued a $75.00 price objective on shares of Roku in a report on Friday, August 2nd. Finally, Macquarie lowered their price target 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 equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Roku has an average rating of Hold and a consensus price target of $78.75.

Roku Price Performance

Shares of ROKU stock opened at $76.02 on Wednesday. The stock’s 50-day moving average is $63.33 and its 200 day moving average is $61.15. Roku has a 1-year low of $48.33 and a 1-year high of $108.84. The company has a market cap of $11.00 billion, a P/E ratio of -19.05 and a beta of 2.06.

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, topping the consensus estimate of ($0.45) by $0.21. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The firm had revenue of $968.18 million during the quarter, compared to analysts’ expectations of $937.78 million. During the same period last year, the business posted ($0.76) earnings per share. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, analysts anticipate that Roku will post -1.45 EPS for the current year.

Insider Buying and Selling at Roku

In other Roku news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total value of $75,330.00. Following the sale, the chief financial officer now owns 54,267 shares in the company, valued at $4,087,933.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Charles Collier sold 15,454 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total value of $1,159,050.00. Following the sale, the insider now owns 200 shares in the company, valued at approximately $15,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total value of $75,330.00. Following the completion of the sale, the chief financial officer now owns 54,267 shares in the company, valued at approximately $4,087,933.11. The disclosure for this sale can be found here. Insiders have sold 46,945 shares of company stock worth $3,465,135 over the last quarter. 13.98% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Roku

Institutional investors and hedge funds have recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Roku by 24.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock worth $478,939,000 after purchasing an additional 1,457,925 shares in the last quarter. Nikko Asset Management Americas Inc. grew its stake in Roku by 25.8% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock worth $462,108,000 after purchasing an additional 1,455,408 shares in the last quarter. Norges Bank acquired a new position in Roku during the 4th quarter worth $90,386,000. Quadrature Capital Ltd acquired a new position in Roku during the 4th quarter worth $35,856,000. Finally, Vanguard Group Inc. grew its stake in Roku by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 11,853,947 shares of the company’s stock worth $1,086,533,000 after purchasing an additional 380,409 shares in the last quarter. Hedge funds and other 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.