Roku (NASDAQ:ROKU) Stock Price Up 0.8% Following Analyst Upgrade

by · The Markets Daily

Roku, Inc. (NASDAQ:ROKU – Get Free Report) shot up 0.8% on Friday after JPMorgan Chase & Co. raised their price target on the stock from $90.00 to $92.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Roku traded as high as $78.22 and last traded at $78.01. 290,263 shares were traded during mid-day trading, a decline of 93% from the average session volume of 4,424,164 shares. The stock had previously closed at $77.37.

Other equities analysts have also recently issued research reports about the stock. Citigroup boosted their price objective on shares of Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of Roku in a research report on Friday, September 13th. Bank of America upped their target price on Roku from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Guggenheim upgraded Roku from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Friday, August 23rd. Finally, Rosenblatt Securities decreased their price objective on shares of Roku from $89.00 to $61.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $81.24.

Read Our Latest Research Report on ROKU

Insider Buying and Selling

In other news, insider Gilbert Fuchsberg sold 1,693 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total transaction of $109,012.27. Following the completion of the transaction, the insider now directly owns 38,602 shares in the company, valued at $2,485,582.78. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total value of $109,012.27. Following the completion of the sale, the insider now owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Dan Jedda sold 1,000 shares of the business’s 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 completion of the transaction, the chief financial officer now owns 54,267 shares of the company’s stock, valued at $4,087,933.11. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,156 shares of company stock worth $3,481,100 in the last 90 days. Insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Large investors have recently made changes to their positions in the stock. Mcdonald Partners LLC boosted its holdings in Roku by 0.9% in the second quarter. Mcdonald Partners LLC now owns 19,608 shares of the company’s stock worth $1,175,000 after purchasing an additional 175 shares during the last quarter. Benjamin Edwards Inc. boosted its stake in shares of Roku by 43.5% in the 1st quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock worth $40,000 after buying an additional 187 shares during the last quarter. Beacon Capital Management LLC grew its holdings in shares of Roku by 17.7% in the first quarter. Beacon Capital Management LLC now owns 1,547 shares of the company’s stock worth $101,000 after acquiring an additional 233 shares during the period. Arizona State Retirement System increased its position in Roku by 0.7% during the second quarter. Arizona State Retirement System now owns 34,656 shares of the company’s stock valued at $2,077,000 after acquiring an additional 251 shares during the last quarter. Finally, Quarry LP lifted its holdings in Roku by 160.2% in the fourth quarter. Quarry LP now owns 432 shares of the company’s stock valued at $40,000 after acquiring an additional 266 shares during the period. 86.30% of the stock is currently owned by institutional investors.

Roku Price Performance

The firm has a 50-day simple moving average of $67.59 and a 200-day simple moving average of $62.29. The firm has a market capitalization of $11.25 billion, a PE ratio of -22.48 and a beta of 2.08.

Roku (NASDAQ:ROKU – Get Free Report) last announced its earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.21. The company had revenue of $968.18 million during the quarter, compared to analyst estimates of $937.78 million. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.76) earnings per share. Equities analysts expect that Roku, Inc. will post -1.44 earnings per share for the current year.

Roku Company Profile

(Get Free Report)

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.

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