Roku (NASDAQ:ROKU) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Roku (NASDAQ:ROKU) had its target price boosted by JPMorgan Chase & Co. from $92.00 to $115.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 16.08% from the stock’s previous close.

Several other equities analysts also recently weighed in on ROKU. Pivotal Research raised Roku from a “hold” rating to a “buy” rating and raised their price objective for the company from $65.00 to $125.00 in a research note on Friday. Loop Capital raised their price target on Roku from $70.00 to $80.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Piper Sandler boosted their price objective on shares of Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Robert W. Baird upgraded shares of Roku from a “neutral” rating to an “outperform” rating and raised their target price for the company from $70.00 to $90.00 in a report on Monday, November 18th. Finally, Baird R W upgraded shares of Roku from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. 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 issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $93.18.

Roku Stock Up 14.1 %

NASDAQ:ROKU opened at $99.07 on Friday. The firm’s fifty day simple moving average is $80.56 and its 200-day simple moving average is $73.76. The stock has a market cap of $14.38 billion, a PE ratio of -82.56 and a beta of 2.05. Roku has a fifty-two week low of $48.33 and a fifty-two week high of $104.96.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.20. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.15 billion. Equities analysts anticipate that Roku will post -1.09 earnings per share for the current year.

Insider Buying and Selling at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $82.64, for a total value of $2,066,000.00. Following the transaction, the chief executive officer now owns 26,538 shares in the company, valued at approximately $2,193,100.32. This trade represents a 48.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Charles Collier sold 10,771 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $71.14, for a total transaction of $766,248.94. Following the sale, the insider now owns 3,790 shares of the company’s stock, valued at approximately $269,620.60. This represents a 73.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,885 shares of company stock worth $7,911,162 in the last quarter. 13.98% of the stock is owned by insiders.

Hedge Funds Weigh In On Roku

Hedge funds have recently made changes to their positions in the business. FMR LLC boosted its position in Roku by 31.7% during the 4th quarter. FMR LLC now owns 19,183,942 shares of the company’s stock worth $1,426,134,000 after purchasing an additional 4,613,570 shares during the period. Marshall Wace LLP boosted its position in shares of Roku by 663.9% in the fourth quarter. Marshall Wace LLP now owns 2,335,813 shares of the company’s stock worth $173,644,000 after buying an additional 2,030,036 shares during the period. Holocene Advisors LP acquired a new stake in shares of Roku in the third quarter valued at about $129,015,000. Westfield Capital Management Co. LP raised its holdings in shares of Roku by 126.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock valued at $114,646,000 after buying an additional 856,401 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC lifted its position in Roku by 214.1% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 864,974 shares of the company’s stock worth $64,302,000 after acquiring an additional 589,610 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.