Roku (NASDAQ:ROKU) Trading 2.5% Higher on Analyst Upgrade

Roku, Inc. (NASDAQ:ROKU)’s share price traded up 2.5% on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $80.00 to $90.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Roku traded as high as $77.42 and last traded at $76.50. 1,278,378 shares were traded during mid-day trading, a decline of 72% from the average session volume of 4,567,084 shares. The stock had previously closed at $74.67.

Other equities research analysts also recently issued research reports about the company. 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 restated an “outperform” rating and set a $75.00 price target on shares of Roku in a report on Friday, August 2nd. Bank of America lowered their price objective on Roku from $85.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Guggenheim upgraded shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Friday, August 23rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of Roku in a research report on Friday, September 13th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $78.75.

Insider Activity at Roku

In other news, insider Charles Collier sold 3,590 shares of Roku stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $65.00, for a total value of $233,350.00. Following the completion of the sale, the insider now owns 12,064 shares in the company, valued at approximately $784,160. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Charles Collier sold 3,590 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total value of $233,350.00. Following the completion of the sale, the insider now directly owns 12,064 shares of the company’s stock, valued at approximately $784,160. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gilbert Fuchsberg sold 1,693 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 38,602 shares in the company, valued at $2,485,582.78. The disclosure for this sale can be found here. Insiders have sold a total of 46,945 shares of company stock worth $3,465,135 in the last 90 days. Corporate insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Several hedge funds have recently bought and sold shares of ROKU. Quarry LP lifted its stake in shares of Roku by 160.2% in the fourth quarter. Quarry LP now owns 432 shares of the company’s stock valued at $40,000 after buying an additional 266 shares in the last quarter. Benjamin Edwards Inc. raised its holdings 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 acquiring an additional 187 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Roku by 123.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock valued at $40,000 after acquiring an additional 375 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in Roku by 835.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock valued at $45,000 after purchasing an additional 610 shares during the last quarter. Finally, Cedar Wealth Management LLC acquired a new position in Roku during the 2nd quarter valued at about $48,000. Institutional investors and hedge funds own 86.30% of the company’s stock.

Roku Trading Up 0.1 %

The business has a fifty day simple moving average of $63.03 and a 200 day simple moving average of $61.07. The stock has a market capitalization of $11.17 billion, a P/E ratio of -19.41 and a beta of 2.06.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) earnings per share for the quarter, beating 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 business had revenue of $968.18 million for the quarter, compared to analysts’ expectations of $937.78 million. During the same period last year, the business earned ($0.76) EPS. The business’s revenue was up 14.3% on a year-over-year basis. As a group, research analysts forecast that Roku, Inc. will post -1.45 earnings per share for the current year.

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.