Roku’s (ROKU) “Market Outperform” Rating Reiterated at JMP Securities

Roku (NASDAQ:ROKU)‘s stock had its “market outperform” rating reaffirmed by research analysts at JMP Securities in a research report issued on Tuesday,Benzinga reports. They currently have a $95.00 price objective on the stock. JMP Securities’ target price would indicate a potential upside of 16.55% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Citigroup dropped their price objective on Roku from $81.00 to $68.00 and set a “neutral” rating on the stock in a report on Tuesday, May 6th. Loop Capital upgraded shares of Roku from a “hold” rating to a “buy” rating and lifted their price target for the stock from $80.00 to $100.00 in a research note on Tuesday. JPMorgan Chase & Co. increased their price objective on shares of Roku from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, June 3rd. Jefferies Financial Group raised shares of Roku from an “underperform” rating to a “hold” rating and increased their price target for the stock from $55.00 to $100.00 in a research report on Thursday, February 20th. Finally, UBS Group lowered their price objective on Roku from $90.00 to $72.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Roku currently has a consensus rating of “Moderate Buy” and an average price target of $89.24.

Roku Stock Performance

ROKU traded down $0.66 on Tuesday, reaching $81.51. 3,108,923 shares of the company’s stock were exchanged, compared to its average volume of 3,848,382. Roku has a twelve month low of $48.33 and a twelve month high of $104.96. The company’s 50 day moving average is $67.99 and its 200-day moving average is $74.97. The company has a market cap of $11.90 billion, a price-to-earnings ratio of -91.67 and a beta of 2.09.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.08. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.35) earnings per share. Sell-side analysts forecast that Roku will post -0.3 EPS for the current year.

Insider Activity

In other news, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $75,000.00. Following the sale, the chief financial officer now owns 68,843 shares in the company, valued at $5,163,225. The trade was a 1.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Anthony J. Wood sold 4,600 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $345,000.00. Following the sale, the chief executive officer now directly owns 6,243 shares in the company, valued at approximately $468,225. This trade represents a 42.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,737 shares of company stock valued at $4,987,114 over the last three months. Insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Institutional investors have recently bought and sold shares of the business. Jacobs Levy Equity Management Inc. lifted its position in Roku by 505.3% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,296,774 shares of the company’s stock worth $96,402,000 after buying an additional 1,082,548 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Roku by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company’s stock worth $159,353,000 after acquiring an additional 56,820 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Roku by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 990,867 shares of the company’s stock valued at $73,661,000 after purchasing an additional 34,898 shares during the last quarter. Achmea Investment Management B.V. grew its stake in Roku by 146.4% in the fourth quarter. Achmea Investment Management B.V. now owns 10,168 shares of the company’s stock valued at $756,000 after purchasing an additional 6,042 shares in the last quarter. Finally, J. Goldman & Co LP increased its position in Roku by 973.1% in the 4th quarter. J. Goldman & Co LP now owns 354,326 shares of the company’s stock worth $26,341,000 after purchasing an additional 321,307 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors and hedge funds.

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.