Roku (NASDAQ:ROKU) Shares Up 1.5% on Analyst Upgrade

Roku, Inc. (NASDAQ:ROKU)’s stock price traded up 1.5% during trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $115.00 to $125.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Roku traded as high as $110.11 and last traded at $109.03. 3,851,547 shares traded hands during mid-day trading, an increase of 3% from the average session volume of 3,737,214 shares. The stock had previously closed at $107.47.

Several other equities research analysts also recently issued reports on ROKU. JMP Securities reaffirmed a “market outperform” rating and issued a $145.00 price target on shares of Roku in a research report on Thursday, October 2nd. Morgan Stanley reaffirmed an “underweight” rating on shares of Roku in a report on Friday, October 31st. Piper Sandler raised Roku from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $88.00 to $135.00 in a research report on Monday, November 3rd. Guggenheim increased their price objective on Roku from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, December 4th. Finally, Rosenblatt Securities boosted their target price on shares of Roku from $101.00 to $106.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $116.09.

Insider Activity

In other Roku news, insider Charles Collier sold 14,361 shares of the business’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $94.99, for a total value of $1,364,151.39. Following the sale, the insider owned 200 shares of the company’s stock, valued at $18,998. The trade was a 98.63% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $110.32, for a total transaction of $2,758,000.00. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 487,668 shares of company stock valued at $51,665,126. 13.98% of the stock is owned by insiders.

Institutional Investors Weigh In On Roku

Large investors have recently modified their holdings of the stock. Westfuller Advisors LLC bought a new position in shares of Roku during the 3rd quarter worth approximately $30,000. Root Financial Partners LLC bought a new position in shares of Roku during the third quarter valued at $33,000. Cornerstone Planning Group LLC boosted its stake in shares of Roku by 20,450.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 411 shares of the company’s stock valued at $41,000 after purchasing an additional 409 shares in the last quarter. Beaird Harris Wealth Management LLC acquired a new stake in shares of Roku in the 1st quarter valued at $30,000. Finally, Banque Transatlantique SA bought a new stake in shares of Roku in the 1st quarter worth about $28,000. 86.30% of the stock is currently owned by institutional investors.

Roku Stock Performance

The firm has a market cap of $16.11 billion, a price-to-earnings ratio of -545.12 and a beta of 1.98. The business’s 50-day moving average is $99.18 and its 200-day moving average is $92.83.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.09. Roku had a negative net margin of 0.61% and a negative return on equity of 1.08%. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the prior year, the firm earned ($0.06) earnings per share. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. Equities research analysts expect that Roku, Inc. will post -0.3 EPS for the current fiscal 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.