Roku (NASDAQ:ROKU) Trading 1.5% Higher Following Analyst Upgrade

by · The Cerbat Gem

Shares of Roku, Inc. (NASDAQ:ROKU – Get Free Report) were up 1.5% 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. Approximately 3,851,547 shares traded hands during mid-day trading, an increase of 3% from the average daily volume of 3,737,214 shares. The stock had previously closed at $107.47.

ROKU has been the subject of a number of other reports. Wells Fargo & Company lifted their target price on Roku from $113.00 to $116.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Pivotal Research boosted their price objective on Roku from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. JMP Securities reaffirmed a “market outperform” rating and issued a $145.00 target price on shares of Roku in a research report on Thursday, October 2nd. Evercore ISI reiterated a “positive” rating on shares of Roku in a research note on Friday, October 31st. Finally, Susquehanna restated a “positive” rating and issued a $130.00 price target on shares of Roku in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Roku has a consensus rating of “Moderate Buy” and a consensus price target of $116.09.

View Our Latest Report on Roku

Insider Activity

In other news, insider Charles Collier sold 118,088 shares of Roku stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $115.00, for a total value of $13,580,120.00. Following the transaction, the insider owned 200 shares of the company’s stock, valued at $23,000. The trade was a 99.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Anthony J. Wood sold 50,000 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $103.86, for a total transaction of $5,193,000.00. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 487,668 shares of company stock valued at $51,665,126. Insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Banque Transatlantique SA purchased a new position in shares of Roku in the first quarter worth approximately $28,000. Beaird Harris Wealth Management LLC acquired a new stake in shares of Roku during the 1st quarter valued at about $30,000. Westfuller Advisors LLC acquired a new stake in Roku in the third quarter valued at approximately $30,000. Root Financial Partners LLC bought a new stake in Roku in the third quarter worth approximately $33,000. Finally, Rakuten Securities Inc. increased its stake in shares of Roku by 55.6% during the 2nd quarter. Rakuten Securities Inc. now owns 442 shares of the company’s stock worth $39,000 after purchasing an additional 158 shares during the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

Roku Trading Up 1.5%

The business’s fifty day moving average price is $99.18 and its two-hundred day moving average price is $92.83. The firm has a market cap of $16.11 billion, a P/E ratio of -545.12 and a beta of 1.98.

Roku (NASDAQ:ROKU – Get Free Report) last posted its earnings results on Thursday, October 30th. The company reported $0.16 EPS 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 the consensus estimate of $1.21 billion. During the same period in the prior year, the business posted ($0.06) earnings per share. The business’s quarterly revenue was up 14.0% on a year-over-year basis. Research analysts predict that Roku, Inc. will post -0.3 EPS for the current fiscal year.

About Roku

(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.

Recommended Stories