JMP Securities Forecasts Strong Price Appreciation for Roku (NASDAQ:ROKU) Stock

Roku (NASDAQ:ROKU) had its target price lifted by analysts at JMP Securities from $95.00 to $115.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ target price indicates a potential upside of 15.03% from the company’s previous close.

Other analysts have also issued reports about the company. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $86.00 target price on shares of Roku in a research report on Thursday. UBS Group initiated coverage on Roku in a research report on Friday, November 22nd. They set a “neutral” rating and a $73.00 target price on the stock. Morgan Stanley increased their target price on Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a report on Tuesday, October 29th. Bank of America upped their price objective on shares of Roku from $90.00 to $120.00 and gave the stock a “buy” rating in a report on Friday. Finally, Jefferies Financial Group reduced their price objective on shares of Roku from $60.00 to $55.00 and set an “underperform” rating for the company in a report on Friday, November 1st. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Roku currently has an average rating of “Moderate Buy” and an average target price of $91.27.

Roku Stock Performance

Shares of Roku stock traded up $13.17 on Friday, reaching $99.97. 12,873,628 shares of the company’s stock were exchanged, compared to its average volume of 3,488,987. The company has a market capitalization of $14.52 billion, a P/E ratio of -83.25 and a beta of 2.05. Roku has a 52 week low of $48.33 and a 52 week high of $104.96. The firm’s 50-day moving average is $80.17 and its two-hundred day moving average is $73.28.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.20. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. On average, analysts expect that Roku will post -1.09 EPS for the current fiscal year.

Insider Buying and Selling at Roku

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $82.64, for a total transaction of $2,066,000.00. Following the completion of the transaction, the chief executive officer now owns 26,538 shares in the company, valued at $2,193,100.32. This trade represents a 48.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Matthew C. Banks sold 8,693 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $71.44, for a total transaction of $621,027.92. Following the completion of the sale, the chief accounting officer now directly owns 7,264 shares in the company, valued at approximately $518,940.16. This trade represents a 54.48 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 97,885 shares of company stock valued at $7,911,162. Company insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Several institutional investors have recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. boosted its stake in Roku by 10.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,269,751 shares of the company’s stock worth $168,734,000 after purchasing an additional 215,841 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Roku by 7.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 85,071 shares of the company’s stock valued at $6,325,000 after acquiring an additional 5,809 shares in the last quarter. Stifel Financial Corp increased its holdings in Roku by 6.4% during the 4th quarter. Stifel Financial Corp now owns 27,048 shares of the company’s stock worth $2,011,000 after acquiring an additional 1,632 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its stake in Roku by 278.0% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 28,041 shares of the company’s stock worth $2,085,000 after purchasing an additional 20,623 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in Roku by 663.9% in the 4th quarter. Marshall Wace LLP now owns 2,335,813 shares of the company’s stock valued at $173,644,000 after purchasing an additional 2,030,036 shares during the period. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Roku Company Profile

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.