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

Roku (NASDAQ:ROKU)‘s stock had its “market outperform” rating restated by stock analysts at JMP Securities in a research note issued to investors on Monday,Benzinga reports. They presently have a $95.00 price target on the stock. JMP Securities’ target price suggests a potential upside of 30.19% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Needham & Company LLC reissued a “buy” rating and issued a $88.50 price objective on shares of Roku in a research note on Monday, May 12th. JPMorgan Chase & Co. reduced their price objective on Roku from $115.00 to $75.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Pivotal Research reduced their price objective on Roku from $125.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Guggenheim restated a “buy” rating and issued a $100.00 target price on shares of Roku in a report on Friday, May 2nd. Finally, Evercore ISI dropped their target price on Roku from $105.00 to $80.00 and set an “in-line” rating for the company in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $88.37.

Roku Trading Down 0.1%

Shares of NASDAQ:ROKU opened at $72.97 on Monday. Roku has a 12-month low of $48.33 and a 12-month high of $104.96. The company has a market capitalization of $10.65 billion, a PE ratio of -81.99 and a beta of 2.06. The business has a 50 day moving average of $65.35 and a two-hundred day moving average of $74.41.

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.08. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The business’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.35) EPS. Equities research analysts predict that Roku will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Roku

In other news, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $75,000.00. Following the completion of the transaction, the chief financial officer now directly owns 68,843 shares of the company’s stock, valued at approximately $5,163,225. The trade was a 1.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the transaction, the chief executive officer now directly owns 6,243 shares of the company’s stock, valued at approximately $468,225. This represents a 80.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,013 shares of company stock valued at $2,324,135 in the last three months. 13.98% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Roku

Several institutional investors have recently added to or reduced their stakes in the business. Anderson Financial Strategies LLC purchased a new stake in Roku during the first quarter worth approximately $68,000. Strs Ohio purchased a new stake in Roku during the first quarter worth approximately $3,984,000. Acadian Asset Management LLC lifted its stake in Roku by 456.7% during the first quarter. Acadian Asset Management LLC now owns 1,905,779 shares of the company’s stock worth $134,222,000 after purchasing an additional 1,563,449 shares during the last quarter. Focus Partners Wealth purchased a new stake in Roku during the first quarter worth approximately $229,000. Finally, Plato Investment Management Ltd lifted its stake in Roku by 217.4% in the first quarter. Plato Investment Management Ltd now owns 9,663 shares of the company’s stock valued at $688,000 after buying an additional 6,619 shares during the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

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.