Roku (NASDAQ:ROKU) Now Covered by Analysts at JMP Securities

JMP Securities initiated coverage on shares of Roku (NASDAQ:ROKU) in a research note published on Tuesday morning, MarketBeat reports. The brokerage issued a mkt outperform rating and a $95.00 price target on the stock.

ROKU has been the subject of several other research reports. Baird R W upgraded shares of Roku from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. Citigroup upped their price objective on shares of Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Wedbush restated an “outperform” rating and issued a $100.00 target price on shares of Roku in a research note on Wednesday, January 8th. Piper Sandler upped their price target on Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of Roku in a research note on Tuesday, January 7th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $83.18.

Roku Stock Up 5.1 %

ROKU stock opened at $79.74 on Tuesday. The firm has a market cap of $11.58 billion, a price-to-earnings ratio of -66.45 and a beta of 2.05. The company’s fifty day simple moving average is $76.72 and its 200 day simple moving average is $70.88. Roku has a 12-month low of $48.33 and a 12-month high of $99.80.

Roku (NASDAQ:ROKU) last announced its earnings results on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.29. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($2.33) EPS. Research analysts expect that Roku will post -1.09 earnings per share for the current year.

Insider Buying and Selling at Roku

In related news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $77.18, for a total value of $77,180.00. Following the sale, the chief financial officer now owns 63,555 shares of the company’s stock, valued at approximately $4,905,174.90. The trade was a 1.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Matthew C. Banks sold 8,693 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $71.44, for a total value of $621,027.92. Following the transaction, the chief accounting officer now directly owns 7,264 shares of the company’s stock, valued at approximately $518,940.16. This trade represents a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 73,095 shares of company stock worth $5,726,218 in the last quarter. 13.98% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Holocene Advisors LP bought a new stake in Roku in the 3rd quarter valued at about $129,015,000. Westfield Capital Management Co. LP increased its stake in shares of Roku by 126.1% in the third quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock worth $114,646,000 after purchasing an additional 856,401 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of Roku by 352.5% in the third quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock valued at $48,653,000 after purchasing an additional 507,643 shares during the period. JAT Capital Mgmt LP lifted its stake in shares of Roku by 470.2% during the 3rd quarter. JAT Capital Mgmt LP now owns 540,577 shares of the company’s stock valued at $40,359,000 after buying an additional 445,777 shares in the last quarter. Finally, FMR LLC grew its stake in Roku by 1.7% in the 3rd quarter. FMR LLC now owns 14,570,372 shares of the company’s stock valued at $1,087,824,000 after buying an additional 244,793 shares in the last quarter. 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.