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

Roku (NASDAQ:ROKU) had its target price boosted by equities researchers at JMP Securities from $95.00 to $115.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. JMP Securities’ price objective would suggest a potential upside of 16.08% from the stock’s previous close.

A number of other research firms have also issued reports on ROKU. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of Roku in a report on Tuesday, January 7th. Moffett Nathanson downgraded shares of Roku from a “neutral” rating to a “sell” rating and set a $55.00 target price on the stock. in a report on Friday, January 10th. Pivotal Research upgraded shares of Roku from a “hold” rating to a “buy” rating and raised their target price for the stock from $65.00 to $125.00 in a report on Friday. Loop Capital upped their price target on Roku from $70.00 to $80.00 and gave the company a “hold” rating in a report on Monday, December 9th. Finally, Morgan Stanley raised their price objective on Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 29th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $93.18.

Roku Trading Up 14.1 %

Shares of NASDAQ:ROKU opened at $99.07 on Friday. The company has a 50 day moving average of $80.56 and a 200-day moving average of $73.76. The firm has a market cap of $14.38 billion, a P/E ratio of -82.56 and a beta of 2.05. Roku has a twelve month low of $48.33 and a twelve month high of $104.96.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.20. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.15 billion. Equities research analysts forecast that Roku will post -1.09 EPS for the current year.

Insiders Place Their Bets

In related news, insider Charles Collier sold 10,771 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $71.14, for a total value of $766,248.94. Following the completion of the transaction, the insider now directly owns 3,790 shares of the company’s stock, valued at $269,620.60. This trade represents a 73.97 % 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 hyperlink. Also, CAO Matthew C. Banks sold 8,693 shares of Roku stock in a transaction on Monday, November 18th. The stock was sold at an average price of $71.44, for a total transaction of $621,027.92. Following the sale, the chief accounting officer now owns 7,264 shares in the company, valued at $518,940.16. This represents a 54.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,885 shares of company stock worth $7,911,162 in the last ninety days. 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 made changes to their positions in the business. Farther Finance Advisors LLC raised its position in Roku by 23.9% in the fourth quarter. Farther Finance Advisors LLC now owns 627 shares of the company’s stock worth $47,000 after purchasing an additional 121 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Roku by 0.5% in the 4th quarter. Cerity Partners LLC now owns 26,679 shares of the company’s stock valued at $1,984,000 after purchasing an additional 145 shares during the period. GS Investments Inc. raised its holdings in shares of Roku by 33.4% in the 3rd quarter. GS Investments Inc. now owns 587 shares of the company’s stock worth $44,000 after buying an additional 147 shares in the last quarter. PFG Investments LLC lifted its position in shares of Roku by 3.7% during the 3rd quarter. PFG Investments LLC now owns 4,157 shares of the company’s stock worth $310,000 after buying an additional 150 shares during the period. Finally, True Vision MN LLC lifted its position in shares of Roku by 3.1% during the 3rd quarter. True Vision MN LLC now owns 5,018 shares of the company’s stock worth $375,000 after buying an additional 152 shares during the period. 86.30% of the stock is owned by institutional investors.

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.