JMP Securities Reiterates Market Outperform Rating for Roku (NASDAQ:ROKU)

Roku (NASDAQ:ROKU - Get Free Report)'s stock had its "market outperform" rating restated by JMP Securities in a note issued to investors on Thursday,Benzinga reports. They presently have a $95.00 target price on the stock. JMP Securities' price target suggests a potential upside of 48.10% from the company's previous close.

A number of other brokerages have also issued reports on ROKU. Citigroup restated an "outperform" rating on shares of Roku in a research note on Thursday. Wells Fargo & Company raised Roku from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $74.00 to $129.00 in a report on Friday, February 14th. Redburn Atlantic raised shares of Roku from a "neutral" rating to a "buy" rating and set a $100.00 price target for the company in a research report on Monday, April 7th. Wedbush restated an "outperform" rating and set a $100.00 target price on shares of Roku in a research report on Monday, February 10th. Finally, Bank of America initiated coverage on shares of Roku in a research report on Thursday, March 27th. They issued a "buy" rating and a $100.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $91.50.

Roku Stock Performance

ROKU traded up $1.57 during trading on Thursday, hitting $64.15. The stock had a trading volume of 597,702 shares, compared to its average volume of 3,783,819. The stock has a 50 day simple moving average of $72.28 and a two-hundred day simple moving average of $75.72. The company has a market capitalization of $9.36 billion, a PE ratio of -72.14 and a beta of 2.17. Roku has a twelve month low of $48.33 and a twelve month high of $104.96.

Roku (NASDAQ:ROKU - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.20. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.15 billion. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. On average, equities research analysts anticipate that Roku will post -0.3 EPS for the current year.

Insider Buying and Selling at Roku

In other news, CFO Dan Jedda sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $75,000.00. Following the transaction, the chief financial officer now directly owns 68,843 shares in the company, valued at approximately $5,163,225. This represents a 1.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the business's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $100.40, for a total value of $2,510,000.00. Following the completion of the sale, the chief executive officer now directly owns 26,538 shares in the company, valued at approximately $2,664,415.20. The trade was a 48.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,905 shares of company stock worth $6,560,876 over the last quarter. 13.98% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Roku

A number of hedge funds and other institutional investors have recently bought and sold shares of ROKU. FMR LLC increased its stake in Roku by 31.7% during the fourth quarter. FMR LLC now owns 19,183,942 shares of the company's stock worth $1,426,134,000 after purchasing an additional 4,613,570 shares during the period. Vanguard Group Inc. increased its stake in Roku by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 12,249,091 shares of the company's stock worth $910,597,000 after buying an additional 185,676 shares during the period. Marshall Wace LLP lifted its holdings in Roku by 663.9% during the 4th quarter. Marshall Wace LLP now owns 2,335,813 shares of the company's stock worth $173,644,000 after buying an additional 2,030,036 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in Roku by 10.5% during 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 buying an additional 215,841 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Roku by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company's stock valued at $159,353,000 after buying an additional 56,820 shares during the period. 86.30% of the stock is currently owned by hedge funds and other 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.

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