Roku (NASDAQ:ROKU) Price Target Lowered to $75.00 at JPMorgan Chase & Co.

Roku (NASDAQ:ROKU) had its target price dropped by equities researchers at JPMorgan Chase & Co. from $115.00 to $75.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 25.82% from the company’s previous close.

Other analysts also recently issued reports about the stock. Piper Sandler initiated coverage on shares of Roku in a report on Thursday, April 17th. They issued a “neutral” rating and a $65.00 price objective on the stock. Wedbush reaffirmed an “outperform” rating and issued a $100.00 price target on shares of Roku in a report on Monday, February 10th. JMP Securities lifted their price objective on Roku from $95.00 to $115.00 and gave the company a “market outperform” rating in a research note on Friday, February 14th. Wells Fargo & Company raised Roku from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $74.00 to $129.00 in a report on Friday, February 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $88.50 price objective on shares of Roku in a research note on Monday, April 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.37.

Roku Stock Performance

Shares of NASDAQ ROKU traded up $0.44 during mid-day trading on Tuesday, hitting $59.61. The stock had a trading volume of 569,032 shares, compared to its average volume of 3,790,850. The firm has a market cap of $8.70 billion, a PE ratio of -66.98 and a beta of 2.17. The company has a 50 day moving average of $73.56 and a two-hundred day moving average of $75.92. Roku has a twelve month low of $48.33 and a twelve month high of $104.96.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.20. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.15 billion. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. Equities research analysts predict that Roku will post -0.3 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 company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $87.93, for a total value of $2,198,250.00. Following the completion of the sale, the chief executive officer now directly owns 26,538 shares in the company, valued at $2,333,486.34. This represents a 48.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Dan Jedda sold 5,000 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $100.40, for a total transaction of $502,000.00. Following the transaction, the chief financial officer now directly owns 58,555 shares in the company, valued at approximately $5,878,922. The trade was a 7.87 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,905 shares of company stock worth $6,560,876. Insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. increased its position in shares of Roku by 369.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock worth $25,000 after purchasing an additional 270 shares during the last quarter. Vision Financial Markets LLC acquired a new position in shares of Roku in the 4th quarter worth approximately $30,000. Princeton Global Asset Management LLC purchased a new position in shares of Roku during the 1st quarter worth approximately $35,000. Game Plan Financial Advisors LLC acquired a new stake in Roku in the 4th quarter valued at approximately $37,000. Finally, Harvest Fund Management Co. Ltd raised its position in Roku by 4,091.7% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company’s stock valued at $37,000 after purchasing an additional 491 shares during the period. Institutional investors and hedge funds 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.