JMP Securities Initiates Coverage on Roku (NASDAQ:ROKU)

JMP Securities began coverage on shares of Roku (NASDAQ:ROKU) in a research note issued to investors on Tuesday, Marketbeat.com reports. The firm issued a mkt outperform rating and a $95.00 price objective on the stock.

A number of other equities research analysts have also commented on the company. Bank of America increased their price target on Roku from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Jefferies Financial Group lowered their target price on Roku from $60.00 to $55.00 and set an “underperform” rating for the company in a research note on Friday, November 1st. Piper Sandler upped their price target on shares of Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. raised their price objective on shares of Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Finally, Morgan Stanley upped their target price on shares of Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 29th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Roku currently has an average rating of “Moderate Buy” and an average target price of $83.18.

Roku Stock Performance

Shares of NASDAQ ROKU opened at $83.78 on Tuesday. Roku has a 52-week low of $48.33 and a 52-week high of $99.80. The business has a fifty day moving average of $76.87 and a two-hundred day moving average of $71.06. The stock has a market cap of $12.16 billion, a PE ratio of -69.82 and a beta of 2.05.

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

Insider Buying and Selling at Roku

In related news, insider Charles Collier sold 10,771 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $269,620.60. The trade was a 73.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $75.00, for a total transaction of $75,000.00. Following the sale, the chief financial officer now owns 65,555 shares in the company, valued at $4,916,625. This trade represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 73,095 shares of company stock valued at $5,726,218. Corporate insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

A number of hedge funds and other institutional investors have recently made changes to their positions in ROKU. Robeco Institutional Asset Management B.V. raised its stake in shares of Roku by 56.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 130,985 shares of the company’s stock valued at $9,737,000 after purchasing an additional 47,006 shares during the period. SteelPeak Wealth LLC acquired a new stake in Roku in the 4th quarter valued at approximately $258,000. PFG Investments LLC lifted its stake in Roku by 4.9% in the 4th quarter. PFG Investments LLC now owns 4,361 shares of the company’s stock valued at $324,000 after acquiring an additional 204 shares in the last quarter. Jacksonville Wealth Management LLC acquired a new position in Roku during the 4th quarter worth approximately $346,000. Finally, Geneos Wealth Management Inc. grew its stake 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 acquiring an additional 270 shares in the last quarter. 86.30% of the stock is currently owned by institutional investors and hedge funds.

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.