Roku (NASDAQ:ROKU) Receives “Market Outperform” Rating from Citizens Jmp

Roku (NASDAQ:ROKU)‘s stock had its “market outperform” rating reaffirmed by equities research analysts at Citizens Jmp in a report released on Thursday,Benzinga reports. They presently have a $170.00 target price on the stock. Citizens Jmp’s price target would suggest a potential upside of 31.57% from the stock’s current price.

A number of other brokerages also recently issued reports on ROKU. UBS Group set a $170.00 target price on Roku in a research note on Thursday. Citigroup reaffirmed a “market outperform” rating on shares of Roku in a research note on Thursday. Needham & Company LLC raised their target price on Roku from $110.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. KeyCorp raised their target price on Roku from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Finally, Wedbush raised their target price on Roku from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Twenty-two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.46.

Roku Stock Performance

NASDAQ ROKU traded down $2.71 during trading hours on Thursday, reaching $129.21. The stock had a trading volume of 397,042 shares, compared to its average volume of 3,091,434. The stock has a fifty day moving average of $110.96 and a 200 day moving average of $104.00. The stock has a market cap of $19.05 billion, a P/E ratio of 97.06 and a beta of 2.04. Roku has a 52-week low of $71.20 and a 52-week high of $132.80.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, April 30th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.23. Roku had a net margin of 4.06% and a return on equity of 7.64%. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the company posted ($0.19) EPS. The company’s revenue for the quarter was up 22.4% on a year-over-year basis. On average, equities research analysts forecast that Roku will post 2.41 EPS for the current year.

Insider Buying and Selling

In related news, CFO Dan Jedda sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $94.23, for a total transaction of $1,413,450.00. Following the completion of the sale, the chief financial officer owned 85,115 shares in the company, valued at $8,020,386.45. The trade was a 14.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gilbert Fuchsberg sold 9,593 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $125.52, for a total value of $1,204,113.36. Following the sale, the insider owned 50,863 shares of the company’s stock, valued at approximately $6,384,323.76. The trade was a 15.87% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 692,038 shares of company stock worth $76,667,575. 13.45% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Roku by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 12,998,674 shares of the company’s stock valued at $1,301,557,000 after purchasing an additional 322,858 shares in the last quarter. AQR Capital Management LLC boosted its stake in Roku by 10.6% in the 4th quarter. AQR Capital Management LLC now owns 2,860,149 shares of the company’s stock worth $310,298,000 after buying an additional 274,024 shares during the last quarter. Geode Capital Management LLC boosted its stake in Roku by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 2,464,130 shares of the company’s stock worth $267,389,000 after buying an additional 168,214 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Roku by 229.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,038,347 shares of the company’s stock worth $192,868,000 after buying an additional 1,419,772 shares during the last quarter. Finally, Holocene Advisors LP boosted its stake in Roku by 352.3% in the 3rd quarter. Holocene Advisors LP now owns 1,650,448 shares of the company’s stock worth $165,259,000 after buying an additional 1,285,585 shares during the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

Roku Company Profile

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.