Roku’s (ROKU) “Buy” Rating Reaffirmed at Needham & Company LLC

Roku (NASDAQ:ROKU)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a research report issued on Tuesday,Benzinga reports. They presently have a $100.00 price target on the stock. Needham & Company LLC’s target price indicates a potential upside of 25.14% from the company’s current price.

A number of other analysts also recently weighed in on ROKU. Bank of America increased their price target on shares of Roku from $75.00 to $90.00 and gave the company a “buy” rating in a report on Monday, September 30th. Wedbush reissued an “outperform” rating and set a $100.00 target price (up from $85.00) on shares of Roku in a research report on Friday, December 6th. Benchmark reiterated a “buy” rating and issued a $105.00 price objective on shares of Roku in a research report on Thursday, September 12th. Robert W. Baird upgraded Roku from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $70.00 to $90.00 in a research report on Monday, November 18th. Finally, Moffett Nathanson raised Roku from a “sell” rating to a “neutral” rating and set a $80.00 target price for the company in a research report on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $83.81.

Roku Stock Performance

Roku stock opened at $79.91 on Tuesday. Roku has a 52 week low of $48.33 and a 52 week high of $99.80. The firm has a market capitalization of $11.60 billion, a PE ratio of -66.59 and a beta of 2.05. The business’s 50-day simple moving average is $75.47 and its 200-day simple moving average is $69.54.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.29. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the business posted ($2.33) EPS. The company’s revenue for the quarter was up 16.5% on a year-over-year basis. Research analysts forecast that Roku will post -1.1 earnings per share for the current year.

Insider Buying and Selling

In other Roku news, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $82.73, for a total value of $82,730.00. Following the completion of the transaction, the chief financial officer now directly owns 64,555 shares of the company’s stock, valued at approximately $5,340,635.15. The trade was a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Matthew C. Banks sold 8,693 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $71.44, for a total transaction of $621,027.92. Following the sale, the chief accounting officer now directly owns 7,264 shares in the company, valued at $518,940.16. This trade represents a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 73,095 shares of company stock worth $5,661,038 in the last three months. Insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. FMR LLC boosted its position in Roku by 1.7% in the 3rd quarter. FMR LLC now owns 14,570,372 shares of the company’s stock valued at $1,087,824,000 after buying an additional 244,793 shares during the last quarter. Holocene Advisors LP acquired a new position in shares of Roku during the third quarter valued at $129,015,000. Westfield Capital Management Co. LP boosted its holdings in Roku by 126.1% in the third quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock valued at $114,646,000 after acquiring an additional 856,401 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Roku by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 955,969 shares of the company’s stock worth $71,373,000 after purchasing an additional 30,038 shares during the period. Finally, Point72 Asset Management L.P. raised its holdings in Roku by 352.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock worth $48,653,000 after purchasing an additional 507,643 shares during the last quarter. Institutional investors own 86.30% of the company’s stock.

Roku Company Profile

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.