Roku (NASDAQ:ROKU) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Roku (NASDAQ:ROKU) in a research note published on Tuesday, Benzinga reports. Needham & Company LLC currently has a $100.00 price objective on the stock.

A number of other research analysts have also recently issued reports on the stock. Wells Fargo & Company raised shares of Roku from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $50.00 to $72.00 in a research report on Thursday, September 5th. Benchmark reiterated a “buy” rating and set a $105.00 target price on shares of Roku in a report on Thursday, September 12th. JPMorgan Chase & Co. boosted their price target on Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Rosenblatt Securities reduced their price objective on Roku from $89.00 to $61.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Robert W. Baird lifted their price objective on Roku from $56.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Roku has a consensus rating of “Hold” and a consensus price target of $81.80.

Roku Stock Performance

ROKU stock opened at $74.04 on Tuesday. Roku has a fifty-two week low of $48.33 and a fifty-two week high of $108.84. The company has a market capitalization of $10.67 billion, a price-to-earnings ratio of -18.56 and a beta of 2.08. The business’s 50 day moving average price is $72.04 and its two-hundred day moving average price is $63.22.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.21. The company had revenue of $968.18 million for the quarter, compared to analysts’ expectations of $937.78 million. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.76) earnings per share. Sell-side analysts forecast that Roku will post -1.44 earnings per share for the current year.

Insider Transactions at Roku

In related news, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.25, for a total transaction of $76,250.00. Following the completion of the sale, the chief financial officer now owns 53,267 shares in the company, valued at approximately $4,061,608.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total transaction of $109,012.27. Following the transaction, the insider now owns 38,602 shares in the company, valued at $2,485,582.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.25, for a total value of $76,250.00. Following the completion of the sale, the chief financial officer now owns 53,267 shares of the company’s stock, valued at $4,061,608.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,566 shares of company stock worth $5,254,000 in the last ninety days. Insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

A number of hedge funds and other institutional investors have recently bought and sold shares of ROKU. EverSource Wealth Advisors LLC grew its stake in shares of Roku by 123.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock valued at $40,000 after acquiring an additional 375 shares during the period. Future Financial Wealth Managment LLC bought a new position in shares of Roku in the third quarter worth approximately $43,000. Geneos Wealth Management Inc. boosted its position in shares of Roku by 835.6% in the first quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock worth $45,000 after purchasing an additional 610 shares during the period. Cedar Wealth Management LLC purchased a new stake in shares of Roku in the second quarter worth $48,000. Finally, Natixis bought a new stake in shares of Roku during the 1st quarter valued at $53,000. Hedge funds and other institutional investors 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.