Roku (NASDAQ:ROKU) Rating Reiterated by Needham & Company LLC

Roku (NASDAQ:ROKU)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a report issued on Friday, Benzinga reports. They presently have a $100.00 target price on the stock. Needham & Company LLC’s price target would suggest a potential upside of 33.89% from the company’s previous close.

ROKU has been the topic of a number of other reports. Bank of America dropped their price target on shares of Roku from $85.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Rosenblatt Securities dropped their target price on Roku from $89.00 to $61.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Wells Fargo & Company raised Roku from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $50.00 to $72.00 in a research note on Thursday, September 5th. JPMorgan Chase & Co. lowered their price target on Roku from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Finally, Wedbush reaffirmed an “outperform” rating and set a $75.00 price objective on shares of Roku in a research report on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $78.25.

Roku Price Performance

NASDAQ:ROKU opened at $74.69 on Friday. The stock has a market cap of $10.81 billion, a PE ratio of -18.72 and a beta of 2.06. Roku has a fifty-two week low of $48.33 and a fifty-two week high of $108.84. The stock’s 50-day moving average is $61.88 and its two-hundred day moving average is $60.73.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.21. The business had revenue of $968.18 million during the quarter, compared to analysts’ expectations of $937.78 million. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period last year, the company posted ($0.76) earnings per share. On average, equities research analysts anticipate that Roku will post -1.45 earnings per share for the current year.

Insider Buying and Selling

In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total value of $109,012.27. Following the transaction, the insider now directly owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total value of $109,012.27. Following the completion of the sale, the insider now directly owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Charles Collier sold 3,590 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total transaction of $233,350.00. Following the transaction, the insider now owns 12,064 shares in the company, valued at approximately $784,160. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,945 shares of company stock valued at $3,389,805. Insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

Large investors have recently added to or reduced their stakes in the company. ARK Investment Management LLC increased its position in shares of Roku by 1.3% during the second quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock valued at $762,096,000 after purchasing an additional 159,785 shares during the period. Vanguard Group Inc. raised its stake in shares of Roku by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock valued at $778,560,000 after buying an additional 92,658 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Roku by 24.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock worth $478,939,000 after acquiring an additional 1,457,925 shares during the period. Nikko Asset Management Americas Inc. boosted its position in shares of Roku by 25.8% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock valued at $462,108,000 after acquiring an additional 1,455,408 shares in the last quarter. Finally, Norges Bank bought a new stake in Roku in the fourth quarter valued at about $90,386,000. 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.