Roku (NASDAQ:ROKU) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Roku (NASDAQ:ROKU) in a report released on Tuesday,Benzinga reports. Needham & Company LLC currently has a $100.00 target price on the stock.

Several other research analysts have also weighed in on ROKU. UBS Group initiated coverage on Roku in a research report on Friday, November 22nd. They issued a “neutral” rating and a $73.00 price objective for the company. Robert W. Baird upgraded Roku from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $70.00 to $90.00 in a report on Monday, November 18th. Macquarie reissued an “outperform” rating and set a $90.00 price objective on shares of Roku in a research report on Thursday, October 31st. Bank of America upped their target price on shares of Roku from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, Benchmark reiterated a “buy” rating and set a $105.00 price target on shares of Roku in a research report on Thursday, September 12th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $83.81.

Roku Stock Down 2.4 %

NASDAQ ROKU opened at $77.99 on Tuesday. The business’s fifty day simple moving average is $75.50 and its 200-day simple moving average is $69.71. The firm has a market cap of $11.32 billion, a PE ratio of -64.99 and a beta of 2.05. Roku has a 52 week low of $48.33 and a 52 week high of $99.80.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.29. The firm 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%. Roku’s revenue was up 16.5% compared to the same quarter last year. During the same period last year, the business earned ($2.33) earnings per share. Research analysts expect that Roku will post -1.1 EPS for the current year.

Insider Buying and Selling

In related news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $77.20, for a total transaction of $1,930,000.00. Following the transaction, the chief executive officer now owns 5,020 shares in the company, valued at $387,544. This trade represents a 83.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Charles Collier sold 10,771 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $71.14, for a total value of $766,248.94. Following the completion of the sale, the insider now owns 3,790 shares of the company’s stock, valued at approximately $269,620.60. This represents a 73.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 73,095 shares of company stock worth $5,661,038 in the last ninety days. 13.98% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ROKU. Raelipskie Partnership purchased a new stake in shares of Roku in the third quarter valued at about $32,000. Future Financial Wealth Managment LLC purchased a new stake in Roku during the 3rd quarter valued at approximately $43,000. GS Investments Inc. lifted its position in Roku by 33.4% during the 3rd quarter. GS Investments Inc. now owns 587 shares of the company’s stock worth $44,000 after acquiring an additional 147 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Roku by 123.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock valued at $40,000 after purchasing an additional 375 shares during the last quarter. Finally, Cedar Wealth Management LLC acquired a new position in shares of Roku in the second quarter valued at approximately $48,000. 86.30% of the stock is owned by hedge funds and other institutional investors.

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.