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

Roku (NASDAQ:ROKU)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a research report issued on Monday,Benzinga reports. They presently have a $120.00 price target on the stock. Needham & Company LLC’s price target would suggest a potential upside of 46.82% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Pivotal Research upgraded Roku from a “hold” rating to a “buy” rating and increased their target price for the stock from $65.00 to $125.00 in a research report on Friday, February 14th. Rosenblatt Securities reiterated a “neutral” rating and set a $86.00 price objective on shares of Roku in a research note on Thursday, February 13th. Loop Capital lifted their target price on Roku from $70.00 to $80.00 and gave the company a “hold” rating in a report on Monday, December 9th. Citizens Jmp raised shares of Roku to a “strong-buy” rating in a report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. raised their price objective on shares of Roku from $92.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. One analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $97.67.

Roku Stock Performance

ROKU stock opened at $81.73 on Monday. Roku has a fifty-two week low of $48.33 and a fifty-two week high of $104.96. The stock has a fifty day moving average of $81.12 and a 200-day moving average of $77.54. The company has a market capitalization of $11.93 billion, a price-to-earnings ratio of -91.83 and a beta of 2.12.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.20. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.15 billion. Equities analysts predict that Roku will post -0.3 EPS for the current year.

Insider Buying and Selling

In related news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $75,000.00. Following the transaction, the chief financial officer now owns 68,843 shares in the company, valued at $5,163,225. This trade represents a 1.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charles Collier sold 7,181 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $78.25, for a total transaction of $561,913.25. Following the sale, the insider now owns 7,380 shares of the company’s stock, valued at approximately $577,485. The trade was a 49.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,908 shares of company stock worth $8,633,436 in the last quarter. 13.98% of the stock is owned by insiders.

Hedge Funds Weigh In On Roku

A number of large investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. grew its holdings in shares of Roku by 369.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock worth $25,000 after purchasing an additional 270 shares during the last quarter. Vision Financial Markets LLC bought a new stake in Roku during the 4th quarter valued at $30,000. Raelipskie Partnership purchased a new stake in Roku during the 3rd quarter valued at $32,000. Game Plan Financial Advisors LLC bought a new stake in Roku in the 4th quarter worth $37,000. Finally, Harvest Fund Management Co. Ltd increased its position in shares of Roku by 4,091.7% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company’s stock valued at $37,000 after acquiring an additional 491 shares during the period. 86.30% of the stock is owned by hedge funds and other institutional investors.

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.