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

Needham & Company LLC reiterated their buy rating on shares of Roku (NASDAQ:ROKU) in a report issued on Thursday morning, Benzinga reports. The brokerage currently has a $100.00 price target on the stock.

A number of other brokerages also recently weighed in on ROKU. Morgan Stanley lifted their target price on Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a report on Tuesday. Robert W. Baird increased their target price on shares of Roku from $56.00 to $75.00 and gave the stock a “neutral” rating in a research note on Monday, September 30th. Moffett Nathanson upgraded shares of Roku from a “sell” rating to a “neutral” rating and set a $80.00 price objective on the stock in a report on Tuesday, October 1st. Guggenheim raised Roku from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Friday, August 23rd. Finally, Citigroup raised their price objective on Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $83.71.

Roku Trading Up 1.6 %

NASDAQ:ROKU traded up $1.05 on Thursday, reaching $65.13. 2,641,623 shares of the stock traded hands, compared to its average volume of 4,415,602. The firm has a market capitalization of $9.42 billion, a price-to-earnings ratio of -53.40 and a beta of 2.08. Roku has a 1-year low of $48.33 and a 1-year high of $108.84. The company’s 50 day moving average is $73.29 and its 200-day moving average is $63.66.

Roku (NASDAQ:ROKU) last announced its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.29. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. Roku had a negative net margin of 4.42% and a negative return on equity of 7.30%. Roku’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter last year, the firm earned ($2.33) earnings per share. On average, equities research analysts forecast that Roku will post -1.41 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Dan Jedda sold 1,000 shares of the business’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 sale, the chief financial officer now directly owns 53,267 shares in the company, valued at approximately $4,061,608.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Dan Jedda sold 1,000 shares of Roku 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 of the company’s stock, valued at approximately $4,061,608.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the transaction, the chief executive officer now owns 5,020 shares in the company, valued at $376,500. This 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 over the last 90 days. Corporate insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

Institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its position in Roku by 243.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,045 shares of the company’s stock valued at $133,000 after purchasing an additional 1,449 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Roku by 30.0% during the 1st quarter. Principal Financial Group Inc. now owns 10,889 shares of the company’s stock valued at $710,000 after buying an additional 2,512 shares in the last quarter. Private Advisor Group LLC lifted its position in Roku by 65.5% in the 1st quarter. Private Advisor Group LLC now owns 22,305 shares of the company’s stock worth $1,454,000 after buying an additional 8,824 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Roku by 206.7% in the first quarter. Janney Montgomery Scott LLC now owns 26,925 shares of the company’s stock worth $1,755,000 after buying an additional 18,146 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in Roku by 8.2% in the first quarter. Nordea Investment Management AB now owns 7,842 shares of the company’s stock worth $516,000 after buying an additional 595 shares in 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.