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

Roku (NASDAQ:ROKU)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a research note issued on Thursday, Benzinga reports. They presently have a $100.00 target price on the stock. Needham & Company LLC’s price target suggests a potential upside of 90.37% from the company’s previous close.

ROKU has been the topic of several other reports. Morgan Stanley lowered their price target on Roku from $65.00 to $60.00 and set an “underweight” rating on the stock in a research note on Friday, April 5th. Piper Sandler reissued a “neutral” rating and set a $65.00 price objective (down from $81.00) on shares of Roku in a report on Friday, April 26th. Susquehanna reduced their target price on shares of Roku from $110.00 to $80.00 and set a “positive” rating on the stock in a research note on Monday, April 29th. Seaport Res Ptn raised shares of Roku from a “neutral” rating to a “buy” rating in a report on Monday, April 29th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $89.00 price target on shares of Roku in a research report on Friday, April 26th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $82.50.

Roku Trading Down 2.7 %

ROKU opened at $52.53 on Thursday. The business has a 50 day moving average of $58.31 and a 200-day moving average of $72.85. The stock has a market capitalization of $7.57 billion, a price-to-earnings ratio of -13.17 and a beta of 1.92. Roku has a 1-year low of $52.50 and a 1-year high of $108.84.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, April 25th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.64) by $0.29. The firm had revenue of $881.50 million during the quarter, compared to analysts’ expectations of $843.54 million. Roku had a negative net margin of 15.64% and a negative return on equity of 23.81%. The business’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.38) EPS. Equities analysts predict that Roku will post -1.94 EPS for the current year.

Insider Activity at Roku

In related news, insider Charles Collier sold 7,181 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $57.03, for a total transaction of $409,532.43. Following the completion of the transaction, the insider now owns 15,654 shares in the company, valued at $892,747.62. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Charles Collier sold 7,181 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $57.03, for a total value of $409,532.43. Following the completion of the sale, the insider now owns 15,654 shares in the company, valued at approximately $892,747.62. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Stephen H. Kay sold 12,124 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $55.59, for a total value of $673,973.16. Following the sale, the senior vice president now directly owns 91,905 shares in the company, valued at approximately $5,108,998.95. The disclosure for this sale can be found here. Insiders have sold 23,898 shares of company stock worth $1,347,966 in the last ninety days. Company insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ROKU. Vanguard Group Inc. raised its position in 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 during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Roku by 24.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock worth $478,939,000 after purchasing an additional 1,457,925 shares during the last quarter. Nikko Asset Management Americas Inc. increased its stake in Roku by 25.8% in 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 buying an additional 1,455,408 shares during the last quarter. Wellington Management Group LLP lifted its position in Roku by 34.6% during the 3rd quarter. Wellington Management Group LLP now owns 2,543,081 shares of the company’s stock worth $179,516,000 after buying an additional 653,940 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Roku during the 4th quarter worth about $90,386,000. Institutional investors and hedge funds 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.