Needham & Company LLC Reiterates “Buy” Rating for Roku (NASDAQ:ROKU)

Roku (NASDAQ:ROKU)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a research note issued on Wednesday,Benzinga reports. They currently have a $100.00 price target on the stock. Needham & Company LLC’s target price would indicate a potential upside of 21.91% from the stock’s current price.

ROKU has been the topic of a number of other reports. Guggenheim upgraded shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Friday, August 23rd. Baird R W upgraded Roku from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Morgan Stanley boosted their price objective on Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. lifted their price target on shares of Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, Benchmark restated a “buy” rating and issued a $105.00 price objective on shares of Roku in a report on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Roku currently has an average rating of “Moderate Buy” and a consensus target price of $82.62.

Roku Trading Down 1.1 %

NASDAQ:ROKU opened at $82.03 on Wednesday. The stock has a market capitalization of $11.91 billion, a P/E ratio of -68.36 and a beta of 2.06. Roku has a 1 year low of $48.33 and a 1 year high of $108.84. The firm has a 50 day moving average of $74.03 and a 200-day moving average of $65.83.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 7.22% and a negative net margin of 4.42%. The business’s revenue was up 16.5% on a year-over-year basis. During the same period last year, the firm posted ($2.33) EPS. As a group, analysts forecast that Roku will post -1.1 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Charles Collier sold 15,454 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total value of $1,159,050.00. Following the completion of the sale, the insider now directly owns 200 shares in the company, valued at $15,000. The trade was a 98.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 5,020 shares in the company, valued at $376,500. The trade was a 83.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 88,550 shares of company stock valued at $6,621,873. Company insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

A number of institutional investors have recently bought and sold shares of ROKU. FMR LLC increased its holdings in shares of Roku by 1.7% during the third quarter. FMR LLC now owns 14,570,372 shares of the company’s stock worth $1,087,824,000 after purchasing an additional 244,793 shares during the period. ARK Investment Management LLC raised its holdings in Roku by 1.3% in the 2nd quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock valued at $762,096,000 after acquiring an additional 159,785 shares in the last quarter. Holocene Advisors LP bought a new stake in shares of Roku during the 3rd quarter valued at $129,015,000. Westfield Capital Management Co. LP increased its position in shares of Roku by 126.1% in the third quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock worth $114,646,000 after purchasing an additional 856,401 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Roku by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 955,969 shares of the company’s stock worth $71,373,000 after buying an additional 30,038 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.