Roku (NASDAQ:ROKU) Stock Rating Reaffirmed by Needham & Company LLC

Roku (NASDAQ:ROKU)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a note issued to investors on Tuesday, Benzinga reports. They presently have a $100.00 target price on the stock. Needham & Company LLC’s price target suggests a potential upside of 36.05% from the stock’s current price.

Several other research firms also recently issued reports on ROKU. Benchmark restated a “buy” rating and issued a $105.00 price target on shares of Roku in a research note on Thursday, September 12th. Moffett Nathanson raised shares of Roku from a “sell” rating to a “neutral” rating and set a $80.00 target price for the company in a research report on Tuesday, October 1st. Rosenblatt Securities lowered their price target on shares of Roku from $89.00 to $61.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Wells Fargo & Company raised shares of Roku from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $50.00 to $72.00 in a report on Thursday, September 5th. Finally, JPMorgan Chase & Co. raised their target price on shares of Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $81.80.

Roku Price Performance

NASDAQ:ROKU opened at $73.50 on Tuesday. The company has a market cap of $10.63 billion, a P/E ratio of -21.18 and a beta of 2.08. The firm’s fifty day moving average price is $71.75 and its two-hundred day moving average price is $63.15. Roku has a one year low of $48.33 and a one year high of $108.84.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.21. The business had revenue of $968.18 million for the quarter, compared to analyst estimates of $937.78 million. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. Roku’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.76) EPS. As a group, equities research analysts expect that Roku will post -1.44 earnings per share for the current year.

Insider Buying and Selling

In other Roku news, insider Charles Collier sold 15,454 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total value of $1,159,050.00. Following the sale, the insider now owns 200 shares in the company, valued at $15,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other Roku news, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.25, for a total value of $76,250.00. Following the completion of the transaction, the chief financial officer now owns 53,267 shares of the company’s stock, valued at $4,061,608.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Charles Collier sold 15,454 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $75.00, for a total value of $1,159,050.00. Following the completion of the transaction, the insider now owns 200 shares of the company’s stock, valued at $15,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,566 shares of company stock worth $5,254,000 in the last three months. 13.98% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Gateway Investment Advisers LLC bought a new position in shares of Roku during the first quarter valued at $897,000. Counterpoint Mutual Funds LLC acquired a new position in Roku during the 1st quarter worth about $275,000. SteelPeak Wealth LLC grew its position in shares of Roku by 77.9% in the 1st quarter. SteelPeak Wealth LLC now owns 9,159 shares of the company’s stock valued at $597,000 after buying an additional 4,011 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Roku by 243.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,045 shares of the company’s stock valued at $133,000 after buying an additional 1,449 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of 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 acquiring an additional 1,457,925 shares during the last quarter. 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.