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 research note issued to investors on Friday, Benzinga reports. Needham & Company LLC currently has a $100.00 target price on the stock.

A number of other analysts also recently issued reports on the company. Wedbush decreased their price target on Roku from $120.00 to $80.00 and set an outperform rating for the company in a report on Friday, April 19th. Stephens reaffirmed an overweight rating and set a $105.00 price target on shares of Roku in a report on Friday, February 16th. Morgan Stanley decreased their price target on Roku from $65.00 to $60.00 and set an underweight rating for the company in a report on Friday, April 5th. Wells Fargo & Company decreased their price target on Roku from $51.00 to $45.00 and set an underweight rating for the company in a report on Friday, April 12th. Finally, Citigroup decreased their price target on Roku from $110.00 to $75.00 and set a neutral rating for the company in a report on Wednesday, February 21st. Five research 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $83.90.

Roku Trading Down 10.3 %

NASDAQ:ROKU opened at $56.35 on Friday. The firm has a market cap of $8.09 billion, a PE ratio of -14.12 and a beta of 1.66. The stock has a fifty day moving average price of $62.80 and a 200 day moving average price of $78.48. Roku has a 12-month low of $51.62 and a 12-month high of $108.84.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, April 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.29. The firm had revenue of $881.50 million during the quarter, compared to analyst estimates of $843.54 million. Roku had a negative return on equity of 23.73% and a negative net margin of 15.64%. Roku’s revenue was up 19.0% compared to the same quarter last year. During the same period last year, the business posted ($1.38) earnings per share. Equities analysts forecast that Roku will post -2.12 EPS for the current year.

Insider Activity at Roku

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $98.64, for a total value of $2,466,000.00. Following the sale, the chief executive officer now owns 141,221 shares of the company’s stock, valued at approximately $13,930,039.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Roku news, insider Charles Collier sold 12,277 shares of Roku stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $65.06, for a total value of $798,741.62. Following the sale, the insider now owns 4,292 shares of the company’s stock, valued at approximately $279,237.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $98.64, for a total value of $2,466,000.00. Following the sale, the chief executive officer now directly owns 141,221 shares in the company, valued at approximately $13,930,039.44. The disclosure for this sale can be found here. Insiders have sold 54,545 shares of company stock worth $4,364,035 in the last quarter. Company insiders own 13.63% of the company’s stock.

Institutional Investors Weigh In On Roku

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC purchased a new stake in shares of Roku during the 4th quarter worth approximately $27,000. Creative Financial Designs Inc. ADV acquired a new position in Roku in the 4th quarter valued at $29,000. Federated Hermes Inc. acquired a new position in Roku in the 3rd quarter valued at $37,000. Quarry LP raised its holdings in Roku by 160.2% in the 4th quarter. Quarry LP now owns 432 shares of the company’s stock valued at $40,000 after acquiring an additional 266 shares during the last quarter. Finally, Headinvest LLC acquired a new position in Roku in the 3rd quarter valued at $42,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

About Roku

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.