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

Needham & Company LLC reiterated their buy rating on shares of Roku (NASDAQ:ROKU) in a research report released on Friday morning, Benzinga reports. Needham & Company LLC currently has a $100.00 price objective on the stock.

A number of other equities research analysts have also recently commented on the company. Wedbush restated an outperform rating and set a $75.00 target price on shares of Roku in a research report on Friday, August 2nd. Benchmark reissued a buy rating and issued a $105.00 price objective on shares of Roku in a report on Thursday, September 12th. Guggenheim raised Roku from a neutral rating to a buy rating and set a $75.00 target price for the company in a research note on Friday, August 23rd. JPMorgan Chase & Co. dropped their price target on shares of Roku from $90.00 to $80.00 and set an overweight rating on the stock in a research note on Friday, August 2nd. Finally, Rosenblatt Securities reduced their price objective on shares of Roku from $89.00 to $61.00 and set a neutral rating for the company in a research report on Friday, August 2nd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Hold and an average target price of $78.25.

Roku Stock Down 0.4 %

Roku stock opened at $74.37 on Friday. The business’s 50-day moving average price is $62.15 and its 200 day moving average price is $60.76. The firm has a market cap of $10.76 billion, a price-to-earnings ratio of -18.64 and a beta of 2.06. Roku has a 52 week low of $48.33 and a 52 week high of $108.84.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.21. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The business had revenue of $968.18 million for the quarter, compared to analysts’ expectations of $937.78 million. During the same quarter last year, the company earned ($0.76) EPS. The business’s revenue was up 14.3% on a year-over-year basis. Equities analysts expect that Roku will post -1.45 EPS for the current year.

Insider Activity at Roku

In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total transaction of $109,012.27. Following the transaction, the insider now owns 38,602 shares of the company’s stock, valued at $2,485,582.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total transaction of $109,012.27. Following the transaction, the insider now owns 38,602 shares in the company, valued at approximately $2,485,582.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Charles Collier sold 3,590 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $65.00, for a total transaction of $233,350.00. Following the completion of the sale, the insider now directly owns 12,064 shares of the company’s stock, valued at approximately $784,160. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,945 shares of company stock valued at $3,389,805. 13.98% of the stock is currently owned by insiders.

Institutional Trading of Roku

Several institutional investors have recently made changes to their positions in the company. ARK Investment Management LLC grew its position in Roku by 1.3% in the second quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock worth $762,096,000 after acquiring an additional 159,785 shares during the period. Vanguard Group Inc. grew its holdings in shares of Roku by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock worth $778,560,000 after purchasing an additional 92,658 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Roku by 24.7% during the 1st 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. raised its holdings 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 period. Finally, Norges Bank acquired a new position in Roku in the fourth quarter valued at about $90,386,000. Hedge funds and other 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.