Roku (NASDAQ:ROKU) Given Buy Rating at Needham & Company LLC

Roku (NASDAQ:ROKU)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $100.00 target price on the stock. Needham & Company LLC’s price target suggests a potential upside of 52.63% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Wells Fargo & Company upgraded Roku from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $50.00 to $72.00 in a report on Thursday, September 5th. Moffett Nathanson raised shares of Roku from a “sell” rating to a “neutral” rating and set a $80.00 price target on the stock in a research note on Tuesday, October 1st. Guggenheim upgraded shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Friday, August 23rd. Rosenblatt Securities increased their price objective on Roku from $61.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. lifted their target price on Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Roku presently has an average rating of “Hold” and a consensus target price of $83.80.

Roku Stock Down 15.5 %

NASDAQ ROKU opened at $65.52 on Thursday. The stock has a market cap of $9.45 billion, a P/E ratio of -19.43 and a beta of 2.08. Roku has a twelve month low of $48.33 and a twelve month high of $108.84. The company’s 50-day simple moving average is $73.24 and its 200 day simple moving average is $63.66.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.29. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The business’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($2.33) earnings per share. Research analysts anticipate that Roku will post -1.43 earnings per share for the current year.

Insider Buying and Selling at Roku

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the transaction, the chief executive officer now owns 5,020 shares of the company’s stock, valued at $376,500. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Roku news, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $76.25, for a total transaction of $76,250.00. Following the completion of the sale, the chief financial officer now directly owns 53,267 shares in the company, valued at $4,061,608.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the company’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 $1,875,000.00. Following the completion of the transaction, the chief executive officer now directly owns 5,020 shares in the company, valued at $376,500. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,566 shares of company stock worth $5,254,000 over the last quarter. 13.98% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. ARK Investment Management LLC lifted its holdings in shares of Roku by 1.3% during the second quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock worth $762,096,000 after buying an additional 159,785 shares in the last quarter. Vanguard Group Inc. increased its position in Roku by 0.8% during the first quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock worth $778,560,000 after acquiring an additional 92,658 shares during the period. Nikko Asset Management Americas Inc. increased its position in Roku by 25.8% during the first quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock worth $462,108,000 after acquiring an additional 1,455,408 shares during the period. Bank of New York Mellon Corp raised its stake in Roku by 5.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 500,794 shares of the company’s stock worth $30,013,000 after purchasing an additional 24,926 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in Roku by 138.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 342,400 shares of the company’s stock valued at $22,314,000 after purchasing an additional 198,600 shares during the period. 86.30% of the stock is owned by institutional investors and hedge funds.

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.