Roku (NASDAQ:ROKU) Earns “Buy” Rating from Needham & Company LLC

Roku (NASDAQ:ROKU)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a report released on Tuesday,Benzinga reports. They presently have a $100.00 price objective on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 20.48% from the company’s current price.

A number of other brokerages also recently commented on ROKU. Jefferies Financial Group reduced their price objective on shares of Roku from $60.00 to $55.00 and set an “underperform” rating for the company in a research note on Friday, November 1st. Bank of America boosted their price target on Roku from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Citigroup raised their price objective on Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Benchmark reiterated a “buy” rating and issued a $105.00 target price on shares of Roku in a report on Thursday, September 12th. Finally, Robert W. Baird raised shares of Roku from a “neutral” rating to an “outperform” rating and increased their price target for the company from $70.00 to $90.00 in a research report on Monday, November 18th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Roku presently has a consensus rating of “Moderate Buy” and an average price target of $83.81.

Roku Trading Up 6.4 %

Shares of ROKU stock opened at $83.00 on Tuesday. Roku has a twelve month low of $48.33 and a twelve month high of $99.80. The stock has a fifty day simple moving average of $75.50 and a two-hundred day simple moving average of $69.71. The stock has a market capitalization of $12.05 billion, a price-to-earnings ratio of -69.17 and a beta of 2.05.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.29. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The firm’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 firm earned ($2.33) earnings per share. Research analysts predict that Roku will post -1.1 EPS for the current fiscal year.

Insider Activity at Roku

In other Roku news, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.25, for a total value of $76,250.00. Following the sale, the chief financial officer now directly owns 53,267 shares of the company’s stock, valued at approximately $4,061,608.75. This represents a 1.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $82.64, for a total value of $2,066,000.00. Following the transaction, the chief executive officer now owns 26,538 shares of the company’s stock, valued at $2,193,100.32. The trade was a 48.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,095 shares of company stock worth $3,731,038 over the last quarter. Insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Hedge funds have recently bought and sold shares of the stock. Raelipskie Partnership purchased a new position in shares of Roku during the 3rd quarter valued at approximately $32,000. EverSource Wealth Advisors LLC increased its holdings in Roku by 123.4% in the second quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock valued at $40,000 after buying an additional 375 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of Roku in the third quarter worth about $43,000. GS Investments Inc. boosted its stake in shares of Roku by 33.4% during the 3rd quarter. GS Investments Inc. now owns 587 shares of the company’s stock worth $44,000 after acquiring an additional 147 shares in the last quarter. Finally, Cedar Wealth Management LLC acquired a new stake in shares of Roku during the 2nd quarter valued at about $48,000. 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.