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

Needham & Company LLC restated their buy rating on shares of Roku (NASDAQ:ROKU) in a report published on Friday, Benzinga reports. They currently have a $100.00 target price on the stock.

Other research analysts have also recently issued reports about the stock. Guggenheim upgraded shares of Roku from a neutral rating to a buy rating and set a $75.00 price target on the stock in a report on Friday, August 23rd. JPMorgan Chase & Co. reduced their target price on shares of Roku from $90.00 to $80.00 and set an overweight rating on the stock in a research report on Friday, August 2nd. Bank of America lowered their price target on Roku from $85.00 to $75.00 and set a buy rating for the company in a report on Friday, August 2nd. Wells Fargo & Company upgraded Roku from an underweight rating to an equal weight rating and raised their price objective for the stock from $50.00 to $72.00 in a report on Thursday, September 5th. Finally, Rosenblatt Securities lowered their target price on Roku from $89.00 to $61.00 and set a neutral rating for the company in a report on Friday, August 2nd. Three research 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. Based on data from MarketBeat, Roku presently has a consensus rating of Hold and a consensus price target of $78.25.

Roku Price Performance

Shares of NASDAQ ROKU opened at $74.37 on Friday. Roku has a 1 year low of $48.33 and a 1 year high of $108.84. The firm has a 50-day simple moving average of $62.15 and a two-hundred day simple moving average of $60.76. The company has a market cap of $10.76 billion, a P/E ratio of -18.64 and a beta of 2.06.

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

Insiders Place Their Bets

In other news, insider Charles Collier sold 15,454 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,159,050.00. Following the completion of the sale, the insider now owns 200 shares in the company, valued at approximately $15,000. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total transaction of $109,012.27. Following the sale, the insider now owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Charles Collier sold 15,454 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,159,050.00. Following the completion of the transaction, the insider now directly owns 200 shares of the company’s stock, valued at approximately $15,000. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,945 shares of company stock valued at $3,389,805. 13.98% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Roku

A number of large investors have recently made changes to their positions in the stock. Swedbank AB acquired a new stake in Roku during the 1st quarter worth about $1,180,000. Vanguard Personalized Indexing Management LLC boosted its position in Roku by 8.7% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 11,381 shares of the company’s stock valued at $1,043,000 after buying an additional 914 shares during the last quarter. SG Americas Securities LLC increased its holdings in Roku by 238.6% in the 2nd quarter. SG Americas Securities LLC now owns 73,528 shares of the company’s stock worth $4,407,000 after buying an additional 51,815 shares during the period. Norges Bank purchased a new position in Roku during the 4th quarter worth approximately $90,386,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Roku by 23.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,822 shares of the company’s stock valued at $4,094,000 after acquiring an additional 11,851 shares during the period. 86.30% of the stock is owned by hedge funds and other institutional investors.

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.