Needham & Company LLC Reiterates “Buy” Rating for Roku (NASDAQ:ROKU)

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

A number of other brokerages also recently commented on ROKU. Robert W. Baird upped their target price on Roku from $56.00 to $75.00 and gave the company a “neutral” rating in a report on Monday, September 30th. 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 research report on Friday, August 23rd. Moffett Nathanson raised Roku from a “sell” rating to a “neutral” rating and set a $80.00 price objective on the stock in a research report on Tuesday, October 1st. Wedbush increased their target price on Roku from $75.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. lifted their price target on Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $83.71.

Roku Stock Performance

ROKU stock traded up $1.05 during trading on Thursday, hitting $65.13. 2,641,623 shares of the company traded hands, compared to its average volume of 4,415,602. The company has a 50-day moving average of $73.29 and a 200-day moving average of $63.66. Roku has a 1 year low of $48.33 and a 1 year high of $108.84. The firm has a market capitalization of $9.42 billion, a PE ratio of -53.40 and a beta of 2.08.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.29. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Roku had a negative net margin of 4.42% and a negative return on equity of 7.30%. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($2.33) EPS. Sell-side analysts expect that Roku will post -1.41 EPS for the current year.

Insider Activity

In related news, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total value of $109,012.27. Following the completion of the sale, the insider now directly owns 38,602 shares in the company, valued at approximately $2,485,582.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Dan Jedda sold 1,000 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total transaction of $75,330.00. Following the transaction, the chief financial officer now directly owns 54,267 shares of the company’s stock, valued at $4,087,933.11. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gilbert Fuchsberg sold 1,693 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total value of $109,012.27. Following the completion of the transaction, the insider now owns 38,602 shares in the company, valued at approximately $2,485,582.78. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,566 shares of company stock valued at $5,254,000 over the last ninety days. 13.98% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ROKU. EverSource Wealth Advisors LLC increased its position in shares of Roku by 123.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock valued at $40,000 after purchasing an additional 375 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in Roku during the third quarter valued at approximately $43,000. Geneos Wealth Management Inc. increased its holdings in Roku by 835.6% during the first quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock valued at $45,000 after buying an additional 610 shares during the last quarter. Cedar Wealth Management LLC purchased a new position in shares of Roku during the 2nd quarter worth $48,000. Finally, Natixis bought a new stake in shares of Roku during the 1st quarter valued at $53,000. 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.