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

Needham & Company LLC reaffirmed their buy rating on shares of Roku (NASDAQ:ROKU) in a report published on Thursday,Benzinga reports. Needham & Company LLC currently has a $88.50 price target on the stock.

Other equities research analysts also recently issued reports about the stock. Jefferies Financial Group raised shares of Roku from an “underperform” rating to a “hold” rating and lifted their price target for the company from $55.00 to $100.00 in a research note on Thursday, February 20th. FBN Securities began coverage on Roku in a research report on Friday, March 28th. They set an “outperform” rating and a $93.00 target price on the stock. JMP Securities reiterated a “market outperform” rating and issued a $95.00 target price on shares of Roku in a report on Thursday. Compass Point initiated coverage on shares of Roku in a research note on Sunday, March 23rd. They set a “buy” rating for the company. Finally, Redburn Atlantic raised shares of Roku from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research note on Monday, April 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $91.50.

Roku Stock Performance

Shares of ROKU stock opened at $64.65 on Thursday. Roku has a fifty-two week low of $48.33 and a fifty-two week high of $104.96. The company has a market cap of $9.44 billion, a PE ratio of -72.64 and a beta of 2.17. The stock’s fifty day moving average price is $71.59 and its two-hundred day moving average price is $75.64.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.20. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. On average, equities analysts predict that Roku will post -0.3 EPS for the current fiscal year.

Insider Transactions at Roku

In other news, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $75,000.00. Following the transaction, the chief financial officer now directly owns 68,843 shares in the company, valued at $5,163,225. This trade represents a 1.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Anthony J. Wood sold 4,600 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $345,000.00. Following the sale, the chief executive officer now owns 6,243 shares of the company’s stock, valued at approximately $468,225. This trade represents a 42.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,905 shares of company stock worth $6,560,876 over the last quarter. 13.98% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Roku

Institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. lifted its position in Roku by 14.5% during the third quarter. Franklin Resources Inc. now owns 82,170 shares of the company’s stock valued at $6,275,000 after purchasing an additional 10,416 shares in the last quarter. Everence Capital Management Inc. purchased a new position in shares of Roku during the 4th quarter valued at about $350,000. Oak Thistle LLC bought a new position in shares of Roku during the 4th quarter valued at approximately $823,000. Avanza Fonder AB purchased a new stake in Roku in the 4th quarter worth approximately $3,499,000. Finally, O Keefe Stevens Advisory Inc. raised its stake in Roku by 39.5% during the 4th quarter. O Keefe Stevens Advisory Inc. now owns 3,893 shares of the company’s stock worth $289,000 after acquiring an additional 1,102 shares during the period. 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.