Roku’s (ROKU) Buy Rating Reiterated at Needham & Company LLC

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

ROKU has been the subject of a number of other reports. Morgan Stanley cut their target price on Roku from $65.00 to $60.00 and set an underweight rating for the company in a research report on Friday, April 5th. Pivotal Research dropped their target price on shares of Roku from $85.00 to $75.00 and set a hold rating for the company in a research report on Friday, February 16th. Wells Fargo & Company reduced their price target on shares of Roku from $51.00 to $45.00 and set an underweight rating on the stock in a research report on Friday, April 12th. Oppenheimer downgraded shares of Roku from an outperform rating to a market perform rating in a research report on Friday, February 16th. Finally, Susquehanna upped their target price on Roku from $100.00 to $110.00 and gave the stock a positive rating in a research note on Friday, February 16th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $84.47.

Roku Stock Performance

ROKU stock opened at $58.66 on Friday. Roku has a 52 week low of $51.62 and a 52 week high of $108.84. The company has a market capitalization of $8.42 billion, a PE ratio of -14.70 and a beta of 1.66. The company’s 50-day simple moving average is $62.53 and its 200 day simple moving average is $78.50.

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, April 25th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.64) by $0.29. The company had revenue of $881.50 million for the quarter, compared to analysts’ expectations of $843.54 million. Roku had a negative net margin of 15.64% and a negative return on equity of 23.73%. The business’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same period last year, the firm earned ($1.38) earnings per share. On average, analysts forecast that Roku will post -2.12 EPS for the current year.

Insiders Place Their Bets

In other Roku news, Director Jeffrey M. Blackburn purchased 8,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was purchased at an average price of $63.96 per share, with a total value of $511,680.00. Following the completion of the purchase, the director now owns 8,000 shares of the company’s stock, valued at $511,680. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Roku news, SVP Stephen H. Kay sold 4,310 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.20, for a total value of $272,392.00. Following the sale, the senior vice president now owns 81,459 shares in the company, valued at approximately $5,148,208.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey M. Blackburn acquired 8,000 shares of the stock in a transaction dated Wednesday, March 13th. The shares were bought at an average price of $63.96 per share, with a total value of $511,680.00. Following the completion of the transaction, the director now directly owns 8,000 shares of the company’s stock, valued at $511,680. The disclosure for this purchase can be found here. Insiders have sold 54,545 shares of company stock valued at $4,364,035 in the last ninety days. 13.63% of the stock is currently owned by insiders.

Institutional Trading of Roku

Several institutional investors have recently added to or reduced their stakes in ROKU. GAMMA Investing LLC acquired a new position in shares of Roku in the 4th quarter worth approximately $27,000. Creative Financial Designs Inc. ADV acquired a new stake in Roku during the 4th quarter worth about $29,000. Quarry LP raised its position in shares of Roku by 160.2% in the 4th quarter. Quarry LP now owns 432 shares of the company’s stock worth $40,000 after acquiring an additional 266 shares in the last quarter. Federated Hermes Inc. acquired a new position in shares of Roku in the 3rd quarter valued at about $37,000. Finally, Headinvest LLC bought a new stake in shares of Roku during the 3rd quarter valued at about $42,000. 86.30% of the stock is currently owned by 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.