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

Roku (NASDAQ:ROKU)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a note issued to investors on Tuesday, Benzinga reports. They presently have a $100.00 price target on the stock. Needham & Company LLC’s price objective suggests a potential upside of 29.87% from the stock’s previous close.

ROKU has been the topic of a number of other reports. Wolfe Research raised shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price target on the stock in a report on Thursday, September 12th. Wedbush reissued an “outperform” rating and set a $75.00 price target on shares of Roku in a report on Friday, August 2nd. JPMorgan Chase & Co. upped their price objective on shares of Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Bank of America upped their price objective on shares of Roku from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, Citigroup upped their price objective on shares of Roku from $60.00 to $77.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $81.24.

Roku Price Performance

ROKU stock opened at $77.00 on Tuesday. The firm’s fifty day simple moving average is $71.00 and its 200-day simple moving average is $62.96. The company has a market capitalization of $11.14 billion, a P/E ratio of -22.19 and a beta of 2.08. Roku has a 12 month low of $48.33 and a 12 month high of $108.84.

Roku (NASDAQ:ROKU) last announced 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. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The firm had revenue of $968.18 million for the quarter, compared to the consensus estimate of $937.78 million. During the same period in the prior year, the firm posted ($0.76) earnings per share. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Roku will post -1.44 earnings per share for the current year.

Insiders Place Their Bets

In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total transaction of $109,012.27. Following the transaction, the insider now directly owns 38,602 shares of the company’s stock, valued at $2,485,582.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total transaction of $109,012.27. Following the transaction, the insider now directly owns 38,602 shares of the company’s stock, valued at $2,485,582.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $77.20, for a total transaction of $1,930,000.00. Following the transaction, the chief executive officer now directly owns 5,020 shares in the company, valued at $387,544. 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 69,566 shares of company stock valued at $5,254,000 over the last ninety days. Company insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Institutional investors have recently made changes to their positions in the stock. Swedbank AB acquired a new stake in shares of Roku during the first quarter valued at about $1,180,000. SG Americas Securities LLC increased its position in shares of Roku by 238.6% during the second quarter. SG Americas Securities LLC now owns 73,528 shares of the company’s stock valued at $4,407,000 after acquiring an additional 51,815 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Roku by 23.3% during the first 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 last quarter. Vanguard Group Inc. grew its holdings in shares of Roku by 0.8% in the first quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock valued at $778,560,000 after purchasing an additional 92,658 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in shares of Roku by 6,522.2% in the first quarter. Acadian Asset Management LLC now owns 157,409 shares of the company’s stock valued at $10,252,000 after purchasing an additional 155,032 shares in the last quarter. 86.30% of the stock is currently owned by institutional investors and hedge funds.

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.