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

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

A number of other research analysts have also commented on ROKU. Benchmark reiterated a buy rating and set a $115.00 price objective on shares of Roku in a research note on Friday, April 19th. Citigroup reduced their target price on shares of Roku from $110.00 to $75.00 and set a neutral rating for the company in a report on Wednesday, February 21st. Wells Fargo & Company reduced their target price on shares of Roku from $51.00 to $45.00 and set an underweight rating for the company in a report on Friday, April 12th. Oppenheimer cut shares of Roku from an outperform rating to a market perform rating in a report on Friday, February 16th. Finally, Stephens restated an overweight rating and set a $105.00 target price on shares of Roku in a report on Friday, February 16th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Roku currently has an average rating of Hold and a consensus target price of $83.90.

Roku Price Performance

NASDAQ ROKU opened at $56.35 on Friday. Roku has a 12 month low of $51.62 and a 12 month high of $108.84. The firm has a market capitalization of $8.09 billion, a PE ratio of -14.12 and a beta of 1.66. The company’s 50 day simple moving average is $62.80 and its 200 day simple moving average is $78.48.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Thursday, April 25th. The company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.29. Roku had a negative net margin of 15.64% and a negative return on equity of 23.73%. The business had revenue of $881.50 million for the quarter, compared to analyst estimates of $843.54 million. During the same quarter last year, the business earned ($1.38) earnings per share. The business’s revenue for the quarter was up 19.0% on a year-over-year basis. Sell-side analysts anticipate that Roku will post -2.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Stephen H. Kay sold 4,310 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $63.20, for a total transaction of $272,392.00. Following the transaction, the senior vice president now directly owns 81,459 shares in the company, valued at approximately $5,148,208.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $98.64, for a total transaction of $2,466,000.00. Following the transaction, the chief executive officer now directly owns 141,221 shares in the company, valued at approximately $13,930,039.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Stephen H. Kay sold 4,310 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $63.20, for a total transaction of $272,392.00. Following the transaction, the senior vice president now owns 81,459 shares in the company, valued at $5,148,208.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,545 shares of company stock worth $4,364,035. Corporate insiders own 13.63% of the company’s stock.

Hedge Funds Weigh In On Roku

Institutional investors and hedge funds have recently modified their holdings of the stock. Gotham Asset Management LLC grew its holdings in shares of Roku by 200.3% during the 3rd quarter. Gotham Asset Management LLC now owns 41,128 shares of the company’s stock valued at $2,903,000 after acquiring an additional 27,431 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Roku by 8.2% in the 4th quarter. Nordea Investment Management AB now owns 7,247 shares of the company’s stock valued at $669,000 after purchasing an additional 551 shares during the last quarter. Barclays PLC lifted its stake in shares of Roku by 13.0% in the 3rd quarter. Barclays PLC now owns 215,766 shares of the company’s stock valued at $15,231,000 after purchasing an additional 24,765 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Roku by 27.6% in the 3rd quarter. Deutsche Bank AG now owns 154,729 shares of the company’s stock valued at $10,922,000 after purchasing an additional 33,500 shares during the last quarter. Finally, Vontobel Holding Ltd. lifted its stake in shares of Roku by 32.4% in the 4th quarter. Vontobel Holding Ltd. now owns 79,771 shares of the company’s stock valued at $7,312,000 after purchasing an additional 19,543 shares during the last quarter. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

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.