Roku (NASDAQ:ROKU) Given Buy Rating at Needham & Company LLC

Roku (NASDAQ:ROKU)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a note issued to investors on Monday,Benzinga reports. They currently have a $120.00 price objective on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 53.28% from the company’s previous close.

Several other equities analysts have also recently issued reports on ROKU. Jefferies Financial Group raised shares of Roku from an “underperform” rating to a “hold” rating and boosted their price objective for the company from $55.00 to $100.00 in a research note on Thursday, February 20th. Wells Fargo & Company upgraded shares of Roku from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $74.00 to $129.00 in a research report on Friday, February 14th. Bank of America boosted their target price on shares of Roku from $90.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Benchmark boosted their price objective on shares of Roku from $100.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Finally, UBS Group boosted their price objective on shares of Roku from $73.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $97.67.

Roku Stock Performance

Shares of ROKU opened at $78.29 on Monday. The stock has a market capitalization of $11.43 billion, a P/E ratio of -87.97 and a beta of 2.12. The company’s fifty day moving average is $80.89 and its two-hundred day moving average is $77.32. Roku has a 1 year low of $48.33 and a 1 year high of $104.96.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating 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 net margin of 3.15% and a negative return on equity of 5.34%. Sell-side analysts predict that Roku will post -0.3 EPS for the current year.

Insider Buying and Selling

In other news, CEO Anthony J. Wood sold 4,600 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $345,000.00. Following the completion of the transaction, the chief executive officer now directly owns 6,243 shares in the company, valued at approximately $468,225. This represents a 42.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $75,000.00. Following the transaction, the chief financial officer now owns 68,843 shares of the company’s stock, valued at approximately $5,163,225. This trade represents a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 97,908 shares of company stock valued at $8,633,436. 13.98% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Roku

Several institutional investors and hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC boosted its stake in shares of Roku by 23.9% during the 4th quarter. Farther Finance Advisors LLC now owns 627 shares of the company’s stock valued at $47,000 after buying an additional 121 shares during the last quarter. United Advisor Group LLC boosted its stake in shares of Roku by 0.9% during the 4th quarter. United Advisor Group LLC now owns 14,430 shares of the company’s stock valued at $1,073,000 after buying an additional 130 shares during the last quarter. Cerity Partners LLC lifted its stake in Roku by 0.5% during the fourth quarter. Cerity Partners LLC now owns 26,679 shares of the company’s stock worth $1,984,000 after purchasing an additional 145 shares during the last quarter. True Vision MN LLC lifted its stake in Roku by 3.1% during the third quarter. True Vision MN LLC now owns 5,018 shares of the company’s stock worth $375,000 after purchasing an additional 152 shares during the last quarter. Finally, Richard W. Paul & Associates LLC lifted its stake in Roku by 1.1% during the fourth quarter. Richard W. Paul & Associates LLC now owns 15,997 shares of the company’s stock worth $1,189,000 after purchasing an additional 177 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.