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

Needham & Company LLC reissued their buy rating on shares of Roku (NASDAQ:ROKU) in a research note issued to investors on Tuesday morning,Benzinga reports. Needham & Company LLC currently has a $100.00 target price on the stock.

Other analysts also recently issued research reports about the company. Wells Fargo & Company raised their price objective on Roku from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Macquarie reaffirmed an “outperform” rating and issued a $90.00 target price on shares of Roku in a research report on Thursday, October 31st. Robert W. Baird raised shares of Roku from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $70.00 to $90.00 in a report on Monday, November 18th. Rosenblatt Securities raised their price objective on shares of Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Morgan Stanley upped their target price on shares of Roku from $60.00 to $65.00 and gave the company an “underweight” rating in a research note on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Roku has an average rating of “Moderate Buy” and an average price target of $83.81.

Roku Trading Up 6.4 %

ROKU opened at $83.00 on Tuesday. The business has a 50 day moving average of $75.61 and a 200-day moving average of $69.80. The stock has a market capitalization of $12.05 billion, a price-to-earnings ratio of -69.17 and a beta of 2.05. Roku has a 1-year low of $48.33 and a 1-year high of $99.80.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.29. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the business posted ($2.33) EPS. The business’s quarterly revenue was up 16.5% on a year-over-year basis. Equities analysts predict that Roku will post -1.1 EPS for the current year.

Insider Activity at Roku

In other news, insider Charles Collier sold 10,771 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $71.14, for a total value of $766,248.94. Following the transaction, the insider now owns 3,790 shares of the company’s stock, valued at approximately $269,620.60. This trade represents a 73.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $82.64, for a total transaction of $2,066,000.00. Following the sale, the chief executive officer now directly owns 26,538 shares of the company’s stock, valued at approximately $2,193,100.32. This trade represents a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,095 shares of company stock valued at $3,731,038 over the last quarter. Corporate insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Institutional investors have recently bought and sold shares of the business. Raelipskie Partnership acquired a new position in shares of Roku in the 3rd quarter valued at $32,000. EverSource Wealth Advisors LLC lifted its stake in Roku by 123.4% in the second quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock valued at $40,000 after buying an additional 375 shares during the period. Future Financial Wealth Managment LLC bought a new position in Roku during the third quarter worth about $43,000. GS Investments Inc. grew its position in shares of Roku by 33.4% during the 3rd quarter. GS Investments Inc. now owns 587 shares of the company’s stock worth $44,000 after buying an additional 147 shares during the period. Finally, Cedar Wealth Management LLC bought a new stake in shares of Roku in the 2nd quarter valued at about $48,000. Institutional investors and hedge funds own 86.30% of the company’s stock.

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.