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

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

Several other equities research analysts have also recently issued reports on the company. Susquehanna cut their target price on Roku from $110.00 to $80.00 and set a positive rating for the company in a research note on Monday, April 29th. Citigroup dropped their price objective on Roku from $75.00 to $70.00 and set a neutral rating for the company in a research note on Tuesday, April 30th. Morgan Stanley dropped their price objective on Roku from $65.00 to $60.00 and set an underweight rating for the company in a research note on Friday, April 5th. Benchmark dropped their price objective on Roku from $115.00 to $105.00 and set a buy rating for the company in a research note on Friday, April 26th. Finally, Rosenblatt Securities reaffirmed a neutral rating and issued a $89.00 price objective on shares of Roku in a research note on Friday, April 26th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $82.50.

Read Our Latest Stock Report on Roku

Roku Price Performance

NASDAQ ROKU opened at $54.40 on Thursday. The company has a market cap of $7.84 billion, a PE ratio of -13.63 and a beta of 1.92. The stock’s 50 day simple moving average is $58.04 and its 200-day simple moving average is $72.14. Roku has a 1-year low of $51.51 and a 1-year high of $108.84.

Roku (NASDAQ:ROKUGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.29. Roku had a negative return on equity of 23.81% and a negative net margin of 15.64%. The firm had revenue of $881.50 million for the quarter, compared to the consensus estimate of $843.54 million. During the same quarter last year, the business posted ($1.38) earnings per share. The firm’s revenue was up 19.0% compared to the same quarter last year. On average, equities research analysts anticipate that Roku will post -1.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other Roku news, insider Charles Collier sold 7,181 shares of Roku stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $57.03, for a total transaction of $409,532.43. Following the completion of the sale, the insider now directly owns 15,654 shares of the company’s stock, valued at approximately $892,747.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Charles Collier sold 7,181 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $57.03, for a total value of $409,532.43. Following the completion of the sale, the insider now directly owns 15,654 shares of the company’s stock, valued at approximately $892,747.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Stephen H. Kay sold 12,124 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $55.59, for a total value of $673,973.16. Following the completion of the sale, the senior vice president now directly owns 91,905 shares of the company’s stock, valued at $5,108,998.95. The disclosure for this sale can be found here. Insiders sold 23,898 shares of company stock valued at $1,347,966 in the last ninety days. Insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Gotham Asset Management LLC raised its stake in 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 during the last quarter. Nordea Investment Management AB raised its stake in Roku by 8.2% during the 4th quarter. Nordea Investment Management AB now owns 7,247 shares of the company’s stock valued at $669,000 after acquiring an additional 551 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in Roku by 8.7% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 11,381 shares of the company’s stock valued at $1,043,000 after acquiring an additional 914 shares during the last quarter. Norges Bank purchased a new stake in Roku during the 4th quarter valued at approximately $90,386,000. Finally, Garde Capital Inc. purchased a new stake in Roku during the 4th quarter valued at approximately $105,000. 86.30% of the stock is owned by hedge funds and other institutional investors.

Roku Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Roku (NASDAQ:ROKU)

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