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

Roku (NASDAQ:ROKU - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at Needham & Company LLC in a research note issued to investors on Monday,Benzinga reports. They presently have a $120.00 price objective on the stock. Needham & Company LLC's price objective suggests a potential upside of 57.79% from the stock's previous close.

ROKU has been the subject of several other research reports. Wells Fargo & Company raised Roku from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $74.00 to $129.00 in a report on Friday, February 14th. Wedbush reissued an "outperform" rating and issued a $100.00 target price on shares of Roku in a report on Monday, February 10th. Rosenblatt Securities reaffirmed a "neutral" rating and set a $86.00 price target on shares of Roku in a report on Thursday, February 13th. JMP Securities increased their target price on Roku from $95.00 to $115.00 and gave the stock a "market outperform" rating in a research report on Friday, February 14th. Finally, Benchmark raised their target price on shares of Roku from $100.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $96.71.

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Roku Stock Performance

Shares of ROKU stock traded down $1.82 during trading hours on Monday, reaching $76.05. The company had a trading volume of 2,107,756 shares, compared to its average volume of 3,685,108. Roku has a one year low of $48.33 and a one year high of $104.96. The business has a fifty day moving average price of $81.16 and a 200-day moving average price of $77.54. The firm has a market cap of $11.10 billion, a PE ratio of -85.45 and a beta of 2.12.

Roku (NASDAQ:ROKU - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.20. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.15 billion. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. Equities research analysts forecast that Roku will post -0.3 EPS for the current year.

Insider Transactions at Roku

In related 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 value of $345,000.00. Following the transaction, the chief executive officer now owns 6,243 shares of the company's stock, valued at $468,225. This represents a 42.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction 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 sale, the chief financial officer now directly 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. Over the last three months, insiders have sold 97,908 shares of company stock valued at $8,633,436. 13.98% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Roku during the third quarter valued at about $253,000. Charles Schwab Investment Management Inc. lifted its position in shares of Roku by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 955,969 shares of the company's stock valued at $71,373,000 after buying an additional 30,038 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of Roku by 73.0% in the 3rd quarter. Citigroup Inc. now owns 101,529 shares of the company's stock valued at $7,580,000 after buying an additional 42,837 shares in the last quarter. Cerity Partners LLC grew its position in shares of Roku by 11.1% in the 3rd quarter. Cerity Partners LLC now owns 26,534 shares of the company's stock worth $1,981,000 after buying an additional 2,644 shares during the last quarter. Finally, Algert Global LLC raised its stake in shares of Roku by 26.5% during the 3rd quarter. Algert Global LLC now owns 69,777 shares of the company's stock worth $5,210,000 after acquiring an additional 14,600 shares in the last quarter. 86.30% of the stock is currently owned by institutional investors.

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.