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

Needham & Company LLC reaffirmed their buy rating on shares of Roku (NASDAQ:ROKU - Free Report) in a research report released on Monday,Benzinga reports. They currently have a $88.50 target price on the stock.

A number of other equities analysts also recently weighed in on the stock. Benchmark upped their price target on shares of Roku from $100.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Redburn Atlantic raised shares of Roku from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a research report on Monday, April 7th. FBN Securities assumed coverage on shares of Roku in a report on Friday, March 28th. They set an "outperform" rating and a $93.00 price objective for the company. Bank of America assumed coverage on Roku in a research note on Thursday, March 27th. They set a "buy" rating and a $100.00 price objective for the company. Finally, Wedbush reaffirmed an "outperform" rating and set a $100.00 price objective on shares of Roku in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $94.11.

Roku Stock Performance

Shares of Roku stock traded up $0.06 during trading on Monday, hitting $58.46. 2,568,091 shares of the stock were exchanged, compared to its average volume of 3,798,898. The stock's fifty day moving average is $74.56 and its 200 day moving average is $76.13. The stock has a market cap of $8.53 billion, a PE ratio of -65.69 and a beta of 2.17. Roku has a 12 month low of $48.33 and a 12 month high of $104.96.

Roku (NASDAQ:ROKU - Get Free Report) last issued its quarterly earnings results 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 return on equity of 5.34% and a negative net margin of 3.15%. Sell-side analysts anticipate that Roku will post -0.3 EPS for the current fiscal year.

Insider Activity at Roku

In other news, insider Charles Collier sold 7,181 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $78.25, for a total transaction of $561,913.25. Following the sale, the insider now directly owns 7,380 shares in the company, valued at $577,485. This trade represents a 49.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Matthew C. Banks sold 1,906 shares of Roku stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $80.36, for a total transaction of $153,166.16. Following the completion of the sale, the chief accounting officer now owns 7,256 shares in the company, valued at approximately $583,092.16. This represents a 20.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,905 shares of company stock worth $6,560,876 over the last quarter. Company insiders own 13.98% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Geneos Wealth Management Inc. raised its position in Roku by 369.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 343 shares of the company's stock worth $25,000 after purchasing an additional 270 shares during the period. Vision Financial Markets LLC bought a new stake in shares of Roku in the 4th quarter valued at about $30,000. Princeton Global Asset Management LLC purchased a new position in Roku in the first quarter worth $35,000. Game Plan Financial Advisors LLC purchased a new stake in Roku in the fourth quarter valued at about $37,000. Finally, Harvest Fund Management Co. Ltd grew its position in Roku by 4,091.7% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company's stock worth $37,000 after purchasing an additional 491 shares during the last quarter. 86.30% of the stock is owned by hedge funds and other 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.