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 note published on Thursday morning,Benzinga reports. They currently have a $88.50 price target on the stock.

Other equities research analysts also recently issued reports about the company. Rosenblatt Securities reaffirmed a "neutral" rating and set a $86.00 target price on shares of Roku in a report on Thursday, February 13th. UBS Group reduced their price objective on shares of Roku from $90.00 to $72.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Moffett Nathanson raised shares of Roku from a "sell" rating to a "neutral" rating and set a $70.00 target price on the stock in a research report on Tuesday, March 4th. JPMorgan Chase & Co. reduced their price target on shares of Roku from $115.00 to $75.00 and set an "overweight" rating for the company in a research report on Tuesday. Finally, Wells Fargo & Company raised shares of Roku from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $74.00 to $129.00 in a research note on Friday, February 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given 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 an average target price of $91.50.

Roku Stock Up 1.6 %

Roku stock traded up $1.06 during midday trading on Thursday, hitting $65.71. The company's stock had a trading volume of 2,970,038 shares, compared to its average volume of 3,773,588. Roku has a 12 month low of $48.33 and a 12 month high of $104.96. The company has a market capitalization of $9.59 billion, a PE ratio of -73.83 and a beta of 2.17. The stock's 50-day moving average price is $70.99 and its 200-day moving average price is $75.55.

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

Insider Buying and Selling at Roku

In other Roku news, CFO Dan Jedda sold 1,000 shares of the business's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $75,000.00. Following the completion of the transaction, the chief financial officer now owns 68,843 shares of the company's stock, valued at $5,163,225. The trade was a 1.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $87.93, for a total value of $2,198,250.00. Following the completion of the sale, the chief executive officer now directly owns 26,538 shares in the company, valued at approximately $2,333,486.34. This represents a 48.51 % 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 90 days. Insiders own 13.98% of the company's stock.

Institutional Trading of Roku

Several hedge funds have recently added to or reduced their stakes in ROKU. Geneos Wealth Management Inc. lifted its holdings in shares of Roku by 369.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 343 shares of the company's stock worth $25,000 after buying an additional 270 shares during the last quarter. Garde Capital Inc. bought a new position in Roku during the first quarter worth $25,000. Vision Financial Markets LLC acquired a new position in Roku during the 4th quarter valued at $30,000. Golden State Wealth Management LLC boosted its holdings in Roku by 125.4% in the 1st quarter. Golden State Wealth Management LLC now owns 444 shares of the company's stock valued at $31,000 after purchasing an additional 247 shares during the period. Finally, Game Plan Financial Advisors LLC acquired a new stake in Roku in the 4th quarter worth $37,000. Institutional investors own 86.30% of the company's stock.

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.