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

Roku (NASDAQ:ROKU - Get Free Report)'s stock had its "buy" rating restated by equities researchers at Needham & Company LLC in a research note issued to investors on Monday,Benzinga reports. They currently have a $120.00 target price on the stock. Needham & Company LLC's target price indicates a potential upside of 65.54% from the stock's current price.

Other research analysts have also recently issued research reports about the company. Moffett Nathanson raised Roku from a "sell" rating to a "neutral" rating and set a $70.00 target price on the stock in a research note on Tuesday, March 4th. Loop Capital raised their price objective on Roku from $70.00 to $80.00 and gave the company a "hold" rating in a report on Monday, December 9th. UBS Group boosted their target price on Roku from $73.00 to $90.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Benchmark increased their price target on shares of Roku from $100.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Finally, Wells Fargo & Company upgraded shares of Roku from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $74.00 to $129.00 in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $96.55.

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Roku Price Performance

NASDAQ ROKU traded down $3.56 during trading on Monday, reaching $72.49. The company's stock had a trading volume of 3,047,296 shares, compared to its average volume of 3,711,285. The firm has a fifty day moving average of $81.16 and a 200 day moving average of $77.54. Roku has a one year low of $48.33 and a one year high of $104.96. The stock has a market capitalization of $10.58 billion, a PE ratio of -81.45 and a beta of 2.12.

Roku (NASDAQ:ROKU - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.20. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The company had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.15 billion. Research analysts expect that Roku will post -0.3 earnings per share for the current fiscal year.

Insider Activity at Roku

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the firm's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $79.77, for a total value of $1,994,250.00. Following the completion of the sale, the chief executive officer now directly owns 26,538 shares in the company, valued at $2,116,936.26. This trade represents a 48.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Matthew C. Banks sold 1,906 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $80.36, for a total value of $153,166.16. Following the completion of the transaction, the chief accounting officer now directly owns 7,256 shares of the company's stock, valued at $583,092.16. This represents a 20.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,908 shares of company stock worth $8,633,436 over the last quarter. Corporate insiders own 13.98% of the company's stock.

Institutional Investors Weigh In On Roku

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ROKU. Entropy Technologies LP lifted its position in Roku by 264.4% during the fourth quarter. Entropy Technologies LP now owns 25,525 shares of the company's stock valued at $1,898,000 after buying an additional 18,520 shares during the period. Holocene Advisors LP bought a new stake in Roku during the third quarter worth about $129,015,000. National Bank of Canada FI grew its holdings in Roku by 11,626.3% in the third quarter. National Bank of Canada FI now owns 150,800 shares of the company's stock worth $11,259,000 after purchasing an additional 149,514 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Roku by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 990,867 shares of the company's stock worth $73,661,000 after purchasing an additional 34,898 shares during the period. Finally, Achmea Investment Management B.V. increased its stake in shares of Roku by 146.4% during the fourth quarter. Achmea Investment Management B.V. now owns 10,168 shares of the company's stock valued at $756,000 after purchasing an additional 6,042 shares in 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.