Roku’s (ROKU) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Roku (NASDAQ:ROKU) in a research report sent to investors on Friday morning, Benzinga reports. They currently have a $100.00 price objective on the stock.

Several other equities analysts have also recently issued reports on the company. Guggenheim upgraded Roku from a neutral rating to a buy rating and set a $75.00 target price on the stock in a research report on Friday, August 23rd. Wells Fargo & Company upgraded Roku from an underweight rating to an equal weight rating and increased their price objective for the stock from $50.00 to $72.00 in a research report on Thursday, September 5th. JPMorgan Chase & Co. decreased their target price on shares of Roku from $90.00 to $80.00 and set an overweight rating on the stock in a research report on Friday, August 2nd. Benchmark reiterated a buy rating and issued a $105.00 price target on shares of Roku in a report on Thursday. Finally, Bank of America decreased their price objective on shares of Roku from $85.00 to $75.00 and set a buy rating on the stock in a report on Friday, August 2nd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $78.25.

Roku Stock Up 0.8 %

ROKU opened at $74.69 on Friday. Roku has a 52 week low of $48.33 and a 52 week high of $108.84. The business’s 50 day moving average is $61.63 and its two-hundred day moving average is $60.66. The firm has a market cap of $10.81 billion, a price-to-earnings ratio of -18.72 and a beta of 2.06.

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.21. The business had revenue of $968.18 million during the quarter, compared to analysts’ expectations of $937.78 million. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The business’s revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.76) earnings per share. Equities analysts expect that Roku will post -1.45 EPS for the current fiscal year.

Insider Transactions at Roku

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the sale, the chief executive officer now owns 5,020 shares of the company’s stock, valued at $376,500. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Charles Collier sold 15,454 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total value of $1,159,050.00. Following the transaction, the insider now owns 200 shares of the company’s stock, valued at approximately $15,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the transaction, the chief executive officer now owns 5,020 shares in the company, valued at approximately $376,500. The disclosure for this sale can be found here. Insiders sold a total of 45,945 shares of company stock worth $3,389,805 in the last ninety days. Insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Swedbank AB acquired a new position in Roku during the 1st quarter worth approximately $1,180,000. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Roku by 8.7% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 11,381 shares of the company’s stock valued at $1,043,000 after purchasing an additional 914 shares during the period. SG Americas Securities LLC grew its holdings in Roku by 238.6% during the 2nd quarter. SG Americas Securities LLC now owns 73,528 shares of the company’s stock valued at $4,407,000 after purchasing an additional 51,815 shares in the last quarter. Norges Bank purchased a new stake in Roku during the 4th quarter worth $90,386,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Roku by 23.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,822 shares of the company’s stock valued at $4,094,000 after buying an additional 11,851 shares during the last quarter. Institutional investors and hedge funds 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.