Roku (NASDAQ:ROKU) Receives “Buy” Rating from Needham & Company LLC

Roku (NASDAQ:ROKU)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $100.00 target price on the stock. Needham & Company LLC’s price target suggests a potential upside of 25.14% from the company’s current price.

A number of other equities research analysts also recently weighed in on ROKU. JPMorgan Chase & Co. upped their price target on shares of Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Loop Capital raised their target price on shares of Roku from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Piper Sandler increased their price objective on Roku from $60.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Macquarie restated an “outperform” rating and issued a $90.00 target price on shares of Roku in a report on Thursday, October 31st. Finally, Citigroup boosted their target price on Roku from $60.00 to $77.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.81.

Roku Stock Up 3.3 %

Shares of NASDAQ ROKU opened at $79.91 on Tuesday. The stock has a market cap of $11.60 billion, a P/E ratio of -66.59 and a beta of 2.05. The firm’s 50-day simple moving average is $75.47 and its 200 day simple moving average is $69.54. Roku has a fifty-two week low of $48.33 and a fifty-two week high of $99.80.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.29. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. Roku’s revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($2.33) EPS. On average, sell-side analysts anticipate that Roku will post -1.1 earnings per share for the current fiscal year.

Insider Transactions at Roku

In related news, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $82.73, for a total value of $82,730.00. Following the completion of the sale, the chief financial officer now owns 64,555 shares of the company’s stock, valued at approximately $5,340,635.15. The trade was a 1.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $77.20, for a total transaction of $1,930,000.00. Following the transaction, the chief executive officer now directly owns 5,020 shares in the company, valued at approximately $387,544. The trade was a 83.28 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 73,095 shares of company stock valued at $5,661,038. 13.98% of the stock is owned by insiders.

Institutional Investors Weigh In On Roku

Several institutional investors and hedge funds have recently modified their holdings of ROKU. Holocene Advisors LP bought a new position in Roku during the third quarter valued at about $129,015,000. Westfield Capital Management Co. LP raised its stake in shares of Roku by 126.1% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock valued at $114,646,000 after acquiring an additional 856,401 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in Roku by 352.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock worth $48,653,000 after purchasing an additional 507,643 shares during the last quarter. JAT Capital Mgmt LP boosted its position in Roku by 470.2% during the third quarter. JAT Capital Mgmt LP now owns 540,577 shares of the company’s stock worth $40,359,000 after purchasing an additional 445,777 shares during the period. Finally, FMR LLC grew its holdings in Roku by 1.7% during the third quarter. FMR LLC now owns 14,570,372 shares of the company’s stock valued at $1,087,824,000 after purchasing an additional 244,793 shares during the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

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.