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

Needham & Company LLC reiterated their buy rating on shares of Roku (NASDAQ:ROKU) in a report published on Monday morning,Benzinga reports. They currently have a $120.00 price objective on the stock.

Other research analysts have also recently issued research reports about the stock. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $86.00 price objective on shares of Roku in a report on Thursday, February 13th. Compass Point assumed coverage on Roku in a research note on Sunday. They set a “buy” rating for the company. Wells Fargo & Company upgraded Roku from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $74.00 to $129.00 in a research report on Friday, February 14th. Citigroup raised Roku from a “neutral” rating to an “outperform” rating in a research note on Sunday. Finally, Moffett Nathanson raised shares of Roku from a “sell” rating to a “neutral” rating and set a $70.00 target price for the company in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $97.67.

Roku Trading Up 3.8 %

ROKU opened at $81.23 on Monday. Roku has a 12-month low of $48.33 and a 12-month high of $104.96. The firm has a 50 day moving average of $80.98 and a two-hundred day moving average of $77.42. The firm has a market capitalization of $11.86 billion, a PE ratio of -91.27 and a beta of 2.12.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.20. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations 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, analysts predict that Roku will post -0.3 EPS for the current fiscal year.

Insider Activity

In other news, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $77.18, for a total value of $77,180.00. Following the sale, the chief financial officer now directly owns 63,555 shares of the company’s stock, valued at approximately $4,905,174.90. The trade was a 1.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $79.77, for a total transaction of $1,994,250.00. Following the transaction, the chief executive officer now directly owns 26,538 shares of the company’s stock, valued at $2,116,936.26. The trade was a 48.51 % 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 valued at $8,633,436 in the last quarter. Insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Roku by 31.7% in the fourth quarter. FMR LLC now owns 19,183,942 shares of the company’s stock valued at $1,426,134,000 after buying an additional 4,613,570 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Roku by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 12,249,091 shares of the company’s stock valued at $910,597,000 after acquiring an additional 185,676 shares during the period. Marshall Wace LLP boosted its holdings in Roku by 663.9% during the 4th quarter. Marshall Wace LLP now owns 2,335,813 shares of the company’s stock valued at $173,644,000 after acquiring an additional 2,030,036 shares during the period. T. Rowe Price Investment Management Inc. grew its position in Roku by 10.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,269,751 shares of the company’s stock valued at $168,734,000 after acquiring an additional 215,841 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Roku by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company’s stock worth $159,353,000 after purchasing an additional 56,820 shares during the period. Hedge funds and other 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.