Roku (NASDAQ:ROKU) Given Buy Rating at Needham & Company LLC

Roku (NASDAQ:ROKU)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. They presently have a $88.50 target price on the stock. Needham & Company LLC’s price objective points to a potential upside of 8.68% from the company’s current price.

ROKU has been the subject of several other reports. Benchmark restated a “buy” rating and set a $130.00 target price on shares of Roku in a research report on Friday, May 2nd. Moffett Nathanson upgraded shares of Roku from a “sell” rating to a “neutral” rating and set a $70.00 price target on the stock in a research note on Tuesday, March 4th. Wells Fargo & Company cut their price objective on shares of Roku from $129.00 to $93.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Loop Capital raised Roku from a “hold” rating to a “buy” rating and raised their target price for the stock from $80.00 to $100.00 in a report on Tuesday. Finally, Wedbush reissued an “outperform” rating and set a $100.00 price target on shares of Roku in a report on Monday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Roku has a consensus rating of “Moderate Buy” and a consensus price target of $89.93.

Roku Stock Up 1.0%

Shares of NASDAQ ROKU opened at $81.43 on Tuesday. The firm has a market cap of $11.88 billion, a P/E ratio of -111.55 and a beta of 2.09. Roku has a twelve month low of $48.33 and a twelve month high of $104.96. The company has a 50 day moving average of $68.68 and a 200 day moving average of $75.06.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.08. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Roku had a negative net margin of 2.49% and a negative return on equity of 4.29%. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.35) earnings per share. As a group, equities analysts expect that Roku will post -0.3 earnings per share for the current fiscal year.

Insider Activity at Roku

In other news, insider Charles Collier sold 3,590 shares of the company’s stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $85.00, for a total transaction of $305,150.00. Following the sale, the insider now directly owns 7,380 shares of the company’s stock, valued at $627,300. This represents a 32.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Matthew C. Banks sold 629 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $72.98, for a total value of $45,904.42. Following the transaction, the chief accounting officer now owns 8,555 shares of the company’s stock, valued at $624,343.90. This represents a 6.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 64,227 shares of company stock valued at $4,994,244. Corporate insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Several institutional investors have recently modified their holdings of the stock. Garde Capital Inc. purchased a new position in shares of Roku during the first quarter valued at approximately $25,000. Banque Transatlantique SA bought a new stake in shares of Roku during the 1st quarter worth approximately $28,000. Vision Financial Markets LLC bought a new stake in shares of Roku during the 4th quarter worth approximately $30,000. Beaird Harris Wealth Management LLC purchased a new position in Roku during the 1st quarter valued at $30,000. Finally, Golden State Wealth Management LLC grew its position 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 acquiring an additional 247 shares during the last quarter. 86.30% of the stock is owned by institutional investors.

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.