Roku’s (ROKU) Buy Rating Reiterated at Needham & Company LLC

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

Other analysts also recently issued reports about the company. Robert W. Baird upgraded Roku from a “neutral” rating to an “outperform” rating and raised their target price for the company from $70.00 to $90.00 in a research note on Monday, November 18th. Benchmark restated a “buy” rating and set a $105.00 price objective on shares of Roku in a research note on Thursday, September 12th. UBS Group initiated coverage on Roku in a research note on Friday, November 22nd. They set a “neutral” rating and a $73.00 target price for the company. Loop Capital lifted their price target on shares of Roku from $70.00 to $80.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. Finally, Piper Sandler increased their price objective on shares of Roku from $60.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Roku presently has an average rating of “Moderate Buy” and a consensus target price of $83.81.

Roku Trading Up 6.4 %

Shares of NASDAQ ROKU opened at $83.00 on Tuesday. The stock has a fifty day moving average price of $75.61 and a 200 day moving average price of $69.80. Roku has a 12-month low of $48.33 and a 12-month high of $99.80. The company has a market cap of $12.05 billion, a P/E ratio of -69.17 and a beta of 2.05.

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

Insiders Place Their Bets

In other Roku news, CAO Matthew C. Banks sold 8,693 shares of Roku stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $71.44, for a total transaction of $621,027.92. Following the transaction, the chief accounting officer now owns 7,264 shares of the company’s stock, valued at $518,940.16. The trade was a 54.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Charles Collier sold 10,771 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $71.14, for a total value of $766,248.94. Following the completion of the transaction, the insider now owns 3,790 shares in the company, valued at $269,620.60. This represents a 73.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,095 shares of company stock worth $3,731,038. Corporate insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Raelipskie Partnership purchased a new position in shares of Roku during the 3rd quarter valued at $32,000. Future Financial Wealth Managment LLC bought a new stake in shares of Roku in the 3rd quarter valued at approximately $43,000. GS Investments Inc. increased its holdings in Roku by 33.4% in the third quarter. GS Investments Inc. now owns 587 shares of the company’s stock worth $44,000 after buying an additional 147 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Roku by 123.4% during the second quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock valued at $40,000 after acquiring an additional 375 shares in the last quarter. Finally, Cedar Wealth Management LLC acquired a new stake in Roku in the second quarter valued at approximately $48,000. 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.