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

Needham & Company LLC restated their buy rating on shares of Roku (NASDAQ:ROKU) in a research report released on Monday,Benzinga reports. They currently have a $88.50 target price on the stock.

Several other equities research analysts also recently weighed in on the stock. JMP Securities reissued a “market outperform” rating and issued a $95.00 target price on shares of Roku in a research report on Friday, May 2nd. Redburn Atlantic raised shares of Roku from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Monday, April 7th. Guggenheim reaffirmed a “buy” rating and set a $100.00 price objective on shares of Roku in a research report on Friday, May 2nd. Pivotal Research lowered their price objective on shares of Roku from $125.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Finally, Benchmark reaffirmed a “buy” rating and set a $130.00 price objective on shares of Roku in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Roku has a consensus rating of “Moderate Buy” and an average target price of $87.93.

Roku Price Performance

Shares of ROKU stock opened at $71.88 on Monday. Roku has a 12 month low of $48.33 and a 12 month high of $104.96. The firm has a market capitalization of $10.49 billion, a P/E ratio of -80.76 and a beta of 2.06. The company’s fifty day moving average price is $65.91 and its two-hundred day moving average price is $74.51.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.08. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The company’s revenue was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.35) EPS. On average, sell-side analysts anticipate that Roku will post -0.3 EPS for the current year.

Insider Activity at Roku

In other Roku news, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $75,000.00. Following the transaction, the chief financial officer now owns 68,843 shares in the company, valued at approximately $5,163,225. This represents a 1.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Anthony J. Wood sold 4,600 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $345,000.00. Following the completion of the transaction, the chief executive officer now owns 6,243 shares in the company, valued at approximately $468,225. This represents a 42.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,111 shares of company stock valued at $4,377,112 over the last ninety days. Insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Several large investors have recently modified their holdings of ROKU. Ieq Capital LLC boosted its holdings in Roku by 129.5% in the 1st quarter. Ieq Capital LLC now owns 29,477 shares of the company’s stock valued at $2,076,000 after purchasing an additional 16,631 shares during the period. Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Roku during the first quarter worth $1,059,000. Virtus Advisers LLC bought a new stake in shares of Roku during the first quarter worth $226,000. Comerica Bank boosted its holdings in Roku by 4.4% in the first quarter. Comerica Bank now owns 304,788 shares of the company’s stock valued at $21,469,000 after acquiring an additional 12,933 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Roku by 38,431.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 489,353 shares of the company’s stock valued at $34,470,000 after acquiring an additional 488,083 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.