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 report published on Monday morning,Benzinga reports. The firm currently has a $120.00 target price on the stock.

Other research analysts also recently issued research reports about the stock. Wedbush reiterated an “outperform” rating and issued a $100.00 price target on shares of Roku in a research note on Monday, February 10th. JMP Securities raised their target price on shares of Roku from $95.00 to $115.00 and gave the stock a “market outperform” rating in a research report on Friday, February 14th. UBS Group increased their price objective on Roku from $73.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Rosenblatt Securities reissued a “neutral” rating and set a $86.00 price target on shares of Roku in a report on Thursday, February 13th. Finally, Citigroup raised shares of Roku from a “neutral” rating to an “outperform” rating in a report on Sunday. One analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $97.67.

Roku Price Performance

Roku stock opened at $77.87 on Monday. The business has a 50 day simple moving average of $81.15 and a 200-day simple moving average of $77.55. Roku has a 12 month low of $48.33 and a 12 month high of $104.96. The stock has a market capitalization of $11.36 billion, a PE ratio of -87.49 and a beta of 2.12.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.20. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.15 billion. On average, equities research analysts anticipate that Roku will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $87.93, for a total value of $2,198,250.00. Following the transaction, the chief executive officer now directly owns 26,538 shares of the company’s stock, valued at $2,333,486.34. This trade represents a 48.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Dan Jedda sold 5,000 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $100.40, for a total transaction of $502,000.00. Following the transaction, the chief financial officer now owns 58,555 shares of the company’s stock, valued at $5,878,922. This trade represents a 7.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,908 shares of company stock valued at $8,633,436. 13.98% of the stock is owned by insiders.

Hedge Funds Weigh In On Roku

A number of institutional investors and hedge funds have recently modified their holdings of ROKU. Geneos Wealth Management Inc. raised its holdings in shares of Roku by 369.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock valued at $25,000 after purchasing an additional 270 shares during the last quarter. Vision Financial Markets LLC bought a new position in Roku in the 4th quarter worth about $30,000. Raelipskie Partnership bought a new stake in Roku during the third quarter valued at approximately $32,000. Game Plan Financial Advisors LLC purchased a new position in Roku in the 4th quarter worth approximately $37,000. Finally, Harvest Fund Management Co. Ltd increased its holdings in shares of Roku by 4,091.7% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company’s stock worth $37,000 after buying an additional 491 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors.

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.