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

Roku (NASDAQ:ROKU)‘s stock had its “buy” rating restated by Needham & Company LLC in a research note issued on Friday, Benzinga reports. They currently have a $100.00 target price on the stock. Needham & Company LLC’s price target points to a potential upside of 59.21% from the stock’s previous close.

ROKU has been the topic of several other research reports. Benchmark reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Roku in a research note on Friday, April 19th. Stephens reiterated an “overweight” rating and set a $105.00 target price on shares of Roku in a research report on Friday, February 16th. Susquehanna increased their target price on Roku from $100.00 to $110.00 and gave the stock a “positive” rating in a research report on Friday, February 16th. Oppenheimer cut Roku from an “outperform” rating to a “market perform” rating in a research report on Friday, February 16th. Finally, Morgan Stanley cut their target price on Roku from $65.00 to $60.00 and set an “underweight” rating for the company in a research report on Friday, April 5th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $85.05.

Roku Stock Performance

ROKU stock opened at $62.81 on Friday. Roku has a fifty-two week low of $51.62 and a fifty-two week high of $108.84. The business’s 50-day moving average is $63.11 and its two-hundred day moving average is $78.59. The company has a market cap of $9.01 billion, a price-to-earnings ratio of -12.51 and a beta of 1.66.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, April 25th. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.29. Roku had a negative return on equity of 29.21% and a negative net margin of 20.36%. The company had revenue of $881.50 million for the quarter, compared to the consensus estimate of $843.54 million. During the same quarter in the prior year, the company earned ($1.38) earnings per share. Roku’s revenue was up 19.0% on a year-over-year basis. Equities analysts predict that Roku will post -2.12 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $98.64, for a total transaction of $2,466,000.00. Following the completion of the sale, the chief executive officer now directly owns 141,221 shares of the company’s stock, valued at approximately $13,930,039.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $98.64, for a total value of $2,466,000.00. Following the completion of the transaction, the chief executive officer now directly owns 141,221 shares of the company’s stock, valued at approximately $13,930,039.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Stephen H. Kay sold 4,310 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $63.20, for a total value of $272,392.00. Following the completion of the transaction, the senior vice president now directly owns 81,459 shares of the company’s stock, valued at $5,148,208.80. The disclosure for this sale can be found here. In the last three months, insiders sold 54,545 shares of company stock valued at $4,364,035. Insiders own 13.63% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC purchased a new position in Roku during the 4th quarter worth $27,000. Creative Financial Designs Inc. ADV purchased a new stake in Roku during the 4th quarter valued at about $29,000. Federated Hermes Inc. purchased a new stake in Roku during the 3rd quarter valued at about $37,000. Quarry LP grew its stake in Roku by 160.2% during the 4th quarter. Quarry LP now owns 432 shares of the company’s stock valued at $40,000 after purchasing an additional 266 shares during the last quarter. Finally, Headinvest LLC purchased a new stake in Roku during the 3rd quarter valued at about $42,000. 86.30% of the stock is currently owned by hedge funds and other 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.