Needham & Company LLC Reaffirms "Buy" Rating for Roku (NASDAQ:ROKU)

Roku (NASDAQ:ROKU - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at Needham & Company LLC in a note issued to investors on Friday, Benzinga reports. They currently have a $100.00 target price on the stock. Needham & Company LLC's price target indicates a potential upside of 62.76% from the stock's current price.

Other research analysts also recently issued research reports about the company. Jefferies Financial Group began coverage on Roku in a research note on Thursday, May 2nd. They issued an "underperform" rating and a $50.00 target price for the company. Pivotal Research reduced their price objective on shares of Roku from $85.00 to $75.00 and set a "hold" rating for the company in a research note on Friday, February 16th. Seaport Res Ptn upgraded shares of Roku from a "neutral" rating to a "buy" rating in a research note on Monday, April 29th. Rosenblatt Securities reissued a "neutral" rating and issued a $89.00 price target on shares of Roku in a report on Friday, April 26th. Finally, Oppenheimer cut shares of Roku from an "outperform" rating to a "market perform" rating in a report on Friday, February 16th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $82.50.

Roku Stock Up 0.3 %

Roku stock traded up $0.19 during trading on Friday, hitting $61.44. The stock had a trading volume of 1,954,820 shares, compared to its average volume of 5,541,467. Roku has a 1 year low of $51.75 and a 1 year high of $108.84. The stock's 50 day moving average is $61.49 and its two-hundred day moving average is $78.14. The stock has a market cap of $8.86 billion, a price-to-earnings ratio of -15.40 and a beta of 1.69.

Roku (NASDAQ:ROKU - Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.64) by $0.29. The business had revenue of $881.50 million for the quarter, compared to the consensus estimate of $843.54 million. Roku had a negative return on equity of 23.81% and a negative net margin of 15.64%. Roku's revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.38) earnings per share. As a group, equities research analysts anticipate that Roku will post -1.94 EPS for the current fiscal year.

Insider Activity

In related news, Director Jeffrey M. Blackburn bought 8,000 shares of the stock in a transaction dated Wednesday, March 13th. The stock was bought at an average price of $63.96 per share, with a total value of $511,680.00. Following the purchase, the director now owns 8,000 shares in the company, valued at approximately $511,680. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Charles Collier sold 12,277 shares of the business's stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $65.06, for a total value of $798,741.62. Following the completion of the sale, the insider now owns 4,292 shares of the company's stock, valued at approximately $279,237.52. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jeffrey M. Blackburn bought 8,000 shares of the stock in a transaction dated Wednesday, March 13th. The stock was bought at an average cost of $63.96 per share, with a total value of $511,680.00. Following the purchase, the director now owns 8,000 shares in the company, valued at approximately $511,680. The disclosure for this purchase can be found here. In the last quarter, insiders sold 29,751 shares of company stock valued at $1,909,835. Insiders own 13.63% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ROKU. FMR LLC raised its position in Roku by 85.9% during the 3rd quarter. FMR LLC now owns 9,441,349 shares of the company's stock valued at $666,465,000 after purchasing an additional 4,363,754 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in Roku by 24.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company's stock valued at $478,939,000 after purchasing an additional 1,457,925 shares during the last quarter. Nikko Asset Management Americas Inc. raised its position in Roku by 25.8% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company's stock valued at $462,108,000 after purchasing an additional 1,455,408 shares during the last quarter. Norges Bank bought a new position in Roku during the 4th quarter valued at approximately $90,386,000. Finally, Lord Abbett & CO. LLC bought a new position in Roku during the 3rd quarter valued at approximately $55,182,000. Institutional investors own 86.30% of the company's stock.

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.