Roku (NASDAQ:ROKU) Given New $100.00 Price Target at Needham & Company LLC

Roku (NASDAQ:ROKU - Get Free Report) had its target price lifted by Needham & Company LLC from $88.50 to $100.00 in a research report issued on Wednesday, MarketBeat Ratings reports. The brokerage presently has a "buy" rating on the stock. Needham & Company LLC's price objective would indicate a potential upside of 10.80% from the stock's previous close.

ROKU has been the topic of several other research reports. Loop Capital raised Roku from a "hold" rating to a "buy" rating and raised their price target for the stock from $80.00 to $100.00 in a report on Tuesday, June 17th. Pivotal Research reduced their target price on shares of Roku from $125.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Evercore ISI reduced their target price on shares of Roku from $105.00 to $80.00 and set an "in-line" rating for the company in a research note on Friday, May 2nd. Rosenblatt Securities reduced their target price on shares of Roku from $100.00 to $75.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Finally, Guggenheim reissued a "buy" rating and set a $100.00 target price on shares of Roku in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $92.67.

Roku Stock Up 1.8%

Shares of NASDAQ:ROKU traded up $1.62 on Wednesday, reaching $90.25. 3,050,706 shares of the company's stock were exchanged, compared to its average volume of 3,841,114. The firm has a market capitalization of $13.17 billion, a price-to-earnings ratio of -123.63 and a beta of 2.12. Roku has a fifty-two week low of $48.33 and a fifty-two week high of $104.96. The business's 50-day moving average is $76.24 and its two-hundred day moving average is $75.59.

Roku (NASDAQ:ROKU - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, topping analysts' consensus estimates of ($0.27) by $0.08. The company had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. Roku had a negative net margin of 2.49% and a negative return on equity of 4.29%. The firm's revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.35) earnings per share. Analysts predict that Roku will post -0.3 earnings per share for the current fiscal year.

Insider Transactions at Roku

In other news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $89.64, for a total transaction of $2,241,000.00. Following the completion of the sale, the chief executive officer owned 11,953 shares in the company, valued at approximately $1,071,466.92. This represents a 67.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mai Fyfield sold 914 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $78.50, for a total value of $71,749.00. Following the sale, the director owned 4,374 shares of the company's stock, valued at $343,359. This trade represents a 17.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold 90,520 shares of company stock valued at $7,357,094 in the last quarter. 13.98% of the stock is owned by company insiders.

Institutional Investors Weigh In On Roku

A number of institutional investors and hedge funds have recently modified their holdings of ROKU. US Bancorp DE lifted its position in shares of Roku by 55.8% during the 4th quarter. US Bancorp DE now owns 4,813 shares of the company's stock valued at $358,000 after acquiring an additional 1,723 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Roku by 44.6% in the fourth quarter. Jones Financial Companies Lllp now owns 4,479 shares of the company's stock worth $333,000 after buying an additional 1,382 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Roku by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 990,867 shares of the company's stock worth $73,661,000 after buying an additional 34,898 shares during the period. M&T Bank Corp boosted its holdings in shares of Roku by 7.2% in the fourth quarter. M&T Bank Corp now owns 7,527 shares of the company's stock worth $560,000 after buying an additional 503 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in shares of Roku in the fourth quarter worth about $3,377,000. Institutional investors and hedge funds 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.