Needham & Company LLC Boosts Roku (NASDAQ:ROKU) Price Target to $100.00

Roku (NASDAQ:ROKU - Get Free Report) had its target price boosted by investment analysts at Needham & Company LLC from $88.50 to $100.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Needham & Company LLC's price target points to a potential upside of 13.46% from the stock's previous close.

A number of other equities research analysts also recently issued reports on ROKU. Redburn Atlantic upgraded shares of Roku from a "neutral" rating to a "buy" rating and set a $100.00 target price for the company in a research report on Monday, April 7th. FBN Securities began coverage on shares of Roku in a report on Friday, March 28th. They set an "outperform" rating and a $93.00 price target on the stock. Compass Point began coverage on shares of Roku in a report on Sunday, March 23rd. They set a "buy" rating on the stock. UBS Group cut their price target on shares of Roku from $90.00 to $72.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Finally, Piper Sandler started coverage on Roku in a report on Thursday, April 17th. They set a "neutral" rating and a $65.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $90.87.

Roku Stock Performance

Shares of NASDAQ:ROKU opened at $88.14 on Wednesday. The stock has a market capitalization of $12.86 billion, a price-to-earnings ratio of -120.74 and a beta of 2.12. Roku has a 1-year low of $48.33 and a 1-year high of $104.96. The company has a 50 day moving average price of $75.37 and a 200 day moving average price of $75.42.

Roku (NASDAQ:ROKU - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.08. The business 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 2.49% and a negative return on equity of 4.29%. The firm's quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.35) EPS. On average, sell-side analysts expect that Roku will post -0.3 EPS for the current fiscal year.

Insider Transactions at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the sale, the chief executive officer directly owned 6,243 shares of the company's stock, valued at $468,225. The trade was a 80.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Mai Fyfield sold 914 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $78.50, for a total transaction of $71,749.00. Following the sale, the director directly owned 4,374 shares of the company's stock, valued at approximately $343,359. This trade represents a 17.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,020 shares of company stock valued at $4,979,594. 13.98% of the stock is owned by company insiders.

Institutional Investors Weigh In On Roku

Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC raised its holdings in Roku by 31.7% in the fourth quarter. FMR LLC now owns 19,183,942 shares of the company's stock worth $1,426,134,000 after purchasing an additional 4,613,570 shares during the period. Vanguard Group Inc. grew its position in Roku by 2.1% in the first quarter. Vanguard Group Inc. now owns 12,503,595 shares of the company's stock valued at $880,753,000 after purchasing an additional 254,504 shares in the last quarter. Marshall Wace LLP lifted its stake in Roku by 663.9% in the fourth quarter. Marshall Wace LLP now owns 2,335,813 shares of the company's stock valued at $173,644,000 after acquiring an additional 2,030,036 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Roku by 10.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,269,751 shares of the company's stock valued at $168,734,000 after acquiring an additional 215,841 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Roku by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company's stock valued at $159,353,000 after acquiring an additional 56,820 shares during the last quarter. 86.30% of the stock is 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.

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