Roku (NASDAQ:ROKU) Given New $110.00 Price Target at Needham & Company LLC

Key Points

• Needham & Company LLC has raised Roku's price target from $100.00 to $110.00, indicating a potential upside of 16.82% from its current price.
• Roku reported $1.11 billion in revenue for the last quarter, exceeding estimates, and posted earnings per share (EPS) of $0.07, beating the consensus estimate of ($0.16).
• According to MarketBeat, Roku has an average rating of "Moderate Buy" from analysts, with a total of eighteen buy ratings and a current price target of $95.42.

Roku (NASDAQ:ROKU - Get Free Report) had its price target upped by Needham & Company LLC from $100.00 to $110.00 in a report released on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. Needham & Company LLC's target price indicates a potential upside of 16.82% from the stock's current price.

A number of other research analysts have also issued reports on the company. Pivotal Research dropped their target price on Roku from $125.00 to $100.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Guggenheim reaffirmed a "buy" rating and set a $100.00 price objective on shares of Roku in a report on Friday, May 2nd. Wall Street Zen raised Roku from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Wells Fargo & Company decreased their target price on Roku from $129.00 to $93.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Finally, Rosenblatt Securities boosted their target price on Roku from $75.00 to $101.00 and gave the stock a "neutral" rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $95.42.

Roku Stock Up 2.3%

ROKU opened at $94.16 on Friday. The firm has a market cap of $13.74 billion, a price-to-earnings ratio of -128.98 and a beta of 2.12. Roku has a 52 week low of $48.33 and a 52 week high of $104.96. The business's 50 day moving average is $83.07 and its two-hundred day moving average is $76.81.

Roku (NASDAQ:ROKU - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.16) by $0.23. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.07 billion. Roku had a negative return on equity of 4.29% and a negative net margin of 2.49%. The company's revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.18) earnings per share. Equities analysts expect that Roku will post -0.3 EPS for the current fiscal year.

Insider Transactions at Roku

In other news, CFO Dan Jedda sold 3,000 shares of the firm's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $90.20, for a total value of $270,600.00. Following the transaction, the chief financial officer directly owned 76,132 shares in the company, valued at $6,867,106.40. This trade represents a 3.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the firm's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $89.64, for a total value of $2,241,000.00. Following the completion of the transaction, the chief executive officer owned 11,953 shares in the company, valued at approximately $1,071,466.92. This trade represents a 67.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 308,873 shares of company stock worth $28,076,913 in the last three months. 13.98% of the stock is currently owned by company insiders.

Institutional Trading of Roku

A number of hedge funds have recently made changes to their positions in the company. OVERSEA CHINESE BANKING Corp Ltd grew its stake in Roku by 7.4% during the 2nd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 3,563 shares of the company's stock valued at $313,000 after purchasing an additional 244 shares in the last quarter. Wealthfront Advisers LLC boosted its position in Roku by 18.0% during the 2nd quarter. Wealthfront Advisers LLC now owns 6,646 shares of the company's stock valued at $584,000 after purchasing an additional 1,012 shares during the period. Brighton Jones LLC acquired a new position in Roku during the 2nd quarter valued at approximately $404,000. RedJay Asset Management Inc. boosted its position in Roku by 10.0% during the 2nd quarter. RedJay Asset Management Inc. now owns 55,000 shares of the company's stock valued at $4,834,000 after purchasing an additional 5,000 shares during the period. Finally, Focus Partners Advisor Solutions LLC bought a new stake in Roku during the 2nd quarter valued at $256,000. Hedge funds and other institutional investors own 86.30% of the company's stock.

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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