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

Needham & Company LLC reaffirmed their buy rating on shares of Roku (NASDAQ:ROKU - Free Report) in a report released on Thursday,Benzinga reports. The firm currently has a $88.50 target price on the stock.

A number of other research analysts have also issued reports on ROKU. FBN Securities started coverage on shares of Roku in a research note on Friday, March 28th. They set an "outperform" rating and a $93.00 target price for the company. Bank of America started coverage on Roku in a report on Thursday, March 27th. They issued a "buy" rating and a $100.00 price objective for the company. Citizens Jmp raised Roku to a "strong-buy" rating in a research note on Tuesday, January 21st. Piper Sandler initiated coverage on Roku in a research note on Thursday, April 17th. They issued a "neutral" rating and a $65.00 price target for the company. Finally, JMP Securities restated a "market outperform" rating and set a $95.00 price objective on shares of Roku in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Roku has an average rating of "Moderate Buy" and an average price target of $89.93.

Roku Stock Up 3.7 %

Shares of NASDAQ:ROKU traded up $2.43 during trading on Thursday, hitting $68.14. 3,561,396 shares of the company traded hands, compared to its average volume of 3,715,515. The stock has a market capitalization of $9.94 billion, a price-to-earnings ratio of -76.56 and a beta of 2.17. Roku has a one year low of $48.33 and a one year high of $104.96. The business's fifty day moving average is $70.99 and its 200-day moving average is $75.52.

Roku (NASDAQ:ROKU - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.20. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.15 billion. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. On average, analysts forecast that Roku will post -0.3 EPS for the current year.

Insider Buying and Selling at Roku

In other news, CFO Dan Jedda sold 5,000 shares of the company's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $100.40, for a total transaction of $502,000.00. Following the completion of the transaction, the chief financial officer now owns 58,555 shares of the company's stock, valued at approximately $5,878,922. This represents a 7.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $87.93, for a total value of $2,198,250.00. Following the sale, the chief executive officer now directly owns 26,538 shares in the company, valued at approximately $2,333,486.34. This trade represents a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,905 shares of company stock valued at $6,560,876 in the last three months. 13.98% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Roku

Several large investors have recently added to or reduced their stakes in ROKU. Geneos Wealth Management Inc. lifted its position in Roku by 369.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 343 shares of the company's stock worth $25,000 after purchasing an additional 270 shares during the period. Garde Capital Inc. acquired a new position in shares of Roku in the 1st quarter valued at $25,000. Vision Financial Markets LLC bought a new position in shares of Roku during the 4th quarter worth about $30,000. Golden State Wealth Management LLC boosted its position in shares of Roku by 125.4% during the 1st quarter. Golden State Wealth Management LLC now owns 444 shares of the company's stock valued at $31,000 after acquiring an additional 247 shares in the last quarter. Finally, Game Plan Financial Advisors LLC acquired a new stake in shares of Roku during the 4th quarter valued at about $37,000. 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.