Roku (NASDAQ:ROKU) Receives Buy Rating from Needham & Company LLC

Roku (NASDAQ:ROKU - Get Free Report)'s stock had its "buy" rating restated by equities researchers at Needham & Company LLC in a report released on Monday,Benzinga reports. They currently have a $88.50 price objective on the stock. Needham & Company LLC's price target suggests a potential upside of 45.25% from the company's previous close.

A number of other analysts also recently weighed in on the company. Benchmark reiterated a "buy" rating and set a $130.00 target price on shares of Roku in a research report on Friday, May 2nd. Moffett Nathanson upgraded Roku from a "sell" rating to a "neutral" rating and set a $70.00 target price for the company in a research report on Tuesday, March 4th. Evercore ISI cut their target price on Roku from $105.00 to $80.00 and set an "in-line" rating for the company in a research report on Friday, May 2nd. JMP Securities restated a "market outperform" rating and set a $95.00 price objective on shares of Roku in a research report on Friday, May 2nd. Finally, Citigroup dropped their price objective on Roku from $81.00 to $68.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $87.93.

Roku Trading Down 0.7%

Shares of NASDAQ ROKU opened at $60.93 on Monday. The stock has a 50 day moving average of $66.49 and a 200-day moving average of $74.60. The company has a market capitalization of $8.89 billion, a P/E ratio of -68.46 and a beta of 2.06. Roku has a 12 month low of $48.33 and a 12 month high of $104.96.

Roku (NASDAQ:ROKU - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share (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 return on equity of 5.34% and a negative net margin of 3.15%. The firm's quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.35) EPS. Analysts predict that Roku will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling

In other Roku news, CFO Dan Jedda sold 5,000 shares of the firm's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $100.40, for a total value of $502,000.00. Following the completion of the sale, the chief financial officer now directly owns 58,555 shares of the company's stock, valued at $5,878,922. This trade represents a 7.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Anthony J. Wood sold 25,000 shares of the firm's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $100.40, for a total value of $2,510,000.00. Following the completion of the sale, the chief executive officer now directly owns 26,538 shares of the company's stock, valued at $2,664,415.20. This represents a 48.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,111 shares of company stock worth $4,377,112. 13.98% of the stock is owned by company insiders.

Institutional Trading of Roku

Large investors have recently bought and sold shares of the company. Entropy Technologies LP increased its position in Roku by 264.4% in the fourth quarter. Entropy Technologies LP now owns 25,525 shares of the company's stock worth $1,898,000 after buying an additional 18,520 shares during the last quarter. Geode Capital Management LLC grew its position in shares of 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 purchasing an additional 56,820 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position 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 valued at $73,661,000 after purchasing an additional 34,898 shares in the last quarter. Achmea Investment Management B.V. grew its position in shares of Roku by 146.4% in the fourth quarter. Achmea Investment Management B.V. now owns 10,168 shares of the company's stock valued at $756,000 after purchasing an additional 6,042 shares in the last quarter. Finally, Allstate Corp purchased a new position in shares of Roku in the fourth quarter valued at $275,000. 86.30% of the stock is owned by hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.