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

Roku (NASDAQ:ROKU - Get Free Report)'s stock had its "buy" rating reiterated by stock analysts at Needham & Company LLC in a research report issued on Thursday,Benzinga reports. They presently have a $100.00 price objective on the stock. Needham & Company LLC's price objective suggests a potential upside of 10.96% from the stock's current price.

Several other brokerages also recently weighed in on ROKU. Wedbush reiterated an "outperform" rating and issued a $100.00 price objective on shares of Roku in a research report on Monday, June 16th. JMP Securities upped their price target on Roku from $95.00 to $110.00 and gave the stock a "market outperform" rating in a research note on Monday, July 21st. JPMorgan Chase & Co. upped their price target on Roku from $85.00 to $100.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Guggenheim reissued a "buy" rating and issued a $100.00 target price on shares of Roku in a research note on Friday, May 2nd. Finally, Piper Sandler increased their target price on Roku from $65.00 to $84.00 and gave the stock a "neutral" rating in a research note on Thursday, July 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Roku currently has a consensus rating of "Moderate Buy" and a consensus target price of $93.92.

Roku Trading Up 0.1%

Shares of ROKU traded up $0.07 during trading hours on Thursday, reaching $90.12. 1,970,827 shares of the company's stock traded hands, compared to its average volume of 2,576,802. The stock has a market cap of $13.15 billion, a PE ratio of -123.45 and a beta of 2.12. The firm's 50 day simple moving average is $81.78 and its 200-day simple moving average is $76.60. 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 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 during the quarter, compared to the consensus estimate of $1.01 billion. Roku had a negative return on equity of 4.29% and a negative net margin of 2.49%. Roku's quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.35) EPS. As a group, analysts expect that Roku will post -0.3 earnings per share for the current fiscal year.

Insider Transactions at Roku

In related news, CFO Dan Jedda sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $90.20, for a total transaction of $270,600.00. Following the completion of the sale, the chief financial officer directly owned 76,132 shares of the company's stock, valued at approximately $6,867,106.40. This trade represents a 3.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 11,953 shares of the company's stock, valued at $1,071,466.92. This represents a 67.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 309,079 shares of company stock worth $28,091,399. 13.98% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Roku

A number of institutional investors and hedge funds have recently modified their holdings of the business. Garde Capital Inc. bought a new stake in Roku during the 1st quarter valued at $25,000. Banque Transatlantique SA bought a new stake in Roku during the 1st quarter valued at $28,000. Beaird Harris Wealth Management LLC bought a new stake in Roku during the 1st quarter valued at $30,000. Golden State Wealth Management LLC raised its position in 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 purchasing an additional 247 shares in the last quarter. Finally, Princeton Global Asset Management LLC bought a new stake in Roku during the 1st quarter valued at $35,000. 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.