Roku (NASDAQ:ROKU) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Roku (NASDAQ:ROKU) in a report released on Monday morning,Benzinga reports. Needham & Company LLC currently has a $88.50 target price on the stock.

Other analysts also recently issued reports about the stock. Jefferies Financial Group upgraded shares of Roku from an “underperform” rating to a “hold” rating and boosted their target price for the stock from $55.00 to $100.00 in a report on Thursday, February 20th. Compass Point initiated coverage on Roku in a report on Sunday, March 23rd. They issued a “buy” rating for the company. FBN Securities assumed coverage on Roku in a report on Friday, March 28th. They set an “outperform” rating and a $93.00 price target on the stock. JMP Securities lifted their price objective on shares of Roku from $95.00 to $115.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. Finally, Citigroup raised shares of Roku from a “neutral” rating to an “outperform” rating in a research note on Sunday, March 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.33.

Roku Stock Down 1.2 %

Shares of Roku stock opened at $59.50 on Monday. Roku has a 52 week low of $48.33 and a 52 week high of $104.96. The stock’s 50-day simple moving average is $76.05 and its 200-day simple moving average is $76.49. The company has a market capitalization of $8.68 billion, a price-to-earnings ratio of -66.85 and a beta of 2.17.

Roku (NASDAQ:ROKU) last posted its quarterly 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. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.15 billion. On average, equities analysts expect that Roku will post -0.3 earnings per share for the current year.

Insider Transactions at Roku

In related news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $77.18, for a total value of $77,180.00. Following the completion of the transaction, the chief financial officer now owns 63,555 shares in the company, valued at $4,905,174.90. The trade was a 1.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Anthony J. Wood sold 4,600 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $345,000.00. Following the transaction, the chief executive officer now owns 6,243 shares in the company, valued at $468,225. This represents a 42.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 72,905 shares of company stock valued at $6,638,056 in the last 90 days. 13.98% of the stock is currently owned by company insiders.

Institutional Trading of Roku

Several institutional investors have recently modified their holdings of the stock. Geneos Wealth Management Inc. raised its holdings in shares of Roku by 369.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock valued at $25,000 after acquiring an additional 270 shares during the last quarter. Vision Financial Markets LLC acquired a new position in Roku in the 4th quarter valued at $30,000. Princeton Global Asset Management LLC purchased a new position in Roku in the 1st quarter valued at $35,000. Game Plan Financial Advisors LLC acquired a new stake in Roku during the 4th quarter worth $37,000. Finally, Harvest Fund Management Co. Ltd grew its holdings in shares of Roku by 4,091.7% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company’s stock worth $37,000 after buying an additional 491 shares in the last quarter. Institutional investors and hedge funds 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.