Roku (NASDAQ:ROKU) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Roku (NASDAQ:ROKU) had its target price lifted by equities research analysts at Needham & Company LLC from $88.50 to $100.00 in a research report issued on Wednesday, MarketBeat.com reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective points to a potential upside of 10.80% from the company’s previous close.

Several other equities analysts have also issued reports on ROKU. Redburn Atlantic upgraded Roku from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Monday, April 7th. Bank of America raised their price target on Roku from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, July 3rd. Guggenheim restated a “buy” rating and set a $100.00 price target on shares of Roku in a research report on Friday, May 2nd. Benchmark restated a “buy” rating and set a $130.00 price target on shares of Roku in a research report on Friday, May 2nd. Finally, Loop Capital upgraded Roku from a “hold” rating to a “buy” rating and raised their price target for the stock from $80.00 to $100.00 in a research report on Tuesday, June 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $92.67.

Roku Trading Up 1.8%

Shares of NASDAQ ROKU opened at $90.25 on Wednesday. The stock has a market cap of $13.17 billion, a price-to-earnings ratio of -123.63 and a beta of 2.12. Roku has a 1-year low of $48.33 and a 1-year high of $104.96. The stock’s 50-day moving average is $76.24 and its 200 day moving average is $75.59.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.08. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Roku had a negative return on equity of 4.29% and a negative net margin of 2.49%. Roku’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.35) EPS. On average, analysts forecast that Roku will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling at Roku

In other Roku news, Director Mai Fyfield sold 914 shares of Roku stock in a transaction on Friday, June 6th. The stock was sold at an average price of $78.50, for a total transaction of $71,749.00. Following the completion of the transaction, the director owned 4,374 shares in the company, valued at approximately $343,359. The trade was a 17.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Dan Jedda sold 1,500 shares of Roku stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $91.00, for a total value of $136,500.00. Following the transaction, the chief financial officer owned 79,132 shares of the company’s stock, valued at $7,201,012. The trade was a 1.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 90,520 shares of company stock valued at $7,357,094 in the last ninety days. Corporate insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Polianta Ltd raised its stake in shares of Roku by 20.3% in the second quarter. Polianta Ltd now owns 17,200 shares of the company’s stock worth $1,511,000 after purchasing an additional 2,900 shares during the last quarter. Vista Investment Partners LLC raised its stake in shares of Roku by 3.5% in the second quarter. Vista Investment Partners LLC now owns 8,986 shares of the company’s stock worth $790,000 after purchasing an additional 300 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Roku by 56.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 16,777 shares of the company’s stock worth $1,481,000 after purchasing an additional 6,030 shares during the last quarter. Stonekeep Investments LLC raised its stake in shares of Roku by 4.9% in the second quarter. Stonekeep Investments LLC now owns 4,084 shares of the company’s stock worth $359,000 after purchasing an additional 191 shares during the last quarter. Finally, Pallas Capital Advisors LLC raised its stake in shares of Roku by 69.1% in the second quarter. Pallas Capital Advisors LLC now owns 5,781 shares of the company’s stock worth $508,000 after purchasing an additional 2,363 shares during the last quarter. 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.