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

Needham & Company LLC reissued their buy rating on shares of Roku (NASDAQ:ROKUFree Report) in a report published on Thursday, Benzinga reports. The brokerage currently has a $100.00 price target on the stock.

ROKU has been the topic of several other reports. Susquehanna dropped their target price on shares of Roku from $110.00 to $80.00 and set a positive rating on the stock in a research report on Monday, April 29th. Wedbush cut their target price on shares of Roku from $80.00 to $75.00 and set an outperform rating on the stock in a research note on Friday, April 26th. Rosenblatt Securities reaffirmed a neutral rating and issued a $89.00 target price on shares of Roku in a research report on Friday, April 26th. Wells Fargo & Company upped their price target on Roku from $45.00 to $52.00 and gave the company an underweight rating in a research report on Friday, April 26th. Finally, Jefferies Financial Group assumed coverage on shares of Roku in a research note on Thursday, May 2nd. They set an underperform rating and a $50.00 target price for the company. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus target price of $82.50.

Check Out Our Latest Report on Roku

Roku Price Performance

NASDAQ ROKU opened at $54.40 on Thursday. The company has a market capitalization of $7.84 billion, a P/E ratio of -13.63 and a beta of 1.92. Roku has a 12 month low of $51.51 and a 12 month high of $108.84. The company’s 50 day simple moving average is $58.04 and its 200 day simple moving average is $71.93.

Roku (NASDAQ:ROKUGet Free Report) last issued its earnings results on Thursday, April 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.29. Roku had a negative return on equity of 23.81% and a negative net margin of 15.64%. The business had revenue of $881.50 million for the quarter, compared to analysts’ expectations of $843.54 million. During the same period in the previous year, the firm posted ($1.38) EPS. The company’s quarterly revenue was up 19.0% on a year-over-year basis. On average, analysts anticipate that Roku will post -1.94 earnings per share for the current year.

Insider Activity at Roku

In other Roku news, Director Mai Fyfield sold 650 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $57.88, for a total value of $37,622.00. Following the sale, the director now directly owns 3,259 shares in the company, valued at approximately $188,630.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Stephen H. Kay sold 12,124 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $55.59, for a total value of $673,973.16. Following the completion of the transaction, the senior vice president now directly owns 91,905 shares in the company, valued at $5,108,998.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mai Fyfield sold 650 shares of Roku stock in a transaction on Monday, June 10th. The stock was sold at an average price of $57.88, for a total transaction of $37,622.00. Following the sale, the director now owns 3,259 shares in the company, valued at approximately $188,630.92. The disclosure for this sale can be found here. Insiders sold a total of 23,898 shares of company stock worth $1,347,966 in the last ninety days. 13.98% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Roku

Hedge funds and other institutional investors have recently made changes to their positions in the business. Harbour Investments Inc. raised its position in Roku by 3.3% in the third quarter. Harbour Investments Inc. now owns 3,499 shares of the company’s stock worth $247,000 after purchasing an additional 113 shares in the last quarter. Avantax Advisory Services Inc. raised its holdings in shares of Roku by 0.9% in the 4th quarter. Avantax Advisory Services Inc. now owns 12,949 shares of the company’s stock worth $1,187,000 after buying an additional 117 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Roku by 0.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 50,971 shares of the company’s stock worth $4,415,000 after buying an additional 150 shares during the period. Benjamin Edwards Inc. boosted its stake in Roku by 43.5% in the 1st quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock valued at $40,000 after buying an additional 187 shares in the last quarter. Finally, Amalgamated Bank grew its position in Roku by 1.0% in the fourth quarter. Amalgamated Bank now owns 19,820 shares of the company’s stock valued at $1,817,000 after acquiring an additional 191 shares during the period. 86.30% of the stock is owned by institutional investors.

Roku Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Roku (NASDAQ:ROKU)

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