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

Needham & Company LLC restated their buy rating on shares of Roku (NASDAQ:ROKU) in a report issued on Thursday,Benzinga reports. The brokerage currently has a $88.50 price target on the stock.

A number of other research analysts have also weighed in on the company. Moffett Nathanson raised Roku from a “sell” rating to a “neutral” rating and set a $70.00 price objective for the company in a research report on Tuesday, March 4th. FBN Securities began coverage on Roku in a report on Friday, March 28th. They set an “outperform” rating and a $93.00 price target for the company. JMP Securities reiterated a “market outperform” rating and issued a $95.00 price target on shares of Roku in a research note on Thursday. Jefferies Financial Group upgraded shares of Roku from an “underperform” rating to a “hold” rating and raised their price objective for the company from $55.00 to $100.00 in a research note on Thursday, February 20th. Finally, Pivotal Research upgraded shares of Roku from a “hold” rating to a “buy” rating and upped their target price for the stock from $65.00 to $125.00 in a research note on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $91.50.

Roku Trading Up 1.6 %

Shares of ROKU stock opened at $65.71 on Thursday. The company’s fifty day moving average price is $70.99 and its 200-day moving average price is $75.53. The stock has a market cap of $9.59 billion, a PE ratio of -73.83 and a beta of 2.17. Roku has a 12 month low of $48.33 and a 12 month high of $104.96.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.20. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.15 billion. On average, sell-side analysts forecast that Roku will post -0.3 earnings per share for the current fiscal year.

Insider Activity at Roku

In other news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $87.93, for a total transaction of $2,198,250.00. Following the completion of the sale, the chief executive officer now owns 26,538 shares of the company’s stock, valued at $2,333,486.34. The trade was a 48.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Dan Jedda sold 5,000 shares of the company’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 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,905 shares of company stock worth $6,560,876. 13.98% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. FMR LLC lifted its holdings in Roku by 31.7% during the fourth quarter. FMR LLC now owns 19,183,942 shares of the company’s stock valued at $1,426,134,000 after purchasing an additional 4,613,570 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Roku by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 12,249,091 shares of the company’s stock valued at $910,597,000 after purchasing an additional 185,676 shares during the period. Marshall Wace LLP lifted its stake in shares of Roku by 663.9% during the 4th quarter. Marshall Wace LLP now owns 2,335,813 shares of the company’s stock valued at $173,644,000 after buying an additional 2,030,036 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Roku by 10.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,269,751 shares of the company’s stock worth $168,734,000 after buying an additional 215,841 shares during the period. Finally, Geode Capital Management LLC increased its stake in Roku by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company’s stock worth $159,353,000 after buying an additional 56,820 shares in the last quarter. 86.30% of the stock is currently 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.