Roku’s (ROKU) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Roku (NASDAQ:ROKUFree Report) in a report issued on Friday, Benzinga reports. They currently have a $100.00 price objective on the stock.

Other research analysts have also issued research reports about the stock. Jefferies Financial Group initiated coverage on shares of Roku in a report on Thursday, May 2nd. They issued an underperform rating and a $50.00 price objective for the company. Susquehanna lowered their target price on Roku from $110.00 to $80.00 and set a positive rating for the company in a research report on Monday, April 29th. Pivotal Research reduced their price target on Roku from $85.00 to $75.00 and set a hold rating on the stock in a research report on Friday, February 16th. Piper Sandler restated a neutral rating and set a $65.00 price objective (down from $81.00) on shares of Roku in a research report on Friday, April 26th. Finally, Wedbush reduced their target price on Roku from $80.00 to $75.00 and set an outperform rating on the stock in a report on Friday, April 26th. Four investment 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. Based on data from MarketBeat, Roku has an average rating of Hold and a consensus price target of $82.50.

Get Our Latest Research Report on Roku

Roku Trading Down 3.5 %

NASDAQ ROKU opened at $59.27 on Friday. The firm’s 50 day simple moving average is $61.39 and its 200 day simple moving average is $78.27. The firm has a market capitalization of $8.54 billion, a price-to-earnings ratio of -14.85 and a beta of 1.69. Roku has a 1 year low of $52.30 and a 1 year high of $108.84.

Roku (NASDAQ:ROKUGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The company reported ($0.35) earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $843.54 million. During the same period in the prior year, the company earned ($1.38) EPS. Roku’s revenue for the quarter was up 19.0% on a year-over-year basis. On average, equities research analysts forecast that Roku will post -1.94 earnings per share for the current year.

Insider Activity

In related news, insider Charles Collier sold 12,277 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $65.06, for a total transaction of $798,741.62. Following the completion of the sale, the insider now owns 4,292 shares in the company, valued at $279,237.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Charles Collier sold 12,277 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $65.06, for a total transaction of $798,741.62. Following the completion of the transaction, the insider now owns 4,292 shares in the company, valued at approximately $279,237.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey M. Blackburn acquired 8,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was purchased at an average price of $63.96 per share, for a total transaction of $511,680.00. Following the completion of the purchase, the director now directly owns 8,000 shares in the company, valued at approximately $511,680. The disclosure for this purchase can be found here. Insiders sold a total of 29,751 shares of company stock valued at $1,909,835 in the last ninety days. 13.98% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Roku

Several institutional investors have recently made changes to their positions in ROKU. GAMMA Investing LLC purchased a new position in shares of Roku during the fourth quarter worth about $27,000. Creative Financial Designs Inc. ADV purchased a new stake in shares of Roku during the 4th quarter valued at $29,000. Federated Hermes Inc. purchased a new position in Roku in the third quarter worth $37,000. Quarry LP increased its stake in Roku by 160.2% in the fourth quarter. Quarry LP now owns 432 shares of the company’s stock valued at $40,000 after acquiring an additional 266 shares during the last quarter. Finally, Benjamin Edwards Inc. raised its position in Roku by 43.5% during the first quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock valued at $40,000 after purchasing an additional 187 shares in the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

About Roku

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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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