Roku (NASDAQ:ROKU) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Roku (NASDAQ:ROKU) in a report published on Thursday, AnalystRatings.com reports. The brokerage currently has a $150.00 price target on the stock.

A number of other equities analysts also recently commented on ROKU. Stephens upgraded Roku from an equal rating to an overweight rating and increased their price objective for the stock from $84.00 to $120.00 in a report on Thursday, August 8th. ValuEngine downgraded Roku from a sell rating to a strong sell rating in a report on Wednesday, October 2nd. Vertical Group raised Roku from a mixed rating to a positive rating in a research report on Wednesday, August 7th. SunTrust Banks upped their target price on Roku from $63.00 to $160.00 and gave the stock a hold rating in a research report on Monday, September 9th. They noted that the move was a valuation call. Finally, Guggenheim upped their target price on Roku from $119.00 to $170.00 and gave the stock a buy rating in a research report on Wednesday, September 18th. Four research analysts have rated the stock with a sell rating, three have given a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $120.48.

NASDAQ ROKU traded up $3.48 on Thursday, reaching $121.94. The company’s stock had a trading volume of 19,209,400 shares, compared to its average volume of 14,366,427. The stock has a market cap of $16.22 billion, a PE ratio of -1,524.25 and a beta of 1.77. Roku has a twelve month low of $26.30 and a twelve month high of $176.55. The firm’s 50 day moving average is $122.41 and its two-hundred day moving average is $110.52.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.06. Roku had a negative return on equity of 6.77% and a negative net margin of 2.41%. The firm had revenue of $260.90 million for the quarter, compared to the consensus estimate of $257.64 million. During the same quarter in the prior year, the company posted ($0.09) earnings per share. The firm’s revenue was up 50.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Roku will post -0.5 EPS for the current fiscal year.

In other news, SVP Stephen H. Kay sold 12,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $137.75, for a total value of $1,653,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Anthony J. Wood sold 35,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $139.57, for a total value of $4,884,950.00. Insiders have sold 180,419 shares of company stock valued at $24,801,276 in the last ninety days. Company insiders own 22.70% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of ROKU. CENTRAL TRUST Co boosted its position in shares of Roku by 47.5% in the third quarter. CENTRAL TRUST Co now owns 295 shares of the company’s stock valued at $30,000 after acquiring an additional 95 shares during the period. MCF Advisors LLC bought a new stake in shares of Roku in the third quarter valued at approximately $31,000. Catalyst Capital Advisors LLC boosted its position in shares of Roku by 59.4% in the third quarter. Catalyst Capital Advisors LLC now owns 322 shares of the company’s stock valued at $33,000 after acquiring an additional 120 shares during the period. Executive Wealth Management LLC boosted its position in shares of Roku by 1,110.3% in the third quarter. Executive Wealth Management LLC now owns 351 shares of the company’s stock valued at $35,000 after acquiring an additional 322 shares during the period. Finally, Flagship Harbor Advisors LLC boosted its position in shares of Roku by 64.5% in the second quarter. Flagship Harbor Advisors LLC now owns 477 shares of the company’s stock valued at $43,000 after acquiring an additional 187 shares during the period. 52.94% of the stock is owned by institutional investors.

About Roku

Roku, Inc operates a TV streaming platform. The company operates in two segments, Platform and Player. Its platform allows users to discover and access various movies and TV episodes, as well as live sports, music, news, and others. As of December 31, 2018, the company had 27.1 million active accounts.

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Analyst Recommendations for Roku (NASDAQ:ROKU)

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