Needham & Company LLC Increases Roku (NASDAQ:ROKU) Price Target to $150.00

Roku (NASDAQ:ROKU) had its price objective increased by Needham & Company LLC from $120.00 to $150.00 in a research note published on Monday morning, Briefing.com Automated Import reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on the stock. BidaskClub raised shares of Roku from a hold rating to a buy rating in a research note on Saturday. Macquarie reissued a neutral rating and issued a $110.00 price target (up previously from $66.00) on shares of Roku in a research note on Thursday, August 8th. Morgan Stanley lifted their price target on shares of Roku from $46.00 to $70.00 and gave the company an equal weight rating in a research note on Friday, May 10th. Vertical Group raised shares of Roku from a mixed rating to a positive rating in a research note on Wednesday, August 7th. Finally, Stephens raised shares of Roku from an equal rating to an overweight rating and lifted their price target for the company from $84.00 to $120.00 in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $102.98.

Shares of NASDAQ ROKU traded up $3.85 during midday trading on Monday, reaching $138.15. 9,023,796 shares of the stock were exchanged, compared to its average volume of 9,691,125. The company has a market capitalization of $14.21 billion, a price-to-earnings ratio of -1,726.88 and a beta of 2.04. Roku has a twelve month low of $26.30 and a twelve month high of $136.55. The firm has a 50-day moving average price of $104.09.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.14. Roku had a negative net margin of 2.41% and a negative return on equity of 7.91%. The firm had revenue of $250.10 million for the quarter, compared to analysts’ expectations of $223.36 million. The company’s quarterly revenue was up 59.5% compared to the same quarter last year. On average, equities research analysts forecast that Roku will post -0.58 earnings per share for the current year.

In other news, VP Scott A. Rosenberg sold 3,356 shares of Roku stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $94.60, for a total transaction of $317,477.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Anthony J. Wood sold 35,000 shares of Roku stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $90.52, for a total value of $3,168,200.00. The disclosure for this sale can be found here. Insiders sold a total of 639,733 shares of company stock worth $64,560,402 in the last 90 days. 22.70% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its position in Roku by 100.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 400 shares of the company’s stock valued at $25,000 after acquiring an additional 200 shares in the last quarter. Joseph P. Lucia & Associates LLC acquired a new position in Roku in the 2nd quarter valued at about $43,000. Flagship Harbor Advisors LLC grew its position in Roku by 64.5% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 477 shares of the company’s stock valued at $43,000 after acquiring an additional 187 shares in the last quarter. James Investment Research Inc. acquired a new position in Roku in the 1st quarter valued at about $32,000. Finally, CWM LLC acquired a new position in Roku in the 1st quarter valued at about $32,000. Institutional investors and hedge funds own 50.30% of the company’s stock.

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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