Roku (NASDAQ:ROKU) Price Target Cut to $70.00 by Analysts at Citigroup

Roku (NASDAQ:ROKU) had its price target reduced by stock analysts at Citigroup from $75.00 to $70.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price objective suggests a potential upside of 16.49% from the company’s current price.

Several other research analysts have also recently weighed in on the stock. Wells Fargo & Company boosted their price target on shares of Roku from $45.00 to $52.00 and gave the stock an “underweight” rating in a report on Friday. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price objective on shares of Roku in a research report on Friday. Pivotal Research cut their target price on shares of Roku from $85.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, February 16th. 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. Finally, Stephens restated an “overweight” rating and issued a $105.00 price objective on shares of Roku in a report on Friday, February 16th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $84.21.

Roku Trading Up 2.4 %

Shares of ROKU stock traded up $1.43 on Tuesday, hitting $60.09. 3,021,076 shares of the stock were exchanged, compared to its average volume of 5,811,422. The business has a 50-day moving average of $62.53 and a 200 day moving average of $78.50. Roku has a fifty-two week low of $51.62 and a fifty-two week high of $108.84. The firm has a market capitalization of $8.62 billion, a P/E ratio of -15.06 and a beta of 1.66.

Roku (NASDAQ:ROKU) last announced 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. The firm had revenue of $881.50 million for the quarter, compared to analyst estimates of $843.54 million. Roku had a negative net margin of 15.64% and a negative return on equity of 23.73%. The business’s revenue was up 19.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.38) EPS. As a group, research analysts forecast that Roku will post -2.12 EPS for the current fiscal year.

Insider Transactions at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $98.64, for a total transaction of $2,466,000.00. Following the transaction, the chief executive officer now directly owns 141,221 shares of the company’s stock, valued at $13,930,039.44. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Charles Collier sold 12,277 shares of Roku stock in a transaction that occurred 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 directly owns 4,292 shares in the company, valued at approximately $279,237.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction on Monday, February 12th. The shares were sold at an average price of $98.64, for a total value of $2,466,000.00. Following the completion of the transaction, the chief executive officer now owns 141,221 shares in the company, valued at approximately $13,930,039.44. The disclosure for this sale can be found here. Insiders sold 54,545 shares of company stock worth $4,364,035 in the last three months. Corporate insiders own 13.63% of the company’s stock.

Institutional Investors Weigh In On Roku

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Gotham Asset Management LLC lifted its holdings in Roku by 200.3% in the 3rd quarter. Gotham Asset Management LLC now owns 41,128 shares of the company’s stock worth $2,903,000 after purchasing an additional 27,431 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Roku by 8.2% in the fourth quarter. Nordea Investment Management AB now owns 7,247 shares of the company’s stock valued at $669,000 after acquiring an additional 551 shares during the last quarter. Barclays PLC lifted its holdings in Roku by 13.0% during the 3rd quarter. Barclays PLC now owns 215,766 shares of the company’s stock valued at $15,231,000 after purchasing an additional 24,765 shares during the last quarter. Deutsche Bank AG boosted its holdings in Roku by 27.6% in the 3rd quarter. Deutsche Bank AG now owns 154,729 shares of the company’s stock valued at $10,922,000 after purchasing an additional 33,500 shares during the period. Finally, Vontobel Holding Ltd. lifted its stake in Roku by 32.4% during the fourth quarter. Vontobel Holding Ltd. now owns 79,771 shares of the company’s stock worth $7,312,000 after purchasing an additional 19,543 shares during 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.