Roku (NASDAQ:ROKU) Price Target Lowered to $70.00 at Citigroup

Roku (NASDAQ:ROKU) had its price target lowered by equities research analysts at Citigroup from $75.00 to $70.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price target would indicate a potential upside of 16.49% from the stock’s current price.

Several other research analysts have also issued reports on ROKU. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of Roku in a report on Friday. Benchmark lowered their price objective on Roku from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Friday. Pivotal Research lowered their target price on Roku from $85.00 to $75.00 and set a “hold” rating for the company in a report on Friday, February 16th. Seaport Res Ptn raised Roku from a “neutral” rating to a “buy” rating in a report on Monday. Finally, Oppenheimer lowered Roku from an “outperform” rating to a “market perform” rating in a report on Friday, February 16th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $84.21.

Roku Stock Up 2.4 %

Shares of NASDAQ ROKU traded up $1.43 during mid-day trading on Tuesday, reaching $60.09. 3,021,076 shares of the company were exchanged, compared to its average volume of 5,811,422. The company’s 50 day moving average price is $62.53 and its 200 day moving average price is $78.50. The stock has a market capitalization of $8.62 billion, a PE ratio of -15.06 and a beta of 1.66. Roku has a 52 week low of $51.62 and a 52 week high of $108.84.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, April 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.64) by $0.29. The business had revenue of $881.50 million during the quarter, compared to analysts’ expectations of $843.54 million. Roku had a negative net margin of 15.64% and a negative return on equity of 23.73%. The company’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.38) EPS. On average, sell-side analysts predict that Roku will post -2.12 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction 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 owns 141,221 shares in the company, valued at approximately $13,930,039.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $98.64, for a total transaction of $2,466,000.00. Following the completion of the sale, the chief executive officer now directly owns 141,221 shares of the company’s stock, valued at approximately $13,930,039.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Stephen H. Kay sold 4,310 shares of Roku stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $63.20, for a total transaction of $272,392.00. Following the completion of the transaction, the senior vice president now directly owns 81,459 shares in the company, valued at approximately $5,148,208.80. The disclosure for this sale can be found here. Insiders have sold a total of 54,545 shares of company stock valued at $4,364,035 over the last quarter. Corporate insiders own 13.63% of the company’s stock.

Hedge Funds Weigh In On Roku

A number of large investors have recently modified their holdings of ROKU. GAMMA Investing LLC bought a new stake in shares of Roku during the 4th quarter valued at $27,000. Creative Financial Designs Inc. ADV purchased a new stake in Roku in the 4th quarter worth approximately $29,000. Federated Hermes Inc. bought a new position in shares of Roku in the 3rd quarter worth approximately $37,000. Quarry LP boosted its stake in Roku by 160.2% during the fourth quarter. Quarry LP now owns 432 shares of the company’s stock worth $40,000 after acquiring an additional 266 shares in the last quarter. Finally, Benjamin Edwards Inc. grew its position in Roku by 43.5% during the 1st quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock valued at $40,000 after purchasing an additional 187 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.