Citigroup Forecasts Strong Price Appreciation for Roku (NASDAQ:ROKU) Stock

Roku (NASDAQ:ROKU) had its target price increased by research analysts at Citigroup from $100.00 to $120.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price objective points to a potential downside of 5.12% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Jefferies Financial Group lifted their target price on shares of Roku from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, April 13th. Guggenheim lifted their price target on shares of Roku from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday. Evercore reissued an “outperform” rating and issued a $150.00 price target on shares of Roku in a research report on Friday, February 13th. Stifel Nicolaus set a $160.00 price target on shares of Roku in a research report on Monday, March 2nd. Finally, Susquehanna lifted their price target on shares of Roku from $130.00 to $160.00 and gave the company a “positive” rating in a research report on Friday. Twenty-one analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Roku has a consensus rating of “Moderate Buy” and a consensus price target of $142.17.

Roku Trading Up 2.3%

NASDAQ ROKU traded up $2.89 during trading on Monday, reaching $126.47. The company’s stock had a trading volume of 2,250,276 shares, compared to its average volume of 3,299,190. The stock has a market capitalization of $18.65 billion, a PE ratio of 95.09 and a beta of 2.04. The business has a 50-day moving average price of $100.40 and a 200-day moving average price of $100.88. Roku has a 1-year low of $58.77 and a 1-year high of $127.90.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, April 30th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.23. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Roku had a net margin of 4.06% and a return on equity of 7.68%. The company’s revenue was up 22.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.19) earnings per share. As a group, analysts expect that Roku will post 2.24 earnings per share for the current year.

Insider Activity

In related news, insider Charles Collier sold 205,821 shares of the business’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $105.00, for a total transaction of $21,611,205.00. Following the transaction, the insider owned 11,131 shares of the company’s stock, valued at approximately $1,168,755. The trade was a 94.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gilbert Fuchsberg sold 3,250 shares of the business’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $95.57, for a total transaction of $310,602.50. Following the transaction, the insider directly owned 60,456 shares in the company, valued at $5,777,779.92. This trade represents a 5.10% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 630,182 shares of company stock worth $66,865,773. 13.45% of the stock is owned by company insiders.

Hedge Funds Weigh In On Roku

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Y.D. More Investments Ltd bought a new position in Roku during the first quarter worth $728,000. Fifth Third Bancorp increased its position in Roku by 264.5% during the first quarter. Fifth Third Bancorp now owns 2,934 shares of the company’s stock worth $278,000 after acquiring an additional 2,129 shares during the period. American Trust increased its position in Roku by 24.1% during the first quarter. American Trust now owns 3,189 shares of the company’s stock worth $302,000 after acquiring an additional 619 shares during the period. Hsbc Holdings PLC increased its position in Roku by 188.9% during the first quarter. Hsbc Holdings PLC now owns 48,347 shares of the company’s stock worth $4,595,000 after acquiring an additional 31,614 shares during the period. Finally, Summit Securities Group LLC bought a new position in Roku during the first quarter worth $80,000. Institutional investors own 86.30% of the company’s stock.

Roku Company Profile

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.