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

Roku (NASDAQ:ROKU) had its target price reduced by equities research analysts at Citigroup from $75.00 to $70.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price objective suggests a potential upside of 18.38% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Piper Sandler restated a “neutral” rating and set a $65.00 price objective (down previously from $81.00) on shares of Roku in a research note on Friday, April 26th. Oppenheimer lowered Roku from an “outperform” rating to a “market perform” rating in a research note on Friday, February 16th. Wells Fargo & Company raised their price objective on Roku from $45.00 to $52.00 and gave the stock an “underweight” rating in a research note on Friday, April 26th. Pivotal Research lowered their price objective on Roku from $85.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $89.00 price objective on shares of Roku in a research note on Friday, April 26th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $84.21.

Roku Trading Up 2.5 %

NASDAQ:ROKU opened at $59.13 on Tuesday. The stock has a market cap of $8.49 billion, a P/E ratio of -14.82 and a beta of 1.66. The stock has a 50 day simple moving average of $62.24 and a 200 day simple moving average of $78.31. Roku has a 1-year low of $51.62 and a 1-year high of $108.84.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Thursday, April 25th. The company reported ($0.35) earnings per share for the quarter, topping 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 return on equity of 23.81% and a negative net margin of 15.64%. The firm’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period last year, the firm posted ($1.38) EPS. As a group, sell-side analysts forecast that Roku will post -1.98 EPS for the current year.

Insider Activity at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 141,221 shares of the company’s stock, valued at approximately $13,930,039.44. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Charles Collier sold 4,182 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $65.00, for a total transaction of $271,830.00. Following the sale, the insider now owns 8,474 shares of the company’s stock, valued at approximately $550,810. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s 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 sale, the chief executive officer now directly owns 141,221 shares in the company, valued at approximately $13,930,039.44. 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 in the last 90 days. 13.63% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Harbour Investments Inc. lifted its holdings in Roku by 3.3% during the 3rd quarter. Harbour Investments Inc. now owns 3,499 shares of the company’s stock worth $247,000 after buying an additional 113 shares during the period. Avantax Advisory Services Inc. lifted its holdings in Roku by 0.9% during the 4th quarter. Avantax Advisory Services Inc. now owns 12,949 shares of the company’s stock worth $1,187,000 after buying an additional 117 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Roku by 0.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 50,971 shares of the company’s stock worth $4,415,000 after buying an additional 150 shares during the period. Spire Wealth Management lifted its holdings in Roku by 35.3% during the 3rd quarter. Spire Wealth Management now owns 621 shares of the company’s stock worth $44,000 after buying an additional 162 shares during the period. Finally, Arizona State Retirement System lifted its holdings in Roku by 0.5% during the 3rd quarter. Arizona State Retirement System now owns 33,655 shares of the company’s stock worth $2,376,000 after buying an additional 173 shares during the period. 86.30% of the stock is owned by institutional investors and hedge funds.

Roku Company Profile

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.