Citigroup Boosts Roku (NASDAQ:ROKU) Price Target to $77.00

Roku (NASDAQ:ROKU) had its target price increased by Citigroup from $60.00 to $77.00 in a report published on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

ROKU has been the subject of a number of other research reports. Guggenheim raised shares of Roku from a neutral rating to a buy rating and set a $75.00 target price for the company in a research report on Friday, August 23rd. Wedbush restated an outperform rating and issued a $75.00 price target on shares of Roku in a research report on Friday, August 2nd. Bank of America dropped their price objective on Roku from $85.00 to $75.00 and set a buy rating for the company in a research report on Friday, August 2nd. Rosenblatt Securities decreased their price target on shares of Roku from $89.00 to $61.00 and set a neutral rating on the stock in a report on Friday, August 2nd. Finally, Needham & Company LLC reaffirmed a buy rating and set a $100.00 target price on shares of Roku in a research note on Friday, September 13th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $79.10.

Roku Price Performance

Shares of NASDAQ ROKU opened at $74.41 on Wednesday. Roku has a twelve month low of $48.33 and a twelve month high of $108.84. The business’s 50 day moving average price is $64.43 and its two-hundred day moving average price is $61.55.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.21. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The business had revenue of $968.18 million during the quarter, compared to the consensus estimate of $937.78 million. During the same quarter last year, the firm posted ($0.76) EPS. The company’s quarterly revenue was up 14.3% on a year-over-year basis. As a group, equities research analysts expect that Roku will post -1.44 EPS for the current fiscal year.

Insider Buying and Selling at Roku

In related news, CFO Dan Jedda sold 1,000 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total value of $75,330.00. Following the completion of the sale, the chief financial officer now directly owns 54,267 shares of the company’s stock, valued at approximately $4,087,933.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Roku news, insider Charles Collier sold 15,454 shares of Roku stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $75.00, for a total value of $1,159,050.00. Following the sale, the insider now owns 200 shares of the company’s stock, valued at $15,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total value of $75,330.00. Following the transaction, the chief financial officer now directly owns 54,267 shares of the company’s stock, valued at $4,087,933.11. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,945 shares of company stock valued at $3,465,135. Company insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP grew its stake in Roku by 160.2% during the fourth quarter. Quarry LP now owns 432 shares of the company’s stock valued at $40,000 after acquiring an additional 266 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in shares of Roku by 43.5% during the 1st quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock worth $40,000 after acquiring an additional 187 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Roku by 123.4% during the second quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock valued at $40,000 after purchasing an additional 375 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in Roku by 835.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock worth $45,000 after buying an additional 610 shares during the last quarter. Finally, Cedar Wealth Management LLC purchased a new position in Roku in the 2nd quarter worth $48,000. 86.30% of the stock is owned by hedge funds and other institutional investors.

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.