Citigroup Issues Positive Forecast for Roku (NASDAQ:ROKU) Stock Price

Roku (NASDAQ:ROKU) had its target price lifted by stock analysts at Citigroup from $70.00 to $103.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price objective points to a potential upside of 13.11% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on ROKU. Citizens Jmp raised Roku to a “strong-buy” rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. boosted their target price on shares of Roku from $92.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Benchmark raised their price target on shares of Roku from $100.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Wedbush reissued an “outperform” rating and issued a $100.00 price objective on shares of Roku in a research report on Monday, February 10th. Finally, Robert W. Baird upgraded shares of Roku from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $70.00 to $90.00 in a research report on Monday, November 18th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.00.

Roku Stock Performance

NASDAQ:ROKU traded down $1.35 during mid-day trading on Thursday, hitting $91.06. 1,831,231 shares of the company’s stock traded hands, compared to its average volume of 3,720,568. The company has a market cap of $13.22 billion, a PE ratio of -102.33 and a beta of 2.05. The firm’s 50 day simple moving average is $81.34 and its 200 day simple moving average is $74.61. Roku has a 1 year low of $48.33 and a 1 year high of $104.96.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.20. Roku had a negative net margin of 3.15% and a negative return on equity of 5.39%. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.15 billion. On average, research analysts expect that Roku will post -0.34 earnings per share for the current fiscal year.

Insider Transactions at Roku

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $82.64, for a total value of $2,066,000.00. Following the completion of the transaction, the chief executive officer now owns 26,538 shares in the company, valued at $2,193,100.32. This represents a 48.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $77.18, for a total transaction of $77,180.00. Following the sale, the chief financial officer now directly owns 63,555 shares in the company, valued at $4,905,174.90. This trade represents a 1.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 109,421 shares of company stock valued at $9,660,786 over the last 90 days. Corporate insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ROKU. Allspring Global Investments Holdings LLC boosted its holdings in shares of Roku by 11.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,207 shares of the company’s stock valued at $165,000 after buying an additional 222 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in shares of Roku by 4.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 4,721 shares of the company’s stock worth $352,000 after purchasing an additional 202 shares during the last quarter. International Assets Investment Management LLC grew its stake in Roku by 8,030.0% during the 3rd quarter. International Assets Investment Management LLC now owns 108,780 shares of the company’s stock worth $8,122,000 after buying an additional 107,442 shares during the last quarter. Cross Staff Investments Inc bought a new position in shares of Roku during the third quarter worth about $224,000. Finally, PFG Investments LLC grew its holdings in Roku by 3.7% in the 3rd quarter. PFG Investments LLC now owns 4,157 shares of the company’s stock worth $310,000 after buying an additional 150 shares in the last quarter. 86.30% of the stock is owned by institutional investors and hedge funds.

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.