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

Roku (NASDAQ:ROKU) had its target price upped by equities research analysts at Citigroup from $60.00 to $77.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price objective would indicate a potential upside of 4.00% from the stock’s current price.

ROKU has been the subject of several other reports. Guggenheim raised Roku from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Friday, August 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of Roku in a research report on Friday, September 13th. Macquarie lowered their price target on shares of Roku from $88.00 to $72.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Benchmark reiterated a “buy” rating and set a $105.00 price objective on shares of Roku in a report on Thursday, September 12th. Finally, Wedbush restated an “outperform” rating and issued a $75.00 target price on shares of Roku in a research note on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $79.10.

Roku Stock Down 3.0 %

Shares of Roku stock traded down $2.32 during trading on Wednesday, hitting $74.04. The stock had a trading volume of 1,653,540 shares, compared to its average volume of 4,552,908. Roku has a 1 year low of $48.33 and a 1 year high of $108.84. The stock has a 50 day simple moving average of $63.79 and a 200 day simple moving average of $61.30. The company has a market capitalization of $10.71 billion, a PE ratio of -18.52 and a beta of 2.06.

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

Insider Activity at Roku

In other Roku news, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction that occurred 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 owns 54,267 shares in the company, valued at approximately $4,087,933.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Gilbert Fuchsberg sold 1,693 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total value of $109,012.27. Following the sale, the insider now directly owns 38,602 shares in the company, valued at approximately $2,485,582.78. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction, the chief financial officer now 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 90 days, insiders sold 46,945 shares of company stock worth $3,465,135. Company insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

A number of institutional investors have recently bought and sold shares of ROKU. ARK Investment Management LLC raised its position in shares of Roku by 1.3% in the second quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock valued at $762,096,000 after buying an additional 159,785 shares in the last quarter. Vanguard Group Inc. increased its stake in Roku by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock worth $778,560,000 after acquiring an additional 92,658 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Roku by 24.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock valued at $478,939,000 after acquiring an additional 1,457,925 shares during the period. Nikko Asset Management Americas Inc. grew its holdings in shares of Roku by 25.8% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock worth $462,108,000 after purchasing an additional 1,455,408 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Roku by 5.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 500,794 shares of the company’s stock worth $30,013,000 after purchasing an additional 24,926 shares in the last quarter. Institutional investors own 86.30% of the company’s stock.

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.