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

Roku (NASDAQ:ROKU) had its price objective upped by investment analysts at Citigroup from $70.00 to $103.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price target points to a potential upside of 13.11% from the stock’s current price.

ROKU has been the subject of a number of other reports. Robert W. Baird upgraded Roku from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $70.00 to $90.00 in a research report on Monday, November 18th. JPMorgan Chase & Co. raised their price objective 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. Jefferies Financial Group raised Roku from an “underperform” rating to a “hold” rating and increased their price target for the company from $55.00 to $100.00 in a research note on Thursday. Benchmark upped their price objective on Roku from $100.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 14th. Finally, Needham & Company LLC restated a “buy” rating and set a $100.00 target price on shares of Roku in a report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Roku presently has a consensus rating of “Moderate Buy” and an average target price of $96.00.

Roku Stock Down 1.5 %

NASDAQ:ROKU traded down $1.35 during trading hours on Thursday, reaching $91.06. The company had a trading volume of 1,831,231 shares, compared to its average volume of 3,720,568. The stock has a 50-day moving average of $81.34 and a two-hundred day moving average of $74.61. Roku has a one year low of $48.33 and a one year high of $104.96. The firm has a market capitalization of $13.22 billion, a PE ratio of -102.33 and a beta of 2.05.

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

Insider Activity

In other news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 63,555 shares in the company, valued at approximately $4,905,174.90. The trade was a 1.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $82.64, for a total transaction of $2,066,000.00. Following the completion of the transaction, the chief executive officer now directly owns 26,538 shares in the company, valued at approximately $2,193,100.32. This represents a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 109,421 shares of company stock valued at $9,660,786. 13.98% of the stock is owned by company insiders.

Institutional Trading of Roku

Several institutional investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. boosted its position in shares of Roku by 369.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock valued at $25,000 after acquiring an additional 270 shares during the period. Vision Financial Markets LLC acquired a new stake in Roku in the 4th quarter worth about $30,000. Raelipskie Partnership bought a new stake in Roku in the 3rd quarter valued at about $32,000. Game Plan Financial Advisors LLC acquired a new position in shares of Roku during the 4th quarter worth approximately $37,000. Finally, Harvest Fund Management Co. Ltd increased its holdings in shares of Roku by 4,091.7% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company’s stock worth $37,000 after purchasing an additional 491 shares during the period. 86.30% of the stock is currently owned by institutional investors.

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.