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

Roku (NASDAQ:ROKU) had its target price upped by Citigroup from $60.00 to $77.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

Other analysts have also recently issued research reports about the stock. Wedbush reissued an outperform rating and issued a $75.00 target price on shares of Roku in a research note on Friday, August 2nd. JPMorgan Chase & Co. upped their price objective on Roku from $80.00 to $90.00 and gave the company an overweight rating in a research note on Wednesday, September 18th. Wells Fargo & Company upgraded Roku from an underweight rating to an equal weight rating and raised their target price for the stock from $50.00 to $72.00 in a research report on Thursday, September 5th. Needham & Company LLC reiterated a buy rating and issued a $100.00 price target on shares of Roku in a research report on Friday, September 13th. Finally, Benchmark reissued a buy rating and set a $105.00 price objective on shares of Roku in a report on Thursday, September 12th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Roku has an average rating of Hold and a consensus price target of $79.10.

Roku Stock Performance

Shares of ROKU opened at $74.41 on Wednesday. The company has a 50-day simple moving average of $64.43 and a 200-day simple moving average of $61.55. Roku has a 52 week low of $48.33 and a 52 week high of $108.84. The firm has a market capitalization of $10.77 billion, a P/E ratio of -18.65 and a beta of 2.06.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) 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 firm had revenue of $968.18 million during the quarter, compared to analysts’ expectations of $937.78 million. During the same quarter in the prior year, the firm posted ($0.76) EPS. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, equities analysts forecast that Roku will post -1.44 earnings per share for the current year.

Insider Transactions at Roku

In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total value of $109,012.27. Following the transaction, the insider now owns 38,602 shares of the company’s stock, valued at $2,485,582.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction dated 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 owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction dated 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 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. Insiders have sold a total of 46,945 shares of company stock valued at $3,465,135 over the last 90 days. 13.98% of the stock is owned by company insiders.

Hedge Funds Weigh In On Roku

Hedge funds have recently modified their holdings of the stock. Swedbank AB acquired a new position in shares of Roku during the 1st quarter worth approximately $1,180,000. SG Americas Securities LLC increased its holdings in Roku by 238.6% during the second quarter. SG Americas Securities LLC now owns 73,528 shares of the company’s stock worth $4,407,000 after buying an additional 51,815 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Roku by 23.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,822 shares of the company’s stock worth $4,094,000 after acquiring an additional 11,851 shares in the last quarter. Garde Capital Inc. acquired a new stake in Roku in the fourth quarter valued at $105,000. Finally, Vanguard Group Inc. lifted its stake in Roku by 0.8% in the first quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock valued at $778,560,000 after acquiring an additional 92,658 shares during 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.