Roku (NASDAQ:ROKU) PT Lowered to $70.00

Roku (NASDAQ:ROKU) had its price target decreased by analysts at Citigroup from $75.00 to $70.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s target price suggests a potential upside of 18.38% from the stock’s current price.

A number of other brokerages have also recently weighed in on ROKU. Wells Fargo & Company lifted their price target on Roku from $45.00 to $52.00 and gave the stock an “underweight” rating in a research note on Friday, April 26th. Stephens restated an “overweight” rating and set a $105.00 price objective on shares of Roku in a research report on Friday, February 16th. Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of Roku in a research report on Friday, April 26th. Pivotal Research decreased their price objective on Roku from $85.00 to $75.00 and set a “hold” rating for the company in a research report on Friday, February 16th. Finally, Seaport Res Ptn upgraded Roku from a “neutral” rating to a “buy” rating in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $84.21.

Roku Trading Up 2.5 %

Shares of ROKU opened at $59.13 on Tuesday. The business’s 50-day moving average price is $62.24 and its 200 day moving average price is $78.31. The stock has a market capitalization of $8.49 billion, a P/E ratio of -14.82 and a beta of 1.66. Roku has a 1-year low of $51.62 and a 1-year high of $108.84.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, April 25th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.29. The firm had revenue of $881.50 million for the quarter, compared to analysts’ expectations of $843.54 million. Roku had a negative return on equity of 23.81% and a negative net margin of 15.64%. Roku’s revenue was up 19.0% on a year-over-year basis. During the same quarter last year, the business posted ($1.38) EPS. On average, research analysts predict that Roku will post -1.98 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Jeffrey M. Blackburn bought 8,000 shares of Roku stock in a transaction that occurred on Wednesday, March 13th. The stock was purchased at an average cost of $63.96 per share, for a total transaction of $511,680.00. Following the acquisition, the director now owns 8,000 shares in the company, valued at $511,680. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Roku news, Director Jeffrey M. Blackburn purchased 8,000 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were bought at an average cost of $63.96 per share, with a total value of $511,680.00. Following the transaction, the director now directly owns 8,000 shares in the company, valued at approximately $511,680. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $98.64, for a total value of $2,466,000.00. Following the completion of the transaction, the chief executive officer now directly owns 141,221 shares in the company, valued at $13,930,039.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,545 shares of company stock worth $4,364,035. 13.63% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC bought a new position in Roku in the 4th quarter worth approximately $27,000. Creative Financial Designs Inc. ADV bought a new stake in shares of Roku during the fourth quarter valued at approximately $29,000. Quarry LP increased its position in shares of Roku by 160.2% during the fourth quarter. Quarry LP now owns 432 shares of the company’s stock valued at $40,000 after purchasing an additional 266 shares during the period. Federated Hermes Inc. bought a new stake in shares of Roku during the third quarter valued at approximately $37,000. Finally, Headinvest LLC bought a new stake in shares of Roku during the third quarter valued at approximately $42,000. 86.30% of the stock is 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.