Roku (NASDAQ:ROKU) Given New $77.00 Price Target at Citigroup

Roku (NASDAQ:ROKU) had its price objective hoisted by Citigroup from $60.00 to $77.00 in a research report report published on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also weighed in on ROKU. Wells Fargo & Company upgraded Roku from an underweight rating to an equal weight rating and increased their target price for the stock from $50.00 to $72.00 in a research note on Thursday, September 5th. Macquarie lowered their price objective on Roku from $88.00 to $72.00 and set an outperform rating on the stock in a research report on Friday, August 2nd. Wolfe Research raised Roku from a peer perform rating to an outperform rating and set a $93.00 target price for the company in a report on Thursday, September 12th. JPMorgan Chase & Co. upped their price target on shares of Roku from $80.00 to $90.00 and gave the company an overweight rating in a research note on Wednesday, September 18th. Finally, Needham & Company LLC reaffirmed a buy rating and set a $100.00 price target on shares of Roku in a research report on Friday, September 13th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Roku presently has an average rating of Hold and a consensus price target of $79.10.

Roku Price Performance

ROKU stock opened at $74.41 on Wednesday. Roku has a one year low of $48.33 and a one year high of $108.84. The stock has a market cap of $10.77 billion, a price-to-earnings ratio of -18.65 and a beta of 2.06. The company has a fifty day moving average price of $64.43 and a two-hundred day moving average price of $61.55.

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

Insider Transactions 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 shares were sold at an average price of $75.33, for a total value of $75,330.00. Following the sale, the chief financial officer now owns 54,267 shares in the company, valued at $4,087,933.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the transaction, the chief executive officer now directly owns 5,020 shares in the company, valued at approximately $376,500. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total transaction of $75,330.00. Following the transaction, the chief financial officer now owns 54,267 shares in the company, valued at approximately $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 valued at $3,465,135. 13.98% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Centaurus Financial Inc. lifted its stake in shares of Roku by 8.7% in the second quarter. Centaurus Financial Inc. now owns 5,020 shares of the company’s stock worth $301,000 after acquiring an additional 400 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Roku in the 2nd quarter worth approximately $1,378,000. Granite Bay Wealth Management LLC bought a new stake in shares of Roku in the 2nd quarter valued at $1,142,000. Quarry LP increased its position in shares of Roku by 127.9% during the second quarter. Quarry LP now owns 1,682 shares of the company’s stock worth $101,000 after buying an additional 944 shares during the period. Finally, Algert Global LLC increased its position in shares of Roku by 144.4% during the second quarter. Algert Global LLC now owns 55,177 shares of the company’s stock worth $3,307,000 after buying an additional 32,603 shares during the period. 86.30% of the stock is owned by institutional investors.

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.