Citigroup Issues Positive Forecast for Roku (NASDAQ:ROKU) Stock Price

Roku (NASDAQ:ROKU - Get Free Report) had its price target upped by research analysts at Citigroup from $68.00 to $84.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Citigroup's price objective suggests a potential upside of 4.10% from the stock's current price.

ROKU has been the topic of a number of other research reports. Guggenheim reaffirmed a "buy" rating and issued a $100.00 price objective on shares of Roku in a report on Friday, May 2nd. Piper Sandler started coverage on shares of Roku in a research report on Thursday, April 17th. They issued a "neutral" rating and a $65.00 target price for the company. Rosenblatt Securities dropped their price target on shares of Roku from $100.00 to $75.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Compass Point assumed coverage on Roku in a research report on Sunday, March 23rd. They set a "buy" rating for the company. Finally, JMP Securities reissued a "market outperform" rating and issued a $95.00 price objective on shares of Roku in a report on Tuesday. One analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $89.93.

Roku Trading Up 0.1%

NASDAQ:ROKU opened at $80.69 on Wednesday. The firm has a market capitalization of $11.78 billion, a PE ratio of -110.45 and a beta of 2.09. The stock has a 50 day moving average of $68.33 and a 200-day moving average of $75.01. Roku has a 52 week low of $48.33 and a 52 week high of $104.96.

Roku (NASDAQ:ROKU - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.27) by $0.08. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Roku had a negative return on equity of 4.29% and a negative net margin of 2.49%. The business's revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.35) EPS. As a group, analysts predict that Roku will post -0.3 EPS for the current fiscal year.

Insider Transactions at Roku

In other news, CAO Matthew C. Banks sold 629 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $72.98, for a total transaction of $45,904.42. Following the sale, the chief accounting officer now directly owns 8,555 shares of the company's stock, valued at $624,343.90. The trade was a 6.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Anthony J. Wood sold 4,600 shares of the business's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $345,000.00. Following the sale, the chief executive officer now owns 6,243 shares in the company, valued at approximately $468,225. The trade was a 42.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,737 shares of company stock valued at $4,987,114 in the last quarter. Insiders own 13.98% of the company's stock.

Institutional Trading of Roku

Several hedge funds and other institutional investors have recently modified their holdings of the business. Jacobs Levy Equity Management Inc. increased its stake in Roku by 505.3% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,296,774 shares of the company's stock valued at $96,402,000 after buying an additional 1,082,548 shares during the period. Geode Capital Management LLC grew its holdings in shares of Roku by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company's stock valued at $159,353,000 after acquiring an additional 56,820 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Roku by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 990,867 shares of the company's stock worth $73,661,000 after acquiring an additional 34,898 shares during the last quarter. Achmea Investment Management B.V. raised its holdings in shares of Roku by 146.4% during the fourth quarter. Achmea Investment Management B.V. now owns 10,168 shares of the company's stock worth $756,000 after acquiring an additional 6,042 shares in the last quarter. Finally, J. Goldman & Co LP boosted its position in Roku by 973.1% during the fourth quarter. J. Goldman & Co LP now owns 354,326 shares of the company's stock valued at $26,341,000 after purchasing an additional 321,307 shares during the last quarter. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.