Roku (NASDAQ:ROKU) Given New $68.00 Price Target at Citigroup

Roku (NASDAQ:ROKU - Get Free Report) had its price objective cut by equities research analysts at Citigroup from $81.00 to $68.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Citigroup's price objective would indicate a potential upside of 12.60% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the stock. Bank of America began coverage on shares of Roku in a research note on Thursday, March 27th. They issued a "buy" rating and a $100.00 price objective for the company. Compass Point initiated coverage on Roku in a research note on Sunday, March 23rd. They set a "buy" rating on the stock. JMP Securities reissued a "market outperform" rating and issued a $95.00 target price on shares of Roku in a research note on Friday. Moffett Nathanson upgraded Roku from a "sell" rating to a "neutral" rating and set a $70.00 price target on the stock in a research report on Tuesday, March 4th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $88.50 price target on shares of Roku in a research note on Friday. One analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $87.93.

Roku Trading Down 0.0 %

Shares of Roku stock traded down $0.03 during trading on Tuesday, hitting $60.39. The stock had a trading volume of 1,688,891 shares, compared to its average volume of 3,750,450. The business's 50-day moving average is $68.16 and its 200 day moving average is $75.01. Roku has a 12 month low of $48.33 and a 12 month high of $104.96. The firm has a market cap of $8.81 billion, a price-to-earnings ratio of -67.94 and a beta of 2.06.

Roku (NASDAQ:ROKU - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, beating analysts' consensus estimates of ($0.27) by $0.08. The company had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. Roku's revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.35) EPS. As a group, equities analysts expect that Roku will post -0.3 EPS for the current year.

Insider Buying and Selling at Roku

In related news, CAO Matthew C. Banks sold 1,906 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $80.36, for a total transaction of $153,166.16. Following the completion of the sale, the chief accounting officer now directly owns 7,256 shares in the company, valued at approximately $583,092.16. The trade was a 20.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Dan Jedda sold 5,000 shares of the firm's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $100.40, for a total value of $502,000.00. Following the completion of the transaction, the chief financial officer now directly owns 58,555 shares in the company, valued at $5,878,922. This trade represents a 7.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,111 shares of company stock worth $6,575,362 in the last three months. 13.98% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Roku

Several large investors have recently made changes to their positions in the business. FMR LLC lifted its holdings in Roku by 31.7% in the 4th quarter. FMR LLC now owns 19,183,942 shares of the company's stock worth $1,426,134,000 after purchasing an additional 4,613,570 shares in the last quarter. Vanguard Group Inc. grew its stake in Roku by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 12,249,091 shares of the company's stock valued at $910,597,000 after acquiring an additional 185,676 shares in the last quarter. Marshall Wace LLP increased its holdings in Roku by 663.9% in the 4th quarter. Marshall Wace LLP now owns 2,335,813 shares of the company's stock valued at $173,644,000 after acquiring an additional 2,030,036 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Roku by 10.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,269,751 shares of the company's stock worth $168,734,000 after purchasing an additional 215,841 shares in the last quarter. Finally, Geode Capital Management LLC boosted 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 purchasing an additional 56,820 shares during the last quarter. 86.30% of the stock is currently owned by hedge funds and other 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.

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