Roku (NASDAQ:ROKU) Price Target Increased to $77.00 by Analysts at Citigroup

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

Several other research analysts have also recently weighed in on ROKU. Wells Fargo & Company raised shares of Roku from an underweight rating to an equal weight rating and boosted their price objective for the company from $50.00 to $72.00 in a report on Thursday, September 5th. Guggenheim upgraded shares of Roku from a neutral rating to a buy rating and set a $75.00 price objective on the stock in a research note on Friday, August 23rd. Needham & Company LLC reiterated a buy rating and set a $100.00 target price on shares of Roku in a research report on Friday, September 13th. Macquarie reduced their price target on Roku from $88.00 to $72.00 and set an outperform rating for the company in a research report on Friday, August 2nd. Finally, Wolfe Research raised shares of Roku from a peer perform rating to an outperform rating and set a $93.00 price objective for the company in a research note on Thursday, September 12th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average price target of $79.10.

Roku Stock Up 1.0 %

NASDAQ:ROKU opened at $74.41 on Wednesday. The firm’s 50-day moving average price is $64.43 and its 200-day moving average price is $61.55. Roku has a 1-year low of $48.33 and a 1-year high of $108.84.

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

Insider Activity at Roku

In other news, insider Charles Collier sold 3,590 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $65.00, for a total value of $233,350.00. Following the sale, the insider now owns 12,064 shares of the company’s stock, valued at $784,160. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Charles Collier sold 3,590 shares of Roku stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $65.00, for a total transaction of $233,350.00. Following the completion of the sale, the insider now owns 12,064 shares in the company, valued at approximately $784,160. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction of $75,330.00. Following the completion of the transaction, the chief financial officer now owns 54,267 shares in the company, valued at $4,087,933.11. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,945 shares of company stock valued at $3,465,135. Insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Swedbank AB acquired a new position in Roku during the 1st quarter valued at approximately $1,180,000. SG Americas Securities LLC grew its holdings in Roku by 238.6% in the second quarter. SG Americas Securities LLC now owns 73,528 shares of the company’s stock valued at $4,407,000 after purchasing an additional 51,815 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Roku by 23.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,822 shares of the company’s stock worth $4,094,000 after buying an additional 11,851 shares during the period. Garde Capital Inc. purchased a new stake in Roku in the 4th quarter worth $105,000. Finally, Vanguard Group Inc. grew its position in shares of 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 purchasing an additional 92,658 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.