Roku (NASDAQ:ROKU) Price Target Lowered to $70.00 at Citigroup

Roku (NASDAQ:ROKU) had its price target reduced by Citigroup from $75.00 to $70.00 in a research report released on Tuesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts also recently issued reports about the company. Benchmark reduced their target price on Roku from $115.00 to $105.00 and set a buy rating on the stock in a report on Friday, April 26th. Seaport Res Ptn raised Roku from a neutral rating to a buy rating in a report on Monday. Wells Fargo & Company boosted their target price on Roku from $45.00 to $52.00 and gave the stock an underweight rating in a report on Friday, April 26th. Susquehanna dropped their price objective on shares of Roku from $110.00 to $80.00 and set a positive rating for the company in a research report on Monday. Finally, Needham & Company LLC reaffirmed a buy rating and set a $100.00 price objective on shares of Roku in a report on Friday, April 26th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average target price of $84.21.

Roku Trading Down 1.7 %

NASDAQ ROKU opened at $57.66 on Tuesday. The stock’s 50 day moving average is $62.34 and its two-hundred day moving average is $78.45. The company has a market capitalization of $8.28 billion, a price-to-earnings ratio of -14.45 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 announced its earnings results on Thursday, April 25th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.64) by $0.29. The business had revenue of $881.50 million for the quarter, compared to the consensus estimate of $843.54 million. Roku had a negative return on equity of 23.73% and a negative net margin of 15.64%. Roku’s revenue was up 19.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.38) EPS. On average, analysts predict that Roku will post -2.12 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Charles Collier sold 4,182 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $65.00, for a total transaction of $271,830.00. Following the sale, the insider now owns 8,474 shares of the company’s stock, valued at approximately $550,810. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Charles Collier sold 4,182 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $65.00, for a total transaction of $271,830.00. Following the sale, the insider now owns 8,474 shares of the company’s stock, valued at approximately $550,810. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Stephen H. Kay sold 4,310 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $63.20, for a total value of $272,392.00. Following the sale, the senior vice president now directly owns 81,459 shares in the company, valued at approximately $5,148,208.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,545 shares of company stock valued at $4,364,035. 13.63% of the stock is owned by company insiders.

Hedge Funds Weigh In On Roku

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Roku by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 11,853,947 shares of the company’s stock worth $1,086,533,000 after purchasing an additional 380,409 shares in the last quarter. FMR LLC increased its holdings in Roku by 85.9% during the 3rd quarter. FMR LLC now owns 9,441,349 shares of the company’s stock worth $666,465,000 after purchasing an additional 4,363,754 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Roku by 24.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock worth $478,939,000 after purchasing an additional 1,457,925 shares in the last quarter. Wellington Management Group LLP increased its holdings in Roku by 34.6% during the 3rd quarter. Wellington Management Group LLP now owns 2,543,081 shares of the company’s stock worth $179,516,000 after purchasing an additional 653,940 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Roku in the 4th quarter valued at about $90,386,000. Institutional investors 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.