Roku (NASDAQ:ROKU – Get Free Report)‘s stock had its “neutral” rating reissued by equities researchers at Citigroup in a note issued to investors on Wednesday, MarketBeat reports. They presently have a $84.00 price target on the stock, up from their previous price target of $68.00. Citigroup’s price objective suggests a potential upside of 3.16% from the company’s previous close.
Several other analysts also recently weighed in on the company. Bank of America lifted their target price on Roku from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday. Wedbush restated an “outperform” rating and issued a $100.00 price objective on shares of Roku in a report on Monday. Compass Point initiated coverage on Roku in a report on Sunday, March 23rd. They issued a “buy” rating for the company. JPMorgan Chase & Co. lifted their price objective on Roku from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, June 3rd. Finally, FBN Securities initiated coverage on Roku in a report on Friday, March 28th. They issued an “outperform” rating and a $93.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Roku presently has an average rating of “Moderate Buy” and an average target price of $89.93.
View Our Latest Analysis on ROKU
Roku Trading Up 1.0%
Roku (NASDAQ:ROKU – Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.08. Roku had a negative return on equity of 4.29% and a negative net margin of 2.49%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the company earned ($0.35) earnings per share. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. As a group, equities research analysts predict that Roku will post -0.3 EPS for the current fiscal year.
Insider Transactions at Roku
In other news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the sale, the chief executive officer now owns 6,243 shares in the company, valued at approximately $468,225. The trade was a 80.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charles Collier sold 7,181 shares of the business’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $75.00, for a total value of $538,575.00. Following the sale, the insider now owns 10,970 shares in the company, valued at $822,750. The trade was a 39.56% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,227 shares of company stock worth $4,994,244. Insiders own 13.98% of the company’s stock.
Institutional Investors Weigh In On Roku
A number of large investors have recently bought and sold shares of the company. Voya Investment Management LLC boosted its position in Roku by 5.4% in the first quarter. Voya Investment Management LLC now owns 40,288 shares of the company’s stock valued at $2,838,000 after buying an additional 2,062 shares during the last quarter. Anderson Financial Strategies LLC purchased a new stake in Roku in the first quarter valued at approximately $68,000. Strs Ohio purchased a new stake in Roku in the first quarter valued at approximately $3,984,000. Acadian Asset Management LLC boosted its position in Roku by 456.7% in the first quarter. Acadian Asset Management LLC now owns 1,905,779 shares of the company’s stock valued at $134,222,000 after buying an additional 1,563,449 shares during the last quarter. Finally, Focus Partners Wealth purchased a new stake in Roku in the first quarter valued at approximately $229,000. Hedge funds and other 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.
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