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

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

Several other equities research analysts also recently commented on the company. Wedbush dropped their target price on Roku from $80.00 to $75.00 and set an outperform rating on the stock in a report on Friday, April 26th. Benchmark cut their price objective on Roku from $115.00 to $105.00 and set a buy rating for the company in a report on Friday, April 26th. Pivotal Research reduced their target price on shares of Roku from $85.00 to $75.00 and set a hold rating for the company in a report on Friday, February 16th. Rosenblatt Securities reiterated a neutral rating and set a $89.00 price target on shares of Roku in a research note on Friday, April 26th. Finally, Piper Sandler restated a neutral rating and issued a $65.00 price objective (down from $81.00) on shares of Roku in a research note on Friday, April 26th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Roku presently has a consensus rating of Hold and an average price target of $82.50.

Roku Stock Down 1.4 %

Shares of ROKU stock opened at $59.11 on Tuesday. The stock has a fifty day moving average of $62.07 and a 200 day moving average of $78.13. Roku has a 52 week low of $51.62 and a 52 week high of $108.84.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, April 25th. The company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.29. The company had revenue of $881.50 million during the quarter, compared to analysts’ expectations of $843.54 million. Roku had a negative return on equity of 23.81% and a negative net margin of 15.64%. The firm’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same quarter last year, the business posted ($1.38) EPS. Equities analysts anticipate that Roku will post -1.87 EPS for the current year.

Insiders Place Their Bets

In related news, Director Jeffrey M. Blackburn acquired 8,000 shares of Roku stock in a transaction dated Wednesday, March 13th. The shares were purchased at an average price of $63.96 per share, for a total transaction of $511,680.00. Following the completion of the transaction, the director now directly owns 8,000 shares in the company, valued at approximately $511,680. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Jeffrey M. Blackburn acquired 8,000 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was acquired at an average price of $63.96 per share, with a total value of $511,680.00. Following the acquisition, the director now directly owns 8,000 shares of the company’s stock, valued at $511,680. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $98.64, for a total value of $2,466,000.00. Following the completion of the sale, the chief executive officer now directly owns 141,221 shares in the company, valued at $13,930,039.44. The disclosure for this sale can be found here. Insiders sold 54,751 shares of company stock worth $4,375,835 in the last three months. 13.63% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Gotham Asset Management LLC raised its stake in shares of Roku by 200.3% in the third quarter. Gotham Asset Management LLC now owns 41,128 shares of the company’s stock valued at $2,903,000 after acquiring an additional 27,431 shares during the period. Nordea Investment Management AB increased its holdings in shares of Roku by 8.2% in the 4th quarter. Nordea Investment Management AB now owns 7,247 shares of the company’s stock valued at $669,000 after acquiring an additional 551 shares during the period. Barclays PLC grew its stake in Roku by 13.0% in the third quarter. Barclays PLC now owns 215,766 shares of the company’s stock valued at $15,231,000 after purchasing an additional 24,765 shares during the last quarter. Deutsche Bank AG raised its stake in shares of Roku by 27.6% during the 3rd quarter. Deutsche Bank AG now owns 154,729 shares of the company’s stock worth $10,922,000 after acquiring an additional 33,500 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its position in shares of Roku by 32.4% during the fourth quarter. Vontobel Holding Ltd. now owns 79,771 shares of the company’s stock worth $7,312,000 after purchasing an additional 19,543 shares in the last quarter. 86.30% of the stock is currently owned by 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.