Citigroup Increases Roku (NASDAQ:ROKU) Price Target to $103.00

Roku (NASDAQ:ROKU - Get Free Report) had its target price hoisted by investment analysts at Citigroup from $70.00 to $103.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Citigroup's target price indicates a potential upside of 15.91% from the company's previous close.

Several other research analysts have also weighed in on the company. Loop Capital lifted their price objective on Roku from $70.00 to $80.00 and gave the stock a "hold" rating in a research report on Monday, December 9th. Bank of America boosted their target price on Roku from $90.00 to $120.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Macquarie reaffirmed an "outperform" rating and set a $90.00 price target on shares of Roku in a research note on Thursday, October 31st. Needham & Company LLC reaffirmed a "buy" rating and set a $100.00 price target on shares of Roku in a research note on Tuesday, January 7th. Finally, Baird R W raised Roku from a "hold" rating to a "strong-buy" rating in a research note on Monday, November 18th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Roku has a consensus rating of "Moderate Buy" and an average target price of $96.00.

Roku Stock Performance

Shares of ROKU stock traded down $3.93 during mid-day trading on Thursday, hitting $88.86. The company's stock had a trading volume of 3,410,446 shares, compared to its average volume of 3,766,440. The company's fifty day simple moving average is $81.67 and its 200-day simple moving average is $74.99. Roku has a 52 week low of $48.33 and a 52 week high of $104.96. The company has a market cap of $12.90 billion, a PE ratio of -99.84 and a beta of 2.05.

Roku (NASDAQ:ROKU - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.20. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.15 billion. On average, equities analysts anticipate that Roku will post -0.3 earnings per share for the current year.

Insider Activity

In other news, CEO Anthony J. Wood sold 25,000 shares of the company's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $79.77, for a total value of $1,994,250.00. Following the completion of the transaction, the chief executive officer now directly owns 26,538 shares of the company's stock, valued at $2,116,936.26. This represents a 48.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Dan Jedda sold 5,000 shares of the company's stock in a transaction that occurred on Friday, February 14th. The shares were 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 of the company's stock, valued at approximately $5,878,922. This represents a 7.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 109,421 shares of company stock valued at $9,660,786 over the last three months. Corporate insiders own 13.98% of the company's stock.

Hedge Funds Weigh In On Roku

Several institutional investors have recently modified their holdings of the business. FMR LLC grew its holdings in Roku by 31.7% during the fourth quarter. FMR LLC now owns 19,183,942 shares of the company's stock valued at $1,426,134,000 after purchasing an additional 4,613,570 shares during the period. Marshall Wace LLP grew its holdings in Roku by 663.9% during the fourth quarter. Marshall Wace LLP now owns 2,335,813 shares of the company's stock valued at $173,644,000 after purchasing an additional 2,030,036 shares during the period. Holocene Advisors LP bought a new position in Roku during the third quarter valued at $129,015,000. Cadian Capital Management LP bought a new position in Roku during the fourth quarter valued at $87,632,000. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Roku by 505.3% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,296,774 shares of the company's stock valued at $96,402,000 after purchasing an additional 1,082,548 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.