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

Roku (NASDAQ:ROKU) had its target price increased by Citigroup from $70.00 to $103.00 in a research note released on Thursday,Benzinga reports. Citigroup currently has a neutral rating on the stock.

A number of other equities research analysts have also weighed in on ROKU. Wells Fargo & Company raised Roku from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $74.00 to $129.00 in a research report on Friday, February 14th. Bank of America lifted their price target on Roku from $90.00 to $120.00 and gave the company a “buy” rating in a report on Friday, February 14th. Citizens Jmp upgraded Roku to a “strong-buy” rating in a report on Tuesday, January 21st. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of Roku in a report on Tuesday, January 7th. Finally, UBS Group lifted their price target on Roku from $73.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $96.00.

Roku Stock Performance

Shares of ROKU stock opened at $88.86 on Thursday. The stock has a 50 day moving average price of $81.67 and a 200 day moving average price of $75.14. The firm has a market capitalization of $12.97 billion, a P/E ratio of -99.84 and a beta of 2.05. Roku has a 52-week low of $48.33 and a 52-week high of $104.96.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.20. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.15 billion. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. As a group, sell-side analysts forecast that Roku will post -0.3 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $82.64, for a total value of $2,066,000.00. Following the completion of the transaction, the chief executive officer now owns 26,538 shares of the company’s stock, valued at $2,193,100.32. The trade was a 48.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Dan Jedda sold 5,000 shares of the business’s stock in a transaction dated 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 trade represents a 7.87 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 109,421 shares of company stock valued at $9,660,786. 13.98% of the stock is owned by company insiders.

Hedge Funds Weigh In On Roku

Several institutional investors and hedge funds have recently modified their holdings of ROKU. Geneos Wealth Management Inc. lifted its holdings in shares of Roku by 369.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock valued at $25,000 after buying an additional 270 shares during the period. Vision Financial Markets LLC acquired a new position in Roku in the 4th quarter worth about $30,000. Raelipskie Partnership acquired a new position in Roku in the 3rd quarter worth about $32,000. Game Plan Financial Advisors LLC purchased a new stake in Roku during the 4th quarter worth approximately $37,000. Finally, Harvest Fund Management Co. Ltd increased its stake in Roku by 4,091.7% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company’s stock worth $37,000 after buying an additional 491 shares in the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

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.