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

Roku (NASDAQ:ROKU) had its price target trimmed by Citigroup from $75.00 to $70.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research analysts have also commented on ROKU. Oppenheimer lowered Roku from an outperform rating to a market perform rating in a research report on Friday, February 16th. Stephens reiterated an overweight rating and set a $105.00 target price on shares of Roku in a research note on Friday, February 16th. Wedbush reduced their price target on shares of Roku from $80.00 to $75.00 and set an outperform rating on the stock in a research report on Friday, April 26th. Benchmark lowered their price objective on shares of Roku from $115.00 to $105.00 and set a buy rating for the company in a research report on Friday, April 26th. Finally, Needham & Company LLC restated a buy rating and issued a $100.00 target price 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 issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $82.50.

Roku Stock Performance

Shares of NASDAQ:ROKU opened at $59.11 on Tuesday. The company has a fifty day simple moving average of $62.07 and a 200 day simple moving average of $78.13. Roku has a 12-month low of $51.62 and a 12-month high of $108.84.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, April 25th. The company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.64) by $0.29. The company had revenue of $881.50 million during the quarter, compared to the consensus estimate of $843.54 million. Roku had a negative net margin of 15.64% and a negative return on equity of 23.81%. The company’s revenue was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.38) EPS. As a group, analysts expect that Roku will post -1.87 earnings per share for the current fiscal year.

Insider Activity at Roku

In other Roku news, SVP Stephen H. Kay sold 4,310 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.20, for a total transaction of $272,392.00. Following the sale, the senior vice president now owns 81,459 shares of the company’s stock, valued at approximately $5,148,208.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Charles Collier sold 12,277 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $65.06, for a total value of $798,741.62. Following the completion of the sale, the insider now owns 4,292 shares in the company, valued at $279,237.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Stephen H. Kay sold 4,310 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.20, for a total value of $272,392.00. Following the completion of the sale, the senior vice president now directly owns 81,459 shares of the company’s stock, valued at $5,148,208.80. The disclosure for this sale can be found here. Insiders sold 54,751 shares of company stock valued at $4,375,835 in the last three months. Corporate insiders own 13.63% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Geneos Wealth Management Inc. grew its stake in Roku by 835.6% in the first quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock valued at $45,000 after acquiring an additional 610 shares during the period. GSA Capital Partners LLP lifted its holdings in shares of Roku by 70.4% during the 1st quarter. GSA Capital Partners LLP now owns 15,540 shares of the company’s stock valued at $1,013,000 after purchasing an additional 6,420 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its holdings in shares of Roku by 25.8% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock valued at $462,108,000 after purchasing an additional 1,455,408 shares in the last quarter. Daiwa Securities Group Inc. grew its position in shares of Roku by 411.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 46,689 shares of the company’s stock valued at $3,042,000 after purchasing an additional 37,552 shares during the period. Finally, Nordea Investment Management AB increased its stake in Roku by 8.2% during the 1st quarter. Nordea Investment Management AB now owns 7,842 shares of the company’s stock worth $516,000 after purchasing an additional 595 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.