Citigroup cut shares of Roku (NASDAQ:ROKU) from a neutral rating to a sell rating in a research report report published on Monday, Benzinga reports. The firm currently has $60.60 price target on the stock, up from their prior price target of $53.00.

Other equities research analysts have also recently issued reports about the company. Guggenheim restated a neutral rating and set a $72.00 target price (down from $77.00) on shares of Roku in a report on Thursday, April 4th. BidaskClub raised Roku from a sell rating to a hold rating in a research report on Thursday, February 14th. Loop Capital upped their price target on Roku to $45.00 and gave the company a hold rating in a research report on Friday, February 22nd. ValuEngine raised Roku from a hold rating to a buy rating in a research report on Saturday, February 23rd. Finally, KeyCorp reaffirmed an overweight rating and set a $76.00 price target (up previously from $63.00) on shares of Roku in a research report on Monday, April 1st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $66.17.

Shares of ROKU stock opened at $58.57 on Monday. The stock has a market cap of $6.68 billion, a P/E ratio of -732.13 and a beta of 3.85. Roku has a 1-year low of $26.30 and a 1-year high of $77.57.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, February 21st. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.02. The company had revenue of $275.74 million during the quarter, compared to analysts’ expectations of $262.57 million. Roku had a negative return on equity of 4.06% and a negative net margin of 1.19%. As a group, equities analysts predict that Roku will post -0.71 earnings per share for the current fiscal year.

In other news, Director Jeff Hastings sold 2,000 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $70.00, for a total value of $140,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Stephen H. Kay sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $71.96, for a total value of $1,079,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 421,640 shares of company stock valued at $24,924,148 in the last ninety days. 0.55% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in ROKU. Bank of New York Mellon Corp raised its position in shares of Roku by 588.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 141,695 shares of the company’s stock worth $6,039,000 after acquiring an additional 121,120 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Roku by 2,154.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,138,496 shares of the company’s stock worth $83,145,000 after acquiring an additional 1,087,991 shares in the last quarter. BlackRock Inc. raised its position in shares of Roku by 2.6% in the 3rd quarter. BlackRock Inc. now owns 3,330,505 shares of the company’s stock worth $243,227,000 after acquiring an additional 85,375 shares in the last quarter. Credit Suisse AG raised its position in shares of Roku by 65.4% in the 3rd quarter. Credit Suisse AG now owns 64,076 shares of the company’s stock worth $4,679,000 after acquiring an additional 25,339 shares in the last quarter. Finally, Dimensional Fund Advisors LP bought a new position in shares of Roku in the 3rd quarter worth approximately $5,455,000. 42.97% of the stock is owned by hedge funds and other institutional investors.

About Roku

Roku, Inc operates a TV streaming platform. The company operates in two segments, Platform and Player. Its platform allows users to discover and access various movies and TV episodes, as well as live sports, music, news, and others. As of December 31, 2018, the company had 27.1 million active accounts.

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Analyst Recommendations for Roku (NASDAQ:ROKU)

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