Roku, Inc. (ROKU) Issues Quarterly Earnings Results
Roku, Inc. (NASDAQ:ROKU) posted its earnings results on Wednesday. The company reported ($0.10) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.68) by $1.58, Briefing.com reports. The business had revenue of $124.80 million for the quarter, compared to the consensus estimate of $110.47 million. The company’s revenue was up 40.1% compared to the same quarter last year.
Shares of Roku (NASDAQ ROKU) traded up $4.06 during trading on Friday, hitting $33.25. The stock had a trading volume of 34,454,953 shares, compared to its average volume of 7,266,557. Roku has a 12 month low of $15.75 and a 12 month high of $36.65.
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In other news, major shareholder Mv Management X, L.L.C. sold 6,900,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $14.00, for a total value of $96,600,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Several research analysts have weighed in on ROKU shares. Needham & Company LLC started coverage on Roku in a report on Monday, October 23rd. They set a “buy” rating and a $28.00 target price on the stock. Citigroup Inc. started coverage on Roku in a report on Monday, October 23rd. They set a “neutral” rating and a $24.00 target price on the stock. William Blair started coverage on Roku in a report on Monday, October 23rd. They set an “outperform” rating on the stock. CIBC started coverage on Roku in a report on Monday, October 23rd. They set a “market perform” rating on the stock. Finally, Royal Bank Of Canada started coverage on Roku in a report on Monday, October 23rd. They set a “sector perform” rating and a $26.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $26.20.
Roku, Inc is a United States-based company engaged in creating streaming platform for delivering entertainment to the television. The Company’s products include Roku 4, Roku 3, Roku 2, Roku 1, Roku Streaming Stick and accessories, such as cables, remote controls, power adapters and headphones. Its Roku streaming players and the Roku Streaming Stick are sold through retailers in the United States, Canada, the United Kingdom, the Republic of Ireland, Mexico and France.
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