Roku (NASDAQ:ROKU) Posts Earnings Results, Beats Estimates By $0.29 EPS

Roku (NASDAQ:ROKU) posted its quarterly earnings data on Thursday. The company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.29, Briefing.com reports. The business had revenue of $881.50 million for the quarter, compared to analyst estimates of $843.54 million. Roku had a negative return on equity of 29.21% and a negative net margin of 20.36%. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same period in the previous year, the company posted ($1.38) earnings per share. Roku updated its Q2 2024 guidance to EPS.

Roku Price Performance

Shares of ROKU traded down $6.46 on Friday, hitting $56.35. The company’s stock had a trading volume of 18,005,094 shares, compared to its average volume of 5,809,332. The company has a market capitalization of $8.09 billion, a PE ratio of -11.26 and a beta of 1.66. Roku has a fifty-two week low of $51.62 and a fifty-two week high of $108.84. The company has a 50 day moving average price of $63.11 and a 200 day moving average price of $78.59.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ROKU. Susquehanna lifted their price objective on Roku from $100.00 to $110.00 and gave the stock a “positive” rating in a research note on Friday, February 16th. Piper Sandler reiterated a “neutral” rating and issued a $65.00 price objective (down from $81.00) on shares of Roku in a research note on Friday. Wedbush dropped their price objective on Roku from $80.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday. Wells Fargo & Company lifted their price objective on Roku from $45.00 to $52.00 and gave the stock an “underweight” rating in a research note on Friday. Finally, Morgan Stanley lowered their price target on Roku from $65.00 to $60.00 and set an “underweight” rating on the stock in a research note on Friday, April 5th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Roku currently has an average rating of “Hold” and a consensus target price of $83.90.

Insider Transactions at Roku

In other news, SVP Stephen H. Kay sold 4,310 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $63.20, for a total value of $272,392.00. Following the transaction, the senior vice president now directly owns 81,459 shares of the company’s stock, valued at approximately $5,148,208.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $98.64, for a total value of $2,466,000.00. Following the completion of the transaction, the chief executive officer now owns 141,221 shares in the company, valued at approximately $13,930,039.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Stephen H. Kay sold 4,310 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $63.20, for a total transaction of $272,392.00. Following the completion of the transaction, the senior vice president now owns 81,459 shares of the company’s stock, valued at approximately $5,148,208.80. The disclosure for this sale can be found here. Insiders have sold 54,545 shares of company stock valued at $4,364,035 in the last three months. 13.63% of the stock is owned by corporate insiders.

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.