Roku (NASDAQ:ROKU) Issues Earnings Results

Roku (NASDAQ:ROKU) released its quarterly earnings data on Thursday. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.29, Briefing.com reports. The company 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 23.73% and a negative net margin of 15.64%. The firm’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.38) earnings per share. Roku updated its Q2 2024 guidance to EPS.

Roku Stock Performance

Shares of NASDAQ ROKU opened at $56.35 on Friday. Roku has a fifty-two week low of $51.62 and a fifty-two week high of $108.84. The firm has a market capitalization of $8.09 billion, a PE ratio of -14.12 and a beta of 1.66. The stock’s 50-day simple moving average is $62.80 and its 200-day simple moving average is $78.52.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ROKU shares. Citigroup lowered their price objective on Roku from $110.00 to $75.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 21st. Pivotal Research decreased their price target on Roku from $85.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of Roku in a research note on Friday. Stephens reissued an “overweight” rating and set a $105.00 target price on shares of Roku in a research note on Friday, February 16th. Finally, Morgan Stanley decreased their target price on Roku from $65.00 to $60.00 and set an “underweight” rating on the stock in a research note on Friday, April 5th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $86.05.

Insider Transactions at Roku

In other news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $98.64, for a total transaction of $2,466,000.00. Following the sale, the chief executive officer now owns 141,221 shares of the company’s stock, valued at approximately $13,930,039.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Roku news, insider Charles Collier sold 4,182 shares of Roku stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $65.00, for a total transaction of $271,830.00. Following the transaction, the insider now owns 8,474 shares of the company’s stock, valued at $550,810. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $98.64, for a total value of $2,466,000.00. Following the transaction, the chief executive officer now directly owns 141,221 shares in the company, valued at approximately $13,930,039.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,545 shares of company stock valued at $4,364,035. Corporate insiders own 13.63% 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.