Wedbush Comments on Roku’s FY2024 Earnings (NASDAQ:ROKU)

Roku, Inc. (NASDAQ:ROKU) – Equities research analysts at Wedbush lifted their FY2024 earnings per share (EPS) estimates for shares of Roku in a research report issued on Thursday, October 31st. Wedbush analyst A. Reese now expects that the company will earn ($1.19) per share for the year, up from their prior estimate of ($1.39). Wedbush currently has a “Outperform” rating and a $85.00 target price on the stock. The consensus estimate for Roku’s current full-year earnings is ($1.41) per share. Wedbush also issued estimates for Roku’s Q4 2024 earnings at ($0.54) EPS, Q1 2025 earnings at ($0.41) EPS, Q2 2025 earnings at ($0.26) EPS, Q3 2025 earnings at ($0.05) EPS, Q4 2025 earnings at ($0.29) EPS, FY2025 earnings at ($1.02) EPS and FY2026 earnings at $0.19 EPS.

Other equities analysts have also issued research reports about the company. JPMorgan Chase & Co. lifted their target price on Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Rosenblatt Securities lifted their price objective on shares of Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Citigroup raised their target price on shares of Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Benchmark reiterated a “buy” rating and set a $105.00 price objective on shares of Roku in a report on Thursday, September 12th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of Roku in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $83.95.

Roku Stock Up 2.3 %

Shares of NASDAQ:ROKU opened at $67.18 on Monday. Roku has a 52 week low of $48.33 and a 52 week high of $108.84. The firm has a 50 day moving average of $73.17 and a 200 day moving average of $63.85. The company has a market capitalization of $9.72 billion, a price-to-earnings ratio of -55.98 and a beta of 2.07.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.29. Roku had a negative net margin of 4.42% and a negative return on equity of 7.30%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the business posted ($2.33) EPS. The company’s quarterly revenue was up 16.5% compared to the same quarter last year.

Insider Activity at Roku

In other Roku news, insider Charles Collier sold 15,454 shares of Roku stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,159,050.00. Following the sale, the insider now owns 200 shares of the company’s stock, valued at $15,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total transaction of $109,012.27. Following the sale, the insider now owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charles Collier sold 15,454 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total value of $1,159,050.00. Following the completion of the transaction, the insider now owns 200 shares of the company’s stock, valued at $15,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,776 shares of company stock valued at $5,267,305. 13.98% of the stock is owned by insiders.

Hedge Funds Weigh In On Roku

Several large investors have recently modified their holdings of the business. ARK Investment Management LLC lifted its position in Roku by 1.3% in the second quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock valued at $762,096,000 after buying an additional 159,785 shares during the last quarter. Vanguard Group Inc. increased its holdings in Roku by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock valued at $778,560,000 after purchasing an additional 92,658 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Roku by 5.2% during the second quarter. Bank of New York Mellon Corp now owns 500,794 shares of the company’s stock worth $30,013,000 after purchasing an additional 24,926 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Roku by 138.1% during the first quarter. Canada Pension Plan Investment Board now owns 342,400 shares of the company’s stock worth $22,314,000 after buying an additional 198,600 shares during the period. Finally, Andra AP fonden grew its stake in shares of Roku by 116.6% in the second quarter. Andra AP fonden now owns 293,900 shares of the company’s stock valued at $17,613,000 after buying an additional 158,200 shares in the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

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.