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

Roku (NASDAQ:ROKU) released its earnings results on Thursday. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.64) by $0.29, Briefing.com reports. Roku had a negative net margin of 15.64% and a negative return on equity of 23.73%. The company had revenue of $881.50 million during the quarter, compared to analysts’ expectations of $843.54 million. During the same quarter last year, the business earned ($1.38) EPS. The business’s revenue was up 19.0% on a year-over-year basis. Roku updated its Q2 2024 guidance to EPS.

Roku Stock Down 10.3 %

Shares of ROKU stock opened at $56.35 on Friday. The stock has a market cap of $8.09 billion, a price-to-earnings ratio of -14.12 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 firm’s 50 day moving average price is $62.80 and its two-hundred day moving average price is $78.48.

Insider Buying and Selling at Roku

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

Wall Street Analysts Forecast Growth

ROKU has been the subject of several recent analyst reports. Pivotal Research reduced their target price on shares of Roku from $85.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, February 16th. Rosenblatt Securities reiterated a “neutral” rating and issued a $89.00 price objective on shares of Roku in a research note on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of Roku in a research note on Friday. Benchmark reduced their price objective on shares of Roku from $115.00 to $105.00 and set a “buy” rating for the company in a research note on Friday. Finally, Oppenheimer cut shares of Roku from an “outperform” rating to a “market perform” rating in a research note on Friday, February 16th. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $83.90.

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.