Equities Analysts Issue Forecasts for Roku FY2024 Earnings

Roku, Inc. (NASDAQ:ROKU - Free Report) - Research analysts at Wedbush lifted their FY2024 earnings per share (EPS) estimates for Roku in a research report issued on Wednesday, January 8th. Wedbush analyst A. Reese now forecasts that the company will earn ($1.09) per share for the year, up from their previous forecast of ($1.19). Wedbush currently has a "Outperform" rating and a $100.00 target price on the stock. The consensus estimate for Roku's current full-year earnings is ($1.10) per share. Wedbush also issued estimates for Roku's Q4 2024 earnings at ($0.43) EPS, Q3 2025 earnings at ($0.08) EPS, Q4 2025 earnings at ($0.20) EPS and FY2025 earnings at ($0.96) EPS.

Roku (NASDAQ:ROKU - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.29. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The company's revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($2.33) earnings per share.

Other equities analysts have also recently issued research reports about the stock. Wolfe Research upgraded shares of Roku from a "peer perform" rating to an "outperform" rating and set a $93.00 target price on the stock in a research report on Thursday, September 12th. Moffett Nathanson downgraded Roku from a "neutral" rating to a "sell" rating and set a $55.00 price objective on the stock. in a report on Friday. Citigroup increased their target price on Roku from $60.00 to $77.00 and gave the company a "neutral" rating in a report on Wednesday, September 25th. UBS Group assumed coverage on Roku in a research note on Friday, November 22nd. They issued a "neutral" rating and a $73.00 price target on the stock. Finally, Loop Capital boosted their price objective on Roku from $70.00 to $80.00 and gave the company a "hold" rating in a research report on Monday, December 9th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Roku currently has an average rating of "Hold" and a consensus price target of $82.62.

Roku Trading Down 4.6 %

Shares of ROKU stock traded down $3.81 during trading hours on Friday, hitting $79.19. 3,691,369 shares of the company's stock were exchanged, compared to its average volume of 3,314,609. The company has a market capitalization of $11.50 billion, a PE ratio of -65.99 and a beta of 2.05. Roku has a 12-month low of $48.33 and a 12-month high of $99.80. The business's 50 day simple moving average is $75.99 and its 200-day simple moving average is $69.89.

Institutional Investors Weigh In On Roku

A number of institutional investors have recently modified their holdings of ROKU. Holocene Advisors LP bought a new position in shares of Roku during the third quarter valued at $129,015,000. Westfield Capital Management Co. LP lifted its holdings in shares of Roku by 126.1% during the third quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company's stock valued at $114,646,000 after purchasing an additional 856,401 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Roku by 352.5% during the third quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company's stock valued at $48,653,000 after purchasing an additional 507,643 shares in the last quarter. JAT Capital Mgmt LP lifted its holdings in shares of Roku by 470.2% during the third quarter. JAT Capital Mgmt LP now owns 540,577 shares of the company's stock valued at $40,359,000 after purchasing an additional 445,777 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of Roku by 1.7% during the third quarter. FMR LLC now owns 14,570,372 shares of the company's stock valued at $1,087,824,000 after purchasing an additional 244,793 shares in the last quarter. 86.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Matthew C. Banks sold 8,693 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $71.44, for a total value of $621,027.92. Following the sale, the chief accounting officer now directly owns 7,264 shares of the company's stock, valued at approximately $518,940.16. This represents a 54.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $82.64, for a total value of $2,066,000.00. Following the completion of the sale, the chief executive officer now directly owns 26,538 shares in the company, valued at approximately $2,193,100.32. This represents a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 48,095 shares of company stock valued at $3,731,038 over the last ninety days. Company insiders own 13.98% 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.