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

Roku (NASDAQ:ROKU) posted its quarterly earnings data on Wednesday. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.29, Briefing.com reports. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Roku had a negative return on equity of 7.30% and a negative net margin of 4.42%. The business’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($2.33) EPS. Roku updated its Q4 2024 guidance to EPS.

Roku Stock Up 2.5 %

Roku stock traded up $1.62 during mid-day trading on Friday, reaching $65.70. 6,782,373 shares of the company were exchanged, compared to its average volume of 3,686,989. Roku has a 12-month low of $48.33 and a 12-month high of $108.84. The business has a fifty day moving average of $73.22 and a 200 day moving average of $63.71.

Wall Street Analyst Weigh In

Several analysts have recently commented on ROKU shares. Moffett Nathanson upgraded shares of Roku from a “sell” rating to a “neutral” rating and set a $80.00 price objective on the stock in a research report on Tuesday, October 1st. Guggenheim upgraded shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Friday, August 23rd. Citigroup raised their price target on Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Macquarie reaffirmed an “outperform” rating and issued a $90.00 price target on shares of Roku in a report on Thursday. Finally, Jefferies Financial Group dropped their price target on Roku from $60.00 to $55.00 and set an “underperform” rating for the company in a research report on Friday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $83.95.

Insider Buying and Selling

In other Roku news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total value of $75,330.00. Following the transaction, the chief financial officer now owns 54,267 shares in the company, valued at $4,087,933.11. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the sale, the chief executive officer now owns 5,020 shares in the company, valued at approximately $376,500. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total value of $75,330.00. Following the transaction, the chief financial officer now owns 54,267 shares in the company, valued at approximately $4,087,933.11. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,566 shares of company stock worth $5,254,000 in the last three months. 13.98% of the stock is owned by 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.