Seaport Res Ptn Issues Optimistic Forecast for Roku Earnings

Roku, Inc. (NASDAQ:ROKU) – Research analysts at Seaport Res Ptn boosted their FY2024 earnings estimates for shares of Roku in a note issued to investors on Wednesday, October 30th. Seaport Res Ptn analyst D. Joyce now anticipates that the company will post earnings of ($1.18) per share for the year, up from their previous estimate of ($1.32). The consensus estimate for Roku’s current full-year earnings is ($1.41) per share. Seaport Res Ptn also issued estimates for Roku’s Q4 2024 earnings at ($0.53) EPS, Q1 2025 earnings at ($0.32) EPS, Q2 2025 earnings at ($0.20) EPS, Q4 2025 earnings at ($0.52) EPS, FY2025 earnings at ($1.09) EPS and FY2026 earnings at ($0.58) EPS.

Several other equities analysts also recently issued reports on the stock. Macquarie restated an “outperform” rating and issued a $90.00 price objective on shares of Roku in a research note on Thursday. Citigroup raised their price target on Roku from $60.00 to $77.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Loop Capital increased their price objective on Roku from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday. Robert W. Baird lifted their target price on shares of Roku from $56.00 to $75.00 and gave the company a “neutral” rating in a report on Monday, September 30th. Finally, Morgan Stanley increased their price target on shares of Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $83.95.

Roku Trading Up 2.5 %

Shares of NASDAQ:ROKU opened at $65.70 on Monday. The firm has a 50 day simple moving average of $73.22 and a 200-day simple moving average of $63.79. The company has a market capitalization of $9.51 billion, a PE ratio of -54.75 and a beta of 2.07. Roku has a twelve month low of $48.33 and a twelve month high of $108.84.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.29. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($2.33) EPS.

Insider Buying and Selling

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the transaction, the chief executive officer now directly owns 5,020 shares in the company, valued at approximately $376,500. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Gilbert Fuchsberg sold 1,693 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total value of $109,012.27. Following the sale, the insider now directly owns 38,602 shares in the company, valued at $2,485,582.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the transaction, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at $376,500. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,566 shares of company stock worth $5,254,000 in the last three months. Corporate insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

A number of institutional investors have recently modified their holdings of the company. Concurrent Investment Advisors LLC purchased a new stake in Roku in the 3rd quarter worth approximately $274,000. United Advisor Group LLC purchased a new position in Roku during the third quarter worth about $1,068,000. QRG Capital Management Inc. purchased a new position in Roku during the third quarter worth about $214,000. Harbor Capital Advisors Inc. boosted its stake in Roku by 6.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 8,806 shares of the company’s stock worth $657,000 after buying an additional 524 shares during the last quarter. Finally, US Bancorp DE grew its holdings in Roku by 15.7% in the 3rd quarter. US Bancorp DE now owns 3,090 shares of the company’s stock valued at $231,000 after buying an additional 420 shares during the period. Institutional investors and hedge funds own 86.30% 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.