Wedbush Forecasts Roku’s FY2024 Earnings (NASDAQ:ROKU)

Roku, Inc. (NASDAQ:ROKU) – Research analysts at Wedbush raised their FY2024 earnings per share (EPS) estimates for shares of Roku in a note issued to investors on Thursday, October 31st. Wedbush analyst A. Reese now anticipates that the company will earn ($1.19) per share for the year, up from their previous forecast of ($1.39). Wedbush has a “Outperform” rating and a $85.00 price objective on the stock. The consensus estimate for Roku’s current full-year earnings is ($1.14) 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.

A number of other equities analysts have also recently weighed in on the company. Robert W. Baird increased their price target on Roku from $56.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, September 30th. Rosenblatt Securities increased their target price on Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Guggenheim raised Roku from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Friday, August 23rd. Wells Fargo & Company increased their target price on Roku from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Finally, Loop Capital increased their target price on Roku from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $83.95.

Roku Trading Up 3.7 %

NASDAQ ROKU opened at $69.67 on Monday. The stock has a market cap of $10.08 billion, a PE ratio of -58.06 and a beta of 2.07. Roku has a twelve month low of $48.33 and a twelve month high of $108.84. The stock has a fifty day simple moving average of $73.17 and a 200-day simple moving average of $63.94.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.29. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations 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 period in the prior year, the business posted ($2.33) EPS.

Insider Buying and Selling

In related news, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $76.25, for a total transaction of $76,250.00. Following the transaction, the chief financial officer now owns 53,267 shares in the company, valued at $4,061,608.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Roku news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $76.25, for a total value of $76,250.00. Following the transaction, the chief financial officer now directly owns 53,267 shares in the company, valued at approximately $4,061,608.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $77.20, for a total value of $1,930,000.00. Following the completion of the transaction, the chief executive officer now owns 5,020 shares in the company, valued at $387,544. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,776 shares of company stock worth $5,267,305 in the last quarter. 13.98% of the stock is owned by insiders.

Institutional Trading of Roku

Several hedge funds have recently modified their holdings of ROKU. Allspring Global Investments Holdings LLC lifted its holdings in shares of Roku by 243.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,045 shares of the company’s stock valued at $133,000 after buying an additional 1,449 shares during the period. Private Advisor Group LLC boosted its position in Roku by 65.5% during the first quarter. Private Advisor Group LLC now owns 22,305 shares of the company’s stock worth $1,454,000 after purchasing an additional 8,824 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in Roku by 206.7% during the first quarter. Janney Montgomery Scott LLC now owns 26,925 shares of the company’s stock worth $1,755,000 after purchasing an additional 18,146 shares in the last quarter. Nordea Investment Management AB boosted its position in Roku by 8.2% during the first quarter. Nordea Investment Management AB now owns 7,842 shares of the company’s stock worth $516,000 after purchasing an additional 595 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in Roku by 411.0% during the first quarter. Daiwa Securities Group Inc. now owns 46,689 shares of the company’s stock worth $3,042,000 after purchasing an additional 37,552 shares in the last quarter. 86.30% of the stock is owned by institutional investors and hedge funds.

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.