Roku, Inc. to Post Q3 2024 Earnings of ($0.32) Per Share, Seaport Res Ptn Forecasts (NASDAQ:ROKU)

Roku, Inc. (NASDAQ:ROKU) – Stock analysts at Seaport Res Ptn lifted their Q3 2024 earnings per share estimates for shares of Roku in a research report issued to clients and investors on Wednesday, September 18th. Seaport Res Ptn analyst D. Joyce now forecasts that the company will post earnings per share of ($0.32) for the quarter, up from their previous estimate of ($0.34). The consensus estimate for Roku’s current full-year earnings is ($1.45) per share. Seaport Res Ptn also issued estimates for Roku’s Q4 2024 earnings at ($0.40) EPS, FY2024 earnings at ($1.32) EPS, Q3 2025 earnings at ($0.05) EPS and FY2025 earnings at ($0.61) EPS.

A number of other brokerages also recently issued reports on ROKU. Guggenheim raised Roku from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a report on Friday, August 23rd. Needham & Company LLC restated a “buy” rating and set a $100.00 target price on shares of Roku in a research note on Friday, September 13th. Macquarie dropped their price target on shares of Roku from $88.00 to $72.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Benchmark reissued a “buy” rating and set a $105.00 price objective on shares of Roku in a report on Thursday, September 12th. Finally, Bank of America lowered their target price on shares of Roku from $85.00 to $75.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $78.75.

Roku Trading Down 1.8 %

Roku stock opened at $76.02 on Monday. The company has a fifty day simple moving average of $63.33 and a 200-day simple moving average of $61.14. The stock has a market cap of $10.96 billion, a P/E ratio of -19.05 and a beta of 2.06. Roku has a 12-month low of $48.33 and a 12-month high of $108.84.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.21. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The company had revenue of $968.18 million during the quarter, compared to the consensus estimate of $937.78 million. During the same quarter in the previous year, the firm earned ($0.76) earnings per share. The firm’s quarterly revenue was up 14.3% on a year-over-year basis.

Insider Activity

In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total transaction of $109,012.27. Following the sale, the insider now directly owns 38,602 shares in the company, valued at $2,485,582.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Gilbert Fuchsberg sold 1,693 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction that occurred 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 of the company’s stock, valued at $4,087,933.11. The disclosure for this sale can be found here. In the last three months, insiders sold 46,945 shares of company stock worth $3,465,135. Company insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Several institutional investors and hedge funds have recently made changes to their positions in the stock. ARK Investment Management LLC boosted its position in Roku by 1.3% during the second quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock worth $762,096,000 after acquiring an additional 159,785 shares during the last quarter. Vanguard Group Inc. increased its stake in Roku by 0.8% in the first quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock valued at $778,560,000 after purchasing an additional 92,658 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Roku by 24.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock worth $478,939,000 after buying an additional 1,457,925 shares during the period. Nikko Asset Management Americas Inc. boosted its stake in Roku by 25.8% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock worth $462,108,000 after buying an additional 1,455,408 shares during the last quarter. Finally, Norges Bank purchased a new stake in Roku in the 4th quarter valued at about $90,386,000. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

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.