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

Roku (NASDAQ:ROKU - Get Free Report) announced its quarterly earnings results on Thursday. The company reported ($0.35) earnings per share for the quarter, beating analysts' consensus estimates of ($0.64) by $0.29, Briefing.com reports. Roku had a negative net margin of 20.36% and a negative return on equity of 29.21%. The firm had revenue of $881.50 million during the quarter, compared to analysts' expectations of $843.54 million. During the same period in the previous year, the company earned ($1.38) earnings per share. Roku's quarterly revenue was up 19.0% compared to the same quarter last year. Roku updated its Q2 2024 guidance to EPS.

Roku Trading Down 10.3 %

Shares of ROKU traded down $6.46 during mid-day trading on Friday, reaching $56.35. The company had a trading volume of 18,064,222 shares, compared to its average volume of 5,809,822. The stock has a market cap of $8.09 billion, a price-to-earnings ratio of -11.23 and a beta of 1.66. The firm has a fifty day simple moving average of $62.80 and a 200-day simple moving average of $78.48. Roku has a fifty-two week low of $51.62 and a fifty-two week high of $108.84.

Insider Buying and Selling at Roku

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction on Monday, February 12th. The shares were sold at an average price of $98.64, for a total value of $2,466,000.00. Following the transaction, the chief executive officer now owns 141,221 shares in the company, valued at approximately $13,930,039.44. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Charles Collier sold 12,277 shares of Roku stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $65.06, for a total transaction of $798,741.62. Following the transaction, the insider now owns 4,292 shares in the company, valued at approximately $279,237.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction on Monday, February 12th. The shares were sold at an average price of $98.64, for a total transaction of $2,466,000.00. Following the transaction, the chief executive officer now owns 141,221 shares in the company, valued at approximately $13,930,039.44. The disclosure for this sale can be found here. Insiders have sold a total of 54,545 shares of company stock worth $4,364,035 in the last quarter. 13.63% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $100.00 target price on shares of Roku in a report on Friday. Wedbush lowered their price target on shares of Roku from $80.00 to $75.00 and set an "outperform" rating on the stock in a research report on Friday. Wells Fargo & Company increased their price target on shares of Roku from $45.00 to $52.00 and gave the company an "underweight" rating in a research report on Friday. Benchmark lowered their price target on shares of Roku from $115.00 to $105.00 and set a "buy" rating on the stock in a research report on Friday. Finally, Oppenheimer lowered shares of Roku from an "outperform" rating to a "market perform" rating in a research report on Friday, February 16th. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $83.90.

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.