Brokers Offer Predictions for Roku, Inc.’s Q3 2023 Earnings (NASDAQ:ROKU)

Posted by Defense World Staff on Sep 11th, 2023

Roku, Inc. (NASDAQ:ROKU – Free Report) – Wedbush dropped their Q3 2023 earnings per share (EPS) estimates for Roku in a note issued to investors on Thursday, September 7th. Wedbush analyst A. Reese now forecasts that the company will post earnings of ($2.91) per share for the quarter, down from their prior forecast of ($0.93). Wedbush has a “Outperform” rating and a $100.00 price objective on the stock. The consensus estimate for Roku’s current full-year earnings is ($4.52) per share. Wedbush also issued estimates for Roku’s Q4 2023 earnings at ($1.16) EPS, FY2023 earnings at ($6.21) EPS, Q1 2024 earnings at ($0.90) EPS, Q2 2024 earnings at ($0.57) EPS, Q3 2024 earnings at ($0.48) EPS, Q4 2024 earnings at ($0.39) EPS, FY2024 earnings at ($2.33) EPS and FY2025 earnings at $0.46 EPS.

A number of other equities analysts have also recently issued reports on the company. Morgan Stanley upped their target price on Roku from $50.00 to $55.00 and gave the stock an “underweight” rating in a report on Monday, July 31st. JPMorgan Chase & Co. raised their price objective on shares of Roku from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday. Evercore ISI boosted their target price on shares of Roku from $70.00 to $75.00 and gave the stock an “in-line” rating in a report on Friday, July 28th. Needham & Company LLC raised their price target on shares of Roku from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Wells Fargo & Company lifted their price target on shares of Roku from $63.00 to $84.00 and gave the stock an “equal weight” rating in a report on Friday, July 28th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Roku presently has a consensus rating of “Hold” and a consensus price target of $82.17.

Read Our Latest Analysis on ROKU

Roku Stock Performance

Shares of ROKU opened at $83.47 on Monday. Roku has a 52 week low of $38.26 and a 52 week high of $98.44. The stock has a market capitalization of $11.81 billion, a price-to-earnings ratio of -17.68 and a beta of 1.76. The stock has a fifty day moving average of $78.48 and a 200-day moving average of $67.48.

Roku (NASDAQ:ROKU – Get Free Report) last released its quarterly earnings data on Thursday, July 27th. The company reported ($0.76) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.28) by $0.52. Roku had a negative net margin of 20.54% and a negative return on equity of 25.15%. The business had revenue of $847.20 million during the quarter, compared to analysts’ expectations of $774.65 million. During the same period in the prior year, the company earned ($0.82) EPS. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year.

Institutional Trading of Roku

Institutional investors and hedge funds have recently modified their holdings of the stock. Covestor Ltd raised its position in Roku by 693.2% in the 1st quarter. Covestor Ltd now owns 349 shares of the company’s stock valued at $44,000 after buying an additional 305 shares during the last quarter. Quarry LP bought a new position in shares of Roku during the second quarter valued at about $25,000. Machina Capital S.A.S. purchased a new position in Roku during the first quarter worth about $26,000. Spire Wealth Management boosted its holdings in Roku by 58.3% during the second quarter. Spire Wealth Management now owns 459 shares of the company’s stock worth $29,000 after purchasing an additional 169 shares during the last quarter. Finally, ICA Group Wealth Management LLC bought a new stake in Roku in the 4th quarter worth about $25,000. 69.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Roku

In other Roku news, SVP Stephen H. Kay sold 5,692 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $91.68, for a total value of $521,842.56. Following the transaction, the senior vice president now owns 78,527 shares in the company, valued at $7,199,355.36. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Dan Jedda sold 5,297 shares of Roku stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $82.69, for a total transaction of $438,008.93. Following the completion of the transaction, the chief financial officer now directly owns 12,429 shares in the company, valued at $1,027,754.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Stephen H. Kay sold 5,692 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $91.68, for a total transaction of $521,842.56. Following the completion of the sale, the senior vice president now owns 78,527 shares in the company, valued at approximately $7,199,355.36. The disclosure for this sale can be found here. Insiders sold 17,032 shares of company stock valued at $1,459,547 in the last three months. Corporate insiders own 13.63% of the company’s stock.

Roku Company Profile

(Get Free Report)

Roku, Inc, together with its subsidiaries, operates a TV streaming platform. 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 company also provides digital advertising and related services, including the demand-side ad platform and content distribution services, such as subscription and transaction revenue shares; media and entertainment promotional spending services; premium subscriptions services; video and display advertising services; and sells branded channel buttons on remote controls of streaming device.