Roku (NASDAQ:ROKU) Posts Quarterly Earnings Results, Beats Estimates By $0.20 EPS

Roku (NASDAQ:ROKU) released its quarterly earnings results on Thursday. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.20, Zacks reports. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%.

Roku Price Performance

ROKU stock traded up $2.02 during midday trading on Thursday, hitting $86.80. The company’s stock had a trading volume of 9,029,498 shares, compared to its average volume of 3,112,672. The company’s fifty day moving average price is $80.17 and its 200 day moving average price is $73.28. Roku has a twelve month low of $48.33 and a twelve month high of $95.17. The stock has a market capitalization of $12.60 billion, a P/E ratio of -72.33 and a beta of 2.05.

Insider Activity

In other Roku news, CAO Matthew C. Banks sold 8,693 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $71.44, for a total transaction of $621,027.92. Following the transaction, the chief accounting officer now owns 7,264 shares of the company’s stock, valued at $518,940.16. The trade was a 54.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $75.00, for a total value of $75,000.00. Following the transaction, the chief financial officer now directly owns 65,555 shares in the company, valued at $4,916,625. The trade was a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,885 shares of company stock worth $7,911,162 in the last quarter. Corporate insiders own 13.98% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on ROKU. Wells Fargo & Company upped their price target on shares of Roku from $72.00 to $74.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Baird R W upgraded Roku from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. Rosenblatt Securities restated a “neutral” rating and issued a $86.00 price target on shares of Roku in a research report on Thursday. UBS Group assumed coverage on Roku in a research report on Friday, November 22nd. They set a “neutral” rating and a $73.00 price target on the stock. Finally, Piper Sandler lifted their target price on Roku from $60.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $83.18.

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.