Wall Street brokerages predict that Roku Inc (NASDAQ:ROKU) will announce sales of $170.91 million for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Roku’s earnings, with estimates ranging from $167.77 million to $175.70 million. Roku posted sales of $124.78 million in the same quarter last year, which suggests a positive year over year growth rate of 37%. The business is expected to announce its next earnings results on Wednesday, November 14th.
According to Zacks, analysts expect that Roku will report full year sales of $722.45 million for the current fiscal year, with estimates ranging from $710.55 million to $731.60 million. For the next fiscal year, analysts anticipate that the firm will post sales of $965.30 million, with estimates ranging from $937.03 million to $989.90 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Roku.
Several equities research analysts recently weighed in on the company. Zacks Investment Research cut Roku from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. Loop Capital upped their price target on Roku to $52.00 and gave the stock a “hold” rating in a research note on Tuesday, August 28th. Citigroup upped their price target on Roku to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 12th. BidaskClub raised Roku from a “hold” rating to a “buy” rating in a research note on Saturday, June 16th. Finally, KeyCorp upped their price target on Roku from $54.00 to $67.00 and gave the stock an “overweight” rating in a research note on Thursday, August 9th. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Roku presently has an average rating of “Buy” and an average target price of $62.25.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA purchased a new stake in shares of Roku in the first quarter worth $156,000. SevenBridge Financial Group LLC purchased a new stake in shares of Roku in the second quarter worth $158,000. Wealthcare Advisory Partners LLC grew its stake in shares of Roku by 5,900.0% in the first quarter. Wealthcare Advisory Partners LLC now owns 6,000 shares of the company’s stock worth $187,000 after acquiring an additional 5,900 shares during the last quarter. Rikoon Group LLC purchased a new stake in shares of Roku in the first quarter worth $202,000. Finally, Gabelli Funds LLC purchased a new stake in shares of Roku in the second quarter worth $213,000. 33.75% of the stock is currently owned by hedge funds and other institutional investors.
ROKU stock traded up $4.33 during midday trading on Monday, hitting $60.41. The stock had a trading volume of 14,195,168 shares, compared to its average volume of 6,646,812. The stock has a market cap of $7.75 billion and a price-to-earnings ratio of -26.97. Roku has a 52-week low of $18.35 and a 52-week high of $77.57.
Roku, Inc operates a TV streaming platform. The company operates in two segments, Player and Platform. Its platform allows users to search, discover, and access approximately 500,000 movies and TV episodes, as well as live sports, music, news, and others. As of December 31, 2017, the company had 19.3 million active accounts.
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