Roku (NASDAQ:ROKU) Posts Quarterly Earnings Results, Beats Expectations By $0.14 EPS

Roku (NASDAQ:ROKU) announced its earnings results on Wednesday. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.14, Briefing.com reports. The firm had revenue of $250.10 million for the quarter, compared to analysts’ expectations of $223.36 million. Roku had a negative net margin of 2.41% and a negative return on equity of 7.91%. Roku’s quarterly revenue was up 59.5% compared to the same quarter last year. Roku updated its FY 2019 guidance to EPS and its Q3 2019 guidance to EPS.

ROKU stock traded up $3.29 during mid-day trading on Friday, reaching $125.32. The company had a trading volume of 14,514,520 shares, compared to its average volume of 8,409,639. The stock has a market cap of $11.45 billion, a P/E ratio of -1,566.50 and a beta of 2.04. The business has a 50 day moving average of $102.57. Roku has a 12 month low of $26.30 and a 12 month high of $128.20.

In other Roku news, SVP Stephen H. Kay sold 32,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $81.77, for a total value of $2,616,640.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Alan S. Henricks sold 10,000 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $125.10, for a total transaction of $1,251,000.00. The disclosure for this sale can be found here. Insiders sold a total of 671,733 shares of company stock worth $67,177,042 over the last 90 days. Insiders own 22.70% of the company’s stock.

A number of hedge funds have recently modified their holdings of ROKU. PNC Financial Services Group Inc. boosted its stake in shares of Roku by 100.0% during the first quarter. PNC Financial Services Group Inc. now owns 400 shares of the company’s stock valued at $25,000 after purchasing an additional 200 shares in the last quarter. CWM LLC bought a new position in shares of Roku during the first quarter valued at approximately $32,000. James Investment Research Inc. bought a new position in shares of Roku during the first quarter valued at approximately $32,000. Wealthcare Advisory Partners LLC boosted its stake in shares of Roku by 1,000.0% during the first quarter. Wealthcare Advisory Partners LLC now owns 550 shares of the company’s stock valued at $35,000 after purchasing an additional 500 shares in the last quarter. Finally, Mascoma Wealth Management LLC bought a new position in shares of Roku during the first quarter valued at approximately $42,000. Institutional investors and hedge funds own 50.27% of the company’s stock.

ROKU has been the topic of several recent research reports. Oppenheimer upped their target price on shares of Roku from $79.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday. BidaskClub upgraded shares of Roku from a “hold” rating to a “buy” rating in a research report on Saturday. KeyCorp upped their target price on shares of Roku from $76.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, May 9th. DA Davidson upped their target price on shares of Roku from $110.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Cannonball Research set a $105.00 price objective on shares of Roku and gave the stock a “buy” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $101.31.

About Roku

Roku, Inc operates a TV streaming platform. The company operates in two segments, Platform and Player. Its platform allows users to discover and access various movies and TV episodes, as well as live sports, music, news, and others. As of December 31, 2018, the company had 27.1 million active accounts.

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Earnings History for Roku (NASDAQ:ROKU)

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