What is Wedbush’s Forecast for Roku FY2024 Earnings?

Roku, Inc. (NASDAQ:ROKU) – Investment analysts at Wedbush raised their FY2024 earnings per share estimates for shares of Roku in a research note issued to investors on Wednesday, January 8th. Wedbush analyst A. Reese now anticipates that the company will post earnings of ($1.09) per share for the year, up from their previous estimate of ($1.19). 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 ($1.10) per share. Wedbush also issued estimates for Roku’s Q4 2024 earnings at ($0.43) EPS, Q3 2025 earnings at ($0.08) EPS, Q4 2025 earnings at ($0.20) EPS and FY2025 earnings at ($0.96) EPS.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.29. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The business’s revenue was up 16.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($2.33) EPS.

Several other equities analysts also recently weighed in on ROKU. Benchmark reaffirmed a “buy” rating and issued a $105.00 target price on shares of Roku in a research report on Thursday, September 12th. Robert W. Baird raised Roku from a “neutral” rating to an “outperform” rating and increased their price target for the company from $70.00 to $90.00 in a research report on Monday, November 18th. Citigroup upped their target price on shares of Roku from $60.00 to $77.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Bank of America boosted their price target on shares of Roku from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $83.81.

Roku Stock Performance

Roku stock opened at $83.00 on Friday. The company has a market capitalization of $12.05 billion, a price-to-earnings ratio of -69.17 and a beta of 2.05. Roku has a 1 year low of $48.33 and a 1 year high of $99.80. The company’s 50 day simple moving average is $75.61 and its 200-day simple moving average is $69.80.

Insider Activity at Roku

In other news, CAO Matthew C. Banks sold 8,693 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $71.44, for a total value of $621,027.92. Following the completion of the transaction, the chief accounting officer now owns 7,264 shares in the company, valued at $518,940.16. This trade represents a 54.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.25, for a total transaction of $76,250.00. Following the sale, the chief financial officer now directly owns 53,267 shares in the company, valued at approximately $4,061,608.75. This represents a 1.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,095 shares of company stock worth $3,731,038 in the last quarter. Company insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Several institutional investors have recently modified their holdings of ROKU. Holocene Advisors LP purchased a new stake in Roku during the third quarter worth $129,015,000. Westfield Capital Management Co. LP grew its stake in Roku by 126.1% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock valued at $114,646,000 after acquiring an additional 856,401 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in Roku by 352.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock valued at $48,653,000 after acquiring an additional 507,643 shares in the last quarter. JAT Capital Mgmt LP lifted its holdings in shares of Roku by 470.2% in the third quarter. JAT Capital Mgmt LP now owns 540,577 shares of the company’s stock valued at $40,359,000 after purchasing an additional 445,777 shares in the last quarter. Finally, FMR LLC raised its position in shares of Roku by 1.7% during the 3rd quarter. FMR LLC now owns 14,570,372 shares of the company’s stock worth $1,087,824,000 after purchasing an additional 244,793 shares during the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

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.