Zacks: Brokerages Expect Roku, Inc. (NASDAQ:ROKU) Will Post Quarterly Sales of $617.20 Million

Brokerages predict that Roku, Inc. (NASDAQ:ROKU) will post $617.20 million in sales for the current quarter, according to Zacks. Seven analysts have provided estimates for Roku’s earnings, with the lowest sales estimate coming in at $609.75 million and the highest estimate coming in at $626.00 million. Roku posted sales of $356.07 million in the same quarter last year, which suggests a positive year-over-year growth rate of 73.3%. The firm is expected to report its next earnings results on Wednesday, August 4th.

According to Zacks, analysts expect that Roku will report full year sales of $2.74 billion for the current financial year, with estimates ranging from $2.71 billion to $2.78 billion. For the next year, analysts anticipate that the company will report sales of $3.80 billion, with estimates ranging from $3.41 billion to $4.11 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Roku.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Thursday, May 6th. The company reported $0.54 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.67. Roku had a return on equity of 7.56% and a net margin of 5.58%. The firm had revenue of $574.20 million for the quarter, compared to analyst estimates of $490.95 million. During the same quarter last year, the company earned ($0.45) EPS. The company’s revenue was up 79.0% on a year-over-year basis.

ROKU has been the topic of a number of recent research reports. Macquarie raised their price objective on Roku from $400.00 to $485.00 and gave the stock an “outperform” rating in a research note on Thursday, June 24th. Evercore ISI lifted their price target on Roku from $400.00 to $430.00 and gave the company an “outperform” rating in a research note on Friday, May 7th. Loop Capital upgraded Roku from a “hold” rating to a “buy” rating and set a $450.00 price target on the stock in a research note on Friday, May 7th. Truist upgraded Roku from a “hold” rating to a “buy” rating and decreased their price target for the company from $480.00 to $367.00 in a research note on Tuesday, March 30th. Finally, Bank of America lifted their price target on Roku from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, June 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twenty have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $436.80.

Roku stock traded down $0.68 during mid-day trading on Friday, reaching $421.45. 109,325 shares of the company were exchanged, compared to its average volume of 3,815,042. The firm’s fifty day simple moving average is $377.67. Roku has a 12 month low of $143.21 and a 12 month high of $486.72. The company has a current ratio of 4.38, a quick ratio of 4.31 and a debt-to-equity ratio of 0.04. The company has a market cap of $55.80 billion, a price-to-earnings ratio of 546.66 and a beta of 1.80.

In other news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction dated Monday, May 17th. The stock was sold at an average price of $311.89, for a total value of $7,797,250.00. Following the transaction, the chief executive officer now directly owns 25,000 shares of the company’s stock, valued at approximately $7,797,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alan S. Henricks sold 1,000 shares of the business’s stock in a transaction dated Monday, May 10th. The shares were sold at an average price of $316.00, for a total value of $316,000.00. Following the completion of the transaction, the director now directly owns 4,287 shares in the company, valued at $1,354,692. The disclosure for this sale can be found here. Insiders have sold a total of 346,775 shares of company stock worth $131,243,151 over the last ninety days. Company insiders own 22.70% of the company’s stock.

A number of institutional investors have recently modified their holdings of ROKU. St. Johns Investment Management Company LLC bought a new stake in Roku during the 1st quarter worth approximately $26,000. Truvestments Capital LLC bought a new stake in Roku during the 4th quarter worth approximately $33,000. BerganKDV Wealth Management LLC increased its holdings in Roku by 152.5% during the 1st quarter. BerganKDV Wealth Management LLC now owns 101 shares of the company’s stock worth $33,000 after purchasing an additional 61 shares in the last quarter. Northern Oak Wealth Management Inc. increased its holdings in Roku by 100.0% during the 1st quarter. Northern Oak Wealth Management Inc. now owns 100 shares of the company’s stock worth $33,000 after purchasing an additional 50 shares in the last quarter. Finally, Winch Advisory Services LLC increased its holdings in Roku by 39.3% during the 1st quarter. Winch Advisory Services LLC now owns 117 shares of the company’s stock worth $38,000 after purchasing an additional 33 shares in the last quarter. 60.59% of the stock is owned by institutional investors and hedge funds.

Roku Company Profile

Roku, Inc, together with its subsidiaries, 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, 2020, the company had 51.2 million active accounts.

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Earnings History and Estimates for Roku (NASDAQ:ROKU)

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