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Investing In Roku Inc. (NASDAQ: ROKU) Stock. Performance & Trends

In the latest trading session, 1.12 million Roku Inc. (NASDAQ:ROKU) shares changed hands as the company’s beta touched 1.76. With the company’s most recent per share price at $75.57 changed hands at -$0.69 or -0.90% at last look, the market valuation stands at $10.91B. ROKU’s current price is a discount, trading about -30.26% off its 52-week high of $98.44. The share price had its 52-week low at $38.26, which suggests the last value was 49.37% up since then. When we look at Roku Inc.’s average trading volume, we note the 10-day average is 9.61 million shares, with the 3-month average coming to 8.52 million.

Analysts gave the Roku Inc. (ROKU) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.70. If we narrow down to specifics, the data shows that 4 out of 34 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 18 recommended ROKU as a Hold, 11 felt it is a Buy and 1 rated the stock as Underweight. Roku Inc.’s EPS for the current quarter is expected to be -$1.73.

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Roku Inc. (NASDAQ:ROKU) trade information

Instantly ROKU was in red as seen in intraday trades today. With action -10.30%, the performance over the past five days has been red. The drop to weekly highs of 85.77 on Friday, 09/15/23 subtracted -0.90% to the stock’s daily price. The company’s shares are showing year-to-date upside of 85.68%, with the 5-day performance at -10.30% in the red. However, in the 30-day time frame, Roku Inc. (NASDAQ:ROKU) is -2.15% down. Looking at the short shares, we see there were 10.16 million shares sold at short interest cover period of 1.3 days.

The consensus price target for the stock as assigned by Wall Street analysts is $85.35, meaning bulls need an upside of 11.46% from its recent market value. According to analyst projections, ROKU’s forecast low is $50.00 with $115.00 as the target high. To hit the forecast high, the stock’s price needs a -52.18% plunge from its current level, while the stock would need to tank 33.84% for it to hit the projected low.

Roku Inc. (ROKU) estimates and forecasts

Data shows that the Roku Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 17.64% over the past 6 months, a -40.33% in annual growth rate that is considerably lower than the industry average of -20.40%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Roku Inc. will fall -96.60%, while the growth in revenue is estimated to hit 28.80% for the next quarter. Year-over-year growth is forecast to reach 8.00% up from the last financial year.

Consensus estimates given by 24 financial analysts project the company’s revenue in the current quarter to hit an average of $849.19 million. 24 analysts are of the opinion that Roku Inc.’s revenue for the quarter ending Dec 2023 will be $955.18 million. The company’s revenue for the corresponding quarters a year ago was $694.01 million and $867.06 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 22.40%. The estimates for the next quarter sales put growth at 10.20%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -41.40%. The 2023 estimates are for Roku Inc. earnings to decrease by -311.40%, but the outlook for the next 5-year period is at 43.00% per year.

ROKU Dividends

Roku Inc. is expected to release its next quarterly earnings report between October 31 and November 06.

Roku Inc. (NASDAQ:ROKU)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.44% of Roku Inc. shares while 81.77% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 82.13%. There are 81.77% institutions holding the Roku Inc. stock share, with ARK Investment Management, LLC the top institutional holder. As of Jun 29, 2023, the company held 9.64% of the shares, roughly 11.96 million ROKU shares worth $897.59 million.

Vanguard Group Inc holds the second largest percentage of outstanding shares, with 9.18% or 11.4 million shares worth $855.34 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Aug 30, 2023 were ARK ETF Tr-ARK Innovation ETF and Fidelity Advisor Growth Opportunities Fund. With 8.1 million shares estimated at $608.28 million under it, the former controlled 6.53% of total outstanding shares. On the other hand, Fidelity Advisor Growth Opportunities Fund held about 3.58% of the shares, roughly 4.45 million shares worth around $333.91 million.

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