Ebene News – United States – Roku surges as profits exceed analysts’ target price hikes

Roku (ROKU) – Shares of Get Report rose on Friday after the video streaming platform company reported fourth-quarter earnings that exceeded expectations and gave an optimistic assessment of its outlook for the future, which in turn has prompted at least two Wall Street analysts to raise their one-year price targets on the stock

Roku’s shares rose 159% to $ 46018 in pre-market commerce on Friday after the San Jose-based company reported surprise fourth-quarter earnings with its streaming platform surpassing 51 million accounts active

Roku posted earnings of 53 cents per share, or 49 cents per share on an adjusted basis, on revenue of $ 649 million, a 58% increase year over year Analysts expected an adjusted loss of 5 cents per share on revenue of $ 617 million

Analysts were broadly positive on the report, with several companies raising their price targets, although some took a more cautious tone on the stock’s valuation

Benchmark analysts called the results a “proof-of-concept quarter consumed for the advertising and distribution platform thesis,” noting that aside from concerns about the evaluation and consensus expectations, “… we see no major obstacle in front of this rocket boat “

The company raised its share price target to $ 600 from $ 410 and maintained its buy rating

Pivot Research, meanwhile, wrote in a research note that Roku’s results were strong and its outlook was better than expected, but also noted that despite the very strong background and outlook for the company , “… It’s unquestionably expensive” Pivot raised its one-year price target on Roku to $ 400 from $ 240 while maintaining its maintenance rating

Bank of America Still Maintains High Wall Street Price Target Last month, the bank raised its one-year price target on Roku to $ 500 from $ 380, optimistic that its deal content rights acquisition from short-lived video streaming company Quibi has shown its focus on content

Roku shares more than tripled last year from a 42% gain for the Nasdaq

Roku Stock

Ebene News – US – Roku surges as profits exceed Sparks analysts’ price hikes

Source: https://www.thestreet.com/investing/roku-stock-earnings-beat-analysts-price-target-021921