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Why Roku Shares Are Rising

Roku Inc (NASDAQ: ROKU) shares are trading higher by 4.50% at $95.75 after the company reported better-than-expected first-quarter sales results.

Benzinga · 04/29/2022 10:29

Roku Inc (NASDAQ:ROKU) shares are trading higher by 4.50% at $95.75 after the company reported better-than-expected first-quarter sales results.

Roku reported an EPS loss of 19 cents, which missed the analyst consensus estimate of a loss of 18 cents. Roku also reported quarterly sales of $734.00 million which beat the analyst consensus estimate of $718.31 million by 2.2%. This sales figure represents a 28% increase over sales of $574.18 million in the same period last year.

Roku added some 1.1 million active accounts in the first quarter for 61.3 million in total.

  • MoffettNathanson analyst Michael Nathanson upgraded Roku from Sell to Neutral.
  • Deutsche Bank analyst Jeffrey Rand maintained Roku with a Buy and lowered the price target from $210 to $150.
  • Morgan Stanley analyst Benjamin Swinburne maintained Roku with an Underweight and lowered the price target from $115 to $105.
  • Wells Fargo analyst Steven Cahall maintained Roku with an Equal-Weight and lowered the price target from $125 to $115.

See Also: Why Amazon Shares Are Falling Today

Roku is a leading streaming platform in the United States.

According to data from Benzinga Pro, Roku has a 52-week high of $490.76 and a 52-week low of $83.72.