ROKU - Roku Shares Jump After Q3 Delivers Many Positives: 7 Analysts Tune Into Into Print Guide | Benzinga
Roku Inc (NASDAQ: ROKU) shares climbed in early trading on Thursday, after the company reported strong quarterly results.
The results came amid an exciting earnings season.
Here are some key analyst takeaways from the earnings release.
BofA Securities On Roku
Analyst Ruplu Bhattacharya maintained a Buy rating while raising the price target from $90 to $93.
"Roku delivered another strong quarter across key metrics” and with many positives, Bhattacharya said in a note. "Roku continues to benefit from a cyclical recovery in Advertising,” he added.
Roku’s Platform revenues grew 18% year-on-year, "driven by strength in both content distribution and video advertising,” the analyst further stated.
Macquarie Equity Research On Roku
Analyst Tim Nollen reiterated an Outperform rating and price target of $93.
"Roku reported an impressive 3Q beat, growing revenue 20% to $912m and turning positive on adj. EBITDA,” Nollen wrote in a note. "Fundamentals are strengthening,” he added.
Device sales accelerated and Roku’s active accounts increased by 2.3 million to hit 75.8 million, while ARPU rose 1% sequentially, the analyst stated.
Oppenheimer On Roku
Analyst Jason Helfstein reaffirmed an Outperform rating while cutting the price target from $110 to $100.
Roku’s opex reductions began to "roll through the model” and the new CFO is expected ...