TARK - Trading Strategies for Roku Stock Before And After Q3 Earnings | Benzinga
Roku, Inc (NASDAQ: ROKU) was trading slightly lower Wednesday, forming an inside bar pattern on lower-than-average volume. Roku is set to print its third-quarter financial results after the market closes.
When Roku printed its second-quarter earnings beat on July 27, the stock surged a whopping 31.41% and an additional 7.5% over the two trading days that followed before topping out at $98.44 and entering a downtrend.
For the second quarter, Roku reported revenue of $8.472 million, which beat the $773.43-million consensus estimate. The company reported negative earnings per share of 76 cents, beating a consensus estimate for a loss of $1.27.
For the third quarter, analysts, on average, estimate Roku will report a loss of $2.08 per share on revenues of $853.23 million.
Ahead of the event, MoffettNathanson analyst Michael Nathanson upgraded the stock from Sell to Neutral and announced a $55 price target. Read More Here...
From a technical analysis perspective, Roku’s stock looks neutral heading into the event, trading in ...