Trading Strategies for Roku Stock Before And After Q3 Earnings
Portfolio Pulse from Melanie Schaffer
Roku, Inc (NASDAQ:ROKU) is set to release its Q3 financial results. Analysts estimate a loss of $2.08 per share on revenues of $853.23 million. MoffettNathanson analyst Michael Nathanson upgraded the stock from Sell to Neutral with a $55 price target. The AXS 2X Innovation ETF (NASDAQ:TARK), which aims to return 200% of the daily performance of ARK Innovation ETF (NYSE:ARKK) that holds a 7.8% weighting of Roku, could be an option for investors looking for diversification.
November 01, 2023 | 7:03 pm
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NEUTRAL IMPACT
ARK Innovation ETF (ARKK) holds a 7.8% weighting of Roku. The performance of ARKK could be influenced by Roku's earnings release.
The performance of ARKK could be influenced by Roku's earnings release due to its 7.8% weighting of Roku. However, the ETF's performance is also influenced by other factors.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
NEUTRAL IMPACT
Roku is set to release its Q3 results. The stock has been upgraded from Sell to Neutral. The stock is currently in a bear cycle.
The upcoming earnings release and the recent upgrade by MoffettNathanson analyst could impact the stock's performance. However, the stock is currently in a bear cycle, which could limit any potential gains.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
The AXS 2X Innovation ETF (TARK) could be an option for investors looking for diversification. The ETF aims to return 200% of the daily performance of ARK Innovation ETF (ARKK) that holds a 7.8% weighting of Roku.
The performance of TARK could be influenced by Roku's earnings release due to its connection with ARKK, which holds a 7.8% weighting of Roku. However, the ETF's performance is also influenced by other factors.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60