Roku Shares Jump After Q3 Delivers Many Positives: 7 Analysts Tune Into Into Print, Guide
Portfolio Pulse from Priya Nigam
Roku Inc's shares climbed after the company reported strong Q3 results. Analysts from BofA Securities, Macquarie Equity Research, Oppenheimer, Needham, Wedbush, Stephens, and William Blair all maintained positive ratings on the stock, with some raising their price targets. Roku's platform revenues grew 18% YoY, driven by strength in content distribution and video advertising. The company's active accounts increased by 2.3 million to 75.8 million, and ARPU rose 1% sequentially.
November 02, 2023 | 3:54 pm
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POSITIVE IMPACT
Roku's strong Q3 results and positive analyst ratings could drive the stock price up in the short term.
Roku's Q3 results exceeded expectations, with platform revenues growing 18% YoY and active accounts increasing to 75.8 million. This positive performance, coupled with the maintained and increased price targets from several analysts, could lead to an increase in Roku's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100