What's Going On With Roku Stock Ahead Of Earnings?
Portfolio Pulse from Erica Kollmann
Roku, Inc. (NASDAQ:ROKU) shares are trading higher ahead of its earnings report on Thursday, following a dip last week in sympathy with Netflix's (NASDAQ:NFLX) post-earnings drop. Wedbush and Benchmark analysts have recently updated their price targets and ratings for Roku, with expectations for the company to report a loss of 61 cents per share and revenue of $848.616 million for the quarter. Wall Street holds an average 12-month price target of $90.60 for Roku, with a mix of positive and negative analyst ratings.
April 23, 2024 | 4:08 pm
News sentiment analysis
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NEGATIVE IMPACT
Netflix's post-earnings drop last week influenced Roku's stock, highlighting the interconnectedness of the streaming sector.
Roku's stock dip last week was in sympathy with Netflix's decline, indicating that negative news from one major player in the streaming industry can impact others. This interconnectedness suggests that while Roku is preparing for its own earnings report, investor sentiment can be significantly swayed by the performance and outlook of closely related companies.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Roku's stock is trading higher ahead of its earnings report, with recent analyst adjustments and expectations set for Q1 financial results.
The anticipation of Roku's earnings report and recent analyst adjustments, including a mix of positive and negative ratings, suggest a heightened investor interest and potential for stock movement. The positive trading ahead of the earnings and the adjustments in price targets by analysts like Wedbush and Benchmark indicate a bullish sentiment, albeit with caution due to the expected loss.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100