Roku Stock Dives, But Player Sales Up


Roku gapped open sharply lower Thursday morning and is now down 10.49 at $40.61 on above average volume. Roku's stock plummeted to $39.90 in after-market trading, a loss of $11.20 from the day's closing price of $51.50. The company has a debt-to-equity ratio of -0.09, a current ratio of 1.36 and a quick ratio of 1.11.

Last time Roku reported earnings, shares jumped 57 percent.

Roku's shares plunged almost 22% in after-hours trading Wednesday after the company issued a forecast losses for the coming quarter.

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X The Los Gatos, Calif. -based company had "a milestone year, but (faced) mile-high expectations", RBC Capital Markets analyst Mark Mahaney said in a report. Revenue from players was down 7% to $102.8 million in the fourth quarter, which was down from $110.0 million the year before. Vetr downgraded Roku from a "strong-buy" rating to a "buy" rating and set a $43.26 target price on the a report on Monday, November 27th. BidaskClub raised Roku from a "hold" rating to a "buy" rating in a report on Saturday. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company's stock. The company had revenue of $188.30 million for the quarter, compared to the consensus estimate of $182.54 million.

Several hedge funds and other institutional investors have recently modified their holdings of ROKU. While ad revenue should continue to increase, it may not gain as much as anticipated with the seasonal drop in Roku player sales. MYDA Advisors LLC acquired a new position in Roku in the fourth quarter worth $207,000. OxFORD Asset Management LLP purchased a new position in Roku in the third quarter valued at $12,899,000. Finally, Kessler Investment Group LLC bought a new position in shares of Roku in the 4th quarter valued at about $254,000.

COPYRIGHT VIOLATION WARNING: This story was published by Week Herald and is the sole property of of Week Herald. If you are reading this report on another site, it was illegally copied and republished in violation of USA & global copyright legislation. And the company has put more emphasis on attracting revenue through advertising and licensing its streaming software technology platform to makers of smart TVs and other devices. It claims to connect users to the streaming content they love, enable content publishers to build and monetize large audiences, and provide advertisers with unique capabilities to engage consumers.