Roku Inc (NASDAQ: ROKU) is trading lower Thursday after the company announced worse-than-expected third-quarter revenue results.
Roku reported quarterly adjusted EBITDA of $130.1 million, up from $56.2 million year-over-year. The company reported quarterly revenue of $680 million, which came in below the estimate of $683.67 million.
Roku expects fourth-quarter net sales of $893 million versus the estimate of $944.43 million.
“As the global shift to TV streaming continues, our performance demonstrates the strength of our business fundamentals and the momentum of our platform monetization. We are making significant progress with traditional TV advertisers, while also expanding our total addressable market to digital-first advertisers,” Roku said in a letter to shareholders.
See Also: Roku Q3 Earnings Highlights: Revenue Miss, ARPU Passes , The Roku Channel Growth
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Keybanc analyst Justin Patterson maintained Roku with an Overweight rating and lowered the price target from $460 to $430.
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Pivotal Research analyst Jeffrey Wlodarczak maintained Roku with a Hold rating and lowered the price target from $410 to $350.
ROKU Price Action: Roku has traded as high as $490.76 and as low as $196.52 over a 52-week period.
The stock was down 7.39% at $290.49 at time of publication.
Photo: Mike Mozart from Flickr.
Latest Ratings for ROKU
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Nov 2021 |
Morgan Stanley |
Maintains |
Underweight |
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Nov 2021 |
Rosenblatt |
Maintains |
Buy |
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Nov 2021 |
Pivotal Research |
Maintains |
Hold |
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