What's Going On With Roku Stock Ahead Of Earnings?

Roku, Inc. ROKU shares are trading higher Tuesday ahead of its earnings report on Thursday. 

What To Know: 

Roku shares dipped last week in sympathy with Netflix, Inc. NFLX which fell after it reportedfirst-quarter results and announced it will stop releasing subscription figures each quarter. 

Last Friday, Wedbush analyst Michael Pachter maintained an Outperform rating on Roku, but lowered the price target from $120 to $80. Benchmark reiterated its Buy rating and $115 price target on the stock.

Roku is set to report its first-quarter financial results after the market close on Thursday and will host a conference call to discuss the results at 5:00 p.m. the same day. According to estimates from Benzinga Pro, analysts expect the company to report losses of 61 cents per share and quarterly revenue of $848.616 million. 

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Will ROKU Stock Go Up?

When trying to assess whether or not Roku will trade higher from current levels, it's a good idea to take a look at analyst forecasts.

Wall Street analysts have an average 12-month price target of $90.60 on Roku. The Street high target is currently at $120 and the Street low target is $45. Of all the analysts covering Roku, 7 have positive ratings, no one has neutral ratings and 3 have negative ratings.

In the last month, 4 analysts have adjusted price targets. Here's a look at recent price target changes [Analyst Ratings]. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering Roku have performed in recent history.

Stocks don't move in a straight line. The average stock market return is approximately 10% per year. Roku is 5.72% up year-to-date. The average analyst price target suggests the stock could have further upside ahead.

For a broad overview of everything you need to know about Roku, visit here. If you want to go above and beyond, there's no better tool to help you do just that than Benzinga Pro. Start your free trial today.

ROKU Price Action: According to Benzinga Pro, Roku shares are up 3.53% at $60.58 at the time of publication Tuesday.

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