ROKU Stock Summary and Trading Ideas (Roku - Class A | NASDAQ:ROKU)

Roku is the leading streaming platform in the U.S. by hours watched with 87.4 billion hours of content streamed in 2022. The firm's namesake operating system is used not only in Roku's own hardware but in cobranded TVs and soundbars from manufacturers like TCL, Onn, and Hisense. Roku generates revenue from advertising, distribution fees, hardware sales, OS licensing, and subscription sales.

Roku - Class A trades on the NASDAQ stock market under the symbol ROKU.

As of April 17, 2024, ROKU stock price declined to $57.59 with 2,735,974 million shares trading.

ROKU has a beta of 3.35, meaning it tends to be more sensitive to market movements. ROKU has a correlation of 0.31 to the broad based SPY ETF.

ROKU has a market cap of $8.27 billion. This is considered a Mid Cap stock.

Last quarter Roku - Class A reported $984 million in Revenue and -$.55 earnings per share. This beat revenue expectation by $18 million and met earnings estimates .

In the last 3 years, ROKU stock traded as high as $490.76 and as low as $38.26.

The top ETF exchange traded funds that ROKU belongs to (by Net Assets): ARKK, VTI, VB, VXF, ARKW.

ROKU has underperformed the market in the last year with a price return of -6.7% while the SPY ETF gained +23.0%. ROKU has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -32.1% and -8.4%, respectively, while the SPY returned +5.7% and -3.5%, respectively.

ROKU support price is $56.51 and resistance is $59.13 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ROKU stock will trade within this expected range on the day.