ROKU - Roku, Inc.

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
139.74
+0.17 (+0.12%)
As of 11:14AM EST. Market open.
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Previous Close139.57
Open138.30
Bid139.22 x 1200
Ask139.29 x 800
Day's Range138.13 - 142.83
52 Week Range26.30 - 176.55
Volume5880991
Avg. Volume20,986,115
Market Cap17B
Beta (5Y Monthly)1.67
PE Ratio (TTM)N/A
EPS (TTM)-0.33
Earnings DateFeb. 19, 2020 - Feb. 24, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est146.75
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  • Business Wire

    Roku Tops Off Year of Entertainment with Unlocked Premium Content for Second Annual Stream-a-thon

    Roku, Inc. (Nasdaq: ROKU) today announced its second annual Stream-a-thon, a week during the holiday season dedicated to delivering a collection of top shows and premium TV to Roku® users for free. Viewers can enjoy a selection of unlocked premium content for free with no subscription needed on The Roku Channel, the home for both free and premium entertainment on the Roku platform. Starting today, Roku is expanding its Premium Subscriptions offering on The Roku Channel with a new HBO + Cinemax Value Pack, which is available to customers going forward for $20.99.

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  • Roku’s Biggest Bull Sees It as the YouTube of TV and Film
    Bloomberg

    Roku’s Biggest Bull Sees It as the YouTube of TV and Film

    (Bloomberg) -- Roku Inc.’s price target was raised to a Street-high view of $200 from $150 at Needham, which called the company “a key beneficiary” of the shift toward streaming video.The higher target comes just one day after Morgan Stanley downgraded the stock to the equivalent of a sell, warning about growth and valuation following steep 2019 gains. The downgrade sparked a 15% decline in Monday’s session, but Needham urged investors to “buy on dips.”Shares of the company gained 4.5% in early trading on Tuesday. While the stock has been a massive outperformer thus far this year -- having risen more than 340% -- recent moves have been volatile. It is up nearly 40% from a September low, but down 15% from a peak hit last week.The 2019 gains have been largely driven by the massive growth in the streaming-video space, which Roku has capitalized on by being a neutral platform for content companies. Needham, which reiterated its buy rating on the company, expects this trend to continue next year.“In 2020, Roku’s key upside valuation driver will be accelerating subscription SVOD revenues, which lowers investment risk,” analyst Laura Martin wrote to clients, referring to streaming video on demand. She noted the growing competition in the streaming-video space; in addition to Netflix, Walt Disney and Apple, there are soon-to-be-released services from Comcast and AT&T.Just as YouTube is “the winning aggregator of user-generated videos,” she wrote, “Roku will be the winning aggregator of TV and films.”(Updates stock to market open in third paragraph.)To contact the reporter on this story: Ryan Vlastelica in New York at rvlastelica1@bloomberg.netTo contact the editors responsible for this story: Catherine Larkin at clarkin4@bloomberg.net, Steven Fromm, Janet FreundFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Why on Earth Is Roku’s Stock So Ridiculously Expensive?
    Bloomberg

    Why on Earth Is Roku’s Stock So Ridiculously Expensive?

    (Bloomberg Opinion) -- You’ve just witnessed the semi-annual Roku Inc. sell-off. It’s the time of year when investors come to the abrupt realization that they’ve probably paid too much to own shares of the high-flying streaming-TV company, as if valuing anything at 300 times Ebitda were ever rational. Here’s how it usually goes down: An equity analyst downgrades Roku, sending the stock into a tailspin, which leaves onlookers wondering what terribly bad thing occurred at the company — or what a Roku even is. This time, that analyst was Benjamin Swinburne of Morgan Stanley. He cut his rating to the equivalent of a “sell,” and oh, did the market listen: Roku plunged 15% on Monday for one of the Nasdaq’s worst post-Thanksgiving showings.But what changed the last few days between carving the turkey and putting up the Christmas tree? Nothing, really. In fact, Roku’s stock price is still up 344% for the year, and it’s still the most popular streaming-TV device. As of last week, the company was valued at a whopping 322 times analysts’ forward 12-month Ebitda forecasts. Swinburne’s report explained that while Roku’s strategy is sound, its sky-high valuation is unjustified given that revenue growth is projected to slow.When several other analysts gave a similar word of caution in April, it sparked a sell-off then, too. But just as I noted at the time, it’s not that Roku’s business prospects were suddenly and dramatically altered; it’s more a function of an overheated stock price. If you think a perpetual cash-burner like Netflix Inc. is pricey, keep in mind that Roku’s own Ebitda multiple is still almost 10 times higher, even after Monday’s drop:Part of the problem is that in the bewildering market for streaming-TV services, it’s difficult to grasp what Roku does and to hedge what its role will be in the streaming wars. And certainly the $1.7 billion of short interest in Roku shares (per S3 Partners data) adds a degree of pressure to its trading price.Roku is fighting the giants of the streaming world on two fronts. It sells hardware and provides software that’s pre-installed on certain television sets, all of which allow users to access their video-app subscriptions, such as Netflix, Disney+ and CBS All Access in one place. Roku is also competing for advertising dollars through the ad-supported Roku Channel, which is less of a channel in the traditional cable-TV sense and more of a hodgepodge of free movies and shows for cord-cutters looking to save money. Roku devices accounted for 44% of all connected-TV viewing hours in the latest quarter, while Amazon.com Inc.’s Fire TV is in a distant second place with a 20% share, according to Conviva, an industry analytics firm. That’s a strong lead, but competition will intensify. The next frontier in streaming is offering bundles that help solve the consumer pain point of needing to pay for multiple apps individually. Eventually, users will gravitate to platforms with this capability. Comcast Corp.’s Flex platform, I argued last month, may be a step toward bundling streaming services in the way the cable giant packages traditional TV channels and its other services. Apple Inc.’s Apple TV Channels already allows users to subscribe to select apps on an a-la-carte basis through their Apple IDs. But the warnings about the growth outlook require a bit of context: We’re talking about a business that increased revenue by 50% in the third quarter and is projected to do so again this quarter. A slowdown from that level would still be a dream for many corporations its size. “Roku reported a strong quarter for just about any company but Roku,” is how Alan Gould, an analyst for Loop Capital Markets, put it in a note to clients last month. Roku also added 1.7 million active accounts — that’s almost the same number of people who quit traditional pay-TV services such as Comcast’s Xfinity, AT&T Inc.’s DirecTV and Charter Communications Inc.’s Spectrum in the same period. And if Roku’s $16 billion market value shrank enough, an acquirer might just swoop in for the company and all those users and TV-manufacturer relationships.So things aren’t quite as bad for Roku as one might infer from Monday’s plunge. They really aren’t bad at all. But Roku’s the small fry in a land of giants, and even if it doesn’t get trampled, its lavish stock price will keep taking hits.To contact the author of this story: Tara Lachapelle at tlachapelle@bloomberg.netTo contact the editor responsible for this story: Beth Williams at bewilliams@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering the business of entertainment and telecommunications, as well as broader deals. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Roku Plunges After Morgan Stanley Warning About Growth Risks
    Bloomberg

    Roku Plunges After Morgan Stanley Warning About Growth Risks

    (Bloomberg) -- Roku Inc. slumped Monday after Morgan Stanley cut its rating on the stock and warned clients that revenue and gross profit growth may “slow meaningfully” next year.Shares of the streaming-video platform fell as much as 17% in New York, their biggest decline since Nov. 7. The stock has soared more than 350% this year amid what Morgan Stanley analyst Benjamin Swinburne referred to as “exuberance over all things streaming.” He downgraded the stock to underweight from equal-weight, becoming just the third analyst with a sell-equivalent rating on the shares, among 18 tracked by Bloomberg.With Roku’s valuation now exceeding both digital media players and even high-growth software-as-a-service companies, Swinburne sees the risk profile skewed to the downside. It will be “increasingly difficult to sustain the current premium,” especially as growth moderates, he said in a research note.To contact the reporter on this story: Ryan Vlastelica in New York at rvlastelica1@bloomberg.netTo contact the editors responsible for this story: Catherine Larkin at clarkin4@bloomberg.net, Steven FrommFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Investing.com

    StockBeat: Roku Slumps as Morgan Stanley Sounds Alarm on Valuation

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  • Roku Says It Won’t Be Long Before Streaming Revenue Eclipses TV
    Bloomberg

    Roku Says It Won’t Be Long Before Streaming Revenue Eclipses TV

    (Bloomberg) -- Streaming video has been one of the biggest growth stories of the past several years, but even with all the attention that has been paid to the space, the industry is nowhere near full maturity, according to an executive at streaming-platform Roku Inc.“In the long run, the total addressable market for streaming video is all TV money, period,” said Scott Rosenberg, a senior vice president and general manager of Roku’s platform business. Over-the-top (OTT) streaming “lets advertisers do things that they’ve gotten used to in digital but which hasn’t been possible on TV,” such as individually targeting consumers based on user-specific data.Rosenberg compared the industry, specifically streaming-related advertising, to the early days of smartphones, when usage far outpaced how much advertisers focused on them. He cited a study from Magna that suggested 29% of TV viewing was happening outside the traditional model, although only 3% of TV ad budgets were being allocated to streaming services.That imbalance will correct “in a pretty accelerated fashion over the next two or three years,” he said in a phone interview. “Marketers are starting to move their money, and once it begins to happen apace, I think we’ll see a significant outflow.”It will likely take a few years for streaming ad revenue to surpass linear TV, he said, though the trend is accelerating. According to Bloomberg Intelligence, OTT ad revenue is expected to grow to $9 billion by 2023, compared with $4 billion in 2019. The TV advertising market is estimated at around $70 billion.While much of the focus on the sector has been on the fight for audiences between content providers -- both Apple and Walt Disney have recently launched new services, with others on the way, including HBO Max next spring -- Roku has benefited by being a portal to these services, rather than a competitor. Last month, Apple announced that its TV+ app would be available on Roku’s platform, news that was notable as the iPhone maker offers its own streaming hardware.The agreement “validates [Roku’s] dominant role as an aggregator,” and “the content-agnostic nature of its platform will allow more deals with streaming services,” Bloomberg Intelligence wrote.Investors have rewarded Roku’s position within the ecosystem. Shares are up more than 400% thus far this year, making it the biggest gainer in the Russell 1000 index by far. Netflix Inc. is up about 10% thus far in 2019, while Disney has risen 32%.Earlier this month, RBC Capital Markets wrote that Roku was “one of the best plays on ad-supported OTT, with the company being one of the best positioned to take share of the very large, underpenetrated” $70 billion TV advertising spending opportunityRoku posted its sixth straight advance on Friday and has risen more than 30% over that stretch. The gains have coincided with the launch of Disney+, as well as bullish commentary from Bank of America, which on Friday raised its price target and wrote that Roku’s Black Friday discounts are setting it up for “outsized” account growth in the fourth quarter.While the stock struggled in September because of concerns about competition for streaming hardware, Roku’s platform business accounts for a growing percentage of its overall revenue. According to data compiled by Bloomberg, the division comprised nearly 70% of the company’s third-quarter revenue, while the rest came from its players business. Over all of 2018, platforms accounted for just 56.1% of revenue.Roku’s Rosenberg told Bloomberg that the company continued to view linear TV as its biggest competition for near-term growth. “We’re trying to take OTT advertising from a $5 billion market to a market that’s $20, $30, or even $50 billion. However, cord-cutters are leaving paid-TV in droves, and user engagement is on our side. When I started here, there were no networks doing streaming, but now Disney is all-in on a major service. There’s been a series of tipping points for the industry.”He added that he was planning to spend the weekend watching “The Mandalorian,” a new series set in the “Star Wars” universe, now streaming on Disney+.To contact the reporter on this story: Ryan Vlastelica in New York at rvlastelica1@bloomberg.netTo contact the editors responsible for this story: Catherine Larkin at clarkin4@bloomberg.net, Tatiana DarieFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

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