Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
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 $40, The Roku Channel Growth
- Keybanc analyst Justin Patterson maintained Roku with an Overweight rating and lowered the price target from $460 to $430.
- 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.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.