• Roku's Earnings Beat and Analyst Upgrade Signal Potential Upside

  • Nov 11 2024
  • Length: 2 mins
  • Podcast

Roku's Earnings Beat and Analyst Upgrade Signal Potential Upside

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  • Summary

  • **Roku (ROKU) Analysis**

    1. **Current Price and Intraday Trading Range**: The current price of ROKU is $73.82, with a 2.49% increase in the past 24 hours[1][2].

    2. **Pre-market and After-hours Movement**: There is no specific information on pre-market and after-hours movement in the provided sources.

    3. **Trading Volume vs Average**: The trading volume is 4.23M, but there is no comparison to the average volume in the provided sources[4].

    4. **Recent News or Announcements**: There have been no significant news or announcements in the last 24 hours. However, recent updates include Roku's third-quarter 2024 financial results, which reported $1 billion in revenue and -$0.06 earnings per share, beating expectations[3][5].

    5. **Major Analyst Updates or Price Target Changes**: Piper Sandler raised Roku's price target to $75 from $60[5].

    6. **Options Flow Activity**: There is no specific information on options flow activity in the provided sources. However, a straddle strategy was mentioned, indicating high volatility expectations around earnings announcements[1].

    7. **Related Semiconductor/AI Sector News**: There is no direct mention of related sector news affecting Roku in the provided sources.

    8. **Key Technical Indicators for Day Trading**:
    - **Moving Averages**: The stock price is above its 8-day, 50-day, and 200-day simple moving averages, indicating a buy signal[4].
    - **Exponential Moving Averages**: The stock price is above its 8-day, 20-day, 50-day, and 200-day exponential moving averages, suggesting a buy[4].
    - **Bollinger Bands**: The stock is within the Bollinger Bands (25) and (100), indicating a buy signal[4].
    - **MACD and RSI**: The MACD suggests a sell, while the RSI indicates the stock is overbought[4].

    **Market Sentiment**: The overall sentiment is bullish, with an analyst consensus of "Moderate Buy" and a price target of $79.53, indicating a 1.22% upside[5]. Blogger sentiment is also bullish at 82%, though crowd wisdom is very negative in the last 7 days[5].
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