A Lot to Like in Roku's (ROKU) Quarter - Needham & Company
Needham & Company analsyt Laura Martin reiterated a Buy rating and $60 price target on Roku Inc. (NASDAQ: ROKU) following another 'beat and raise' quarter.
Martin views "all system go" for ROKU. What she liked the most was
a) raised FY18 guidance;
b) another quarter of accelerating y/y revenue growth (57% from 36% in Q1),
c) positive EBITDA (which she said was a big surprise)
d) 22.0mm active users with strong 2Q18 user add (1.2mm added in 2Q18, up from 0.9 added in 2Q17)
e) rising engagement as hours streamed rose 57% y/y in 2Q18 (faster than 1Q18’s 55% y/y growth); and
f) record ARPU of $16.60 (up 48% y/y).
For an analyst ratings summary and ratings history on Roku Inc. click here. For more ratings news on Roku Inc. click here.
Shares of Roku Inc. closed at $52.61 yesterday.