ROKU Stock Price Dropped More Than 2% in its Weekly Analysis

Roku Inc (NASDAQ: ROKU) stock lost nearly $1.28 this week, and closed at $52.73 in its May 12th, Friday trading session. According to its weekly price analysis, Roku stock traded in between the range of $55.01 to $53.73, while the drop was almost 2.33%. The monthly price analysis also showed a bearish trend in the stock price, but its year-to-date (YTD) price showed more than 30% of growth.

It must be noted that, late in April Roku Inc reported its Q1 2023 earnings and revenue report. According to which, the total revenue of ROKU for Q1 2023 is $740.99 Million, and it’s 14.54% lower compared to the previous quarter. The net income of Q1 23 is $-193.60 Million.

Also, ROKU EPS for Q1 2023 are $-1.38 whereas the estimation was $-1.47 which accounts for 5.86% surprise. Its revenue for the same period amounts to $740.99 Million despite the estimated figure of $708.12 Million. Notably, the greatest contribution to the revenue figure was made by the United States — last year it brought Roku, Inc $3.13 Billion, and the year before that — $2.76 Billion.

The estimated earnings for the next quarter are $-1.27, and revenue is expected to reach $773.79 Million. 

ROKU Stock Price Analysis

According to Google Finance, in its Friday opening session, ROKU stock’s market volume was almost 26K. Meanwhile, when the stock was in the closing session the volume rose and reached 1.2 Million. This clearly shows that in its Friday trading session, active bears in the market showed its dominance and dropped down the stock price.

According to the data sourced from Tradingview, ROKU stock fell from its 20-day EMA that was at $57.02. Due to the bearish price performance, the RSI of stock also started following the bearish trend. Meanwhile, this price drop was not only on a weekly basis but also on a monthly basis. In one month, the ROKU stock price dropped almost 18%.

On the other hand, the YTD price analysis is opposing monthly and weekly price decline. ROKU stock price soared nearly 30% in its YTD price analysis. Furthermore, the analysts have set their price target for ROKU stock at $69.40, which is almost 29% up from its recent closing price. Meanwhile, its 1-year price forecast has a maximum estimate of $90.00 and minimum estimate of $41.00.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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