Roku will report earnings on Thursday afternoon with its shares already up 27% over the past month, a sharp run that has pushed Roku stock to $112.04 and narrowed the gap with the average analyst target of $128.37.
The streaming TV platform company is heading into the results with momentum. Last quarter, Roku posted revenue of $1.39 billion, up 16.1% from a year earlier, and logged 37.9 billion service requests, a gain of 11.1%. It also delivered a solid beat on EBITDA estimates and gave next-quarter EBITDA guidance that came in above Wall Street expectations.
That record has helped frame this quarter's setup. Analysts expect revenue to rise 18% from a year earlier, a step up from the 15.8% growth Roku posted in the same quarter last year. The majority of analysts covering the company have reaffirmed their estimates over the last 30 days, suggesting few are preparing for a major reset before the report.
Roku's recent performance also stands out against a mixed peer backdrop. Netflix reported revenue growth of 16.2% and edged estimates by 0.5% in its latest quarter, while Coursera posted 9.1% revenue growth and met expectations. Consumer internet shares have risen 16.2% on average over the last month, but Roku's gain has outpaced that group as investors lean into the company's history of topping Wall Street's numbers.
The question now is whether Roku can keep that streak intact. With the stock already priced above where analysts think it should trade, a clean beat may not be enough to move the shares much further; anything short of another strong quarter could test how much of the rally is already baked in.