Friday’s pre-market traders will watch stocks that moved by up to 20% in after-hours markets.
Roku (ROKU) fell by as much as 17% last night after posting 55 cents per share in losses. Revenue increased by 13.5% Y/Y to $984.4 million. For FY 2023, Roku reported 80 million active accounts, up by 10 million Y/Y. Streaming hours increased by 18.6 billion hours Y/Y to 106 billion. However, ROKU disappointed investors when ARPU – average revenue per user – fell by 4% Y/Y to $39.92.
The Trade Desk (TTD) is today’s star. It gained 19.5% in post-market trade after reporting revenue growing by 23.5% Y/Y to $606 million. The firm achieved strong customer retention of over 95% in 2023. For Q1/24, TTD expects revenue of at least $478 million. Adjusted EBITDA will top $130 million.
In the software sector, Toast (TOST) should gain at least 6% today. The cloud-based restaurant management software supplier will cut 550 jobs to lower costs and achieve better efficiencies. It reported a 7-cent EPS loss on sales of $1.02 billion. Investors liked Toast’s annualized run-rate of $1.2 billion growing by 35% Y/Y.
Among the stocks to avoid today, SoundHound AI (SOUN) should pull back after rising by 66.74% on Feb. 15. Nvidia (NVDA) revealed a small holding in SOUN stock,
causing a short squeeze on 11.8% in short interest.
