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Roku Stock Down 22% Despite ‘Almost Perfect Quarter’: Analyst Expects Stock To Be ‘Range-Bound Until Platform Growth Returns’

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Roku Inc (NASDAQ:ROKU) stock was trading lower by over 22% on Feb. 16 following a cautionary statement from the smart TV operating system company.

Roku’s fourth-quarter earnings highlighted that the upcoming year is expected to be “challenging” due to a deceleration in spending within the entertainment industry.

The company did, however, report a beat on its fourth-quarter financial results.

For details on fourth-quarter results, read: Roku Q4 Earnings Highlights: Revenue Beat, EPS Beat, Q1 Guidance, 80 Million Active Accounts

The results came amid an exciting earnings season. Here are some key analyst takeaways from the release.

  • Macquarie Equity Research analyst Tim Nollen maintained his Outperform rating while reducing the price target from $93 to $88.
  • Wedbush analyst Alicia Reese maintained Outperform rating and her 12-month price target as $120.
  • Oppenheimer analyst Jason Helfstein downgraded the stock to Perform from Outperform, while removing his price target of $100 on the stock.
  • Piper Sandler analyst Matt Farrell, CFA reiterated a Neutral rating and price target of $81.

Check out other analyst stock ratings.

Macquarie Equity Research on Roku

Roku “toggles the profitability lever” and reported strong …

Full story available on Benzinga.com

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