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