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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