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Roku Gets Price Target Cuts By Analysts Following Q1 Results

Published 27/04/2023, 12:19
© Reuters.  Roku Gets Price Target Cuts By Analysts Following Q1 Results

Benzinga - Roku, Inc. (NASDAQ: ROKU) reported better-than-expected revenue for its first quarter and issued strong Q2 sales guidance.

Roku reported a first-quarter earnings loss of $1.38 per share, missing the Street estimate of a $1.37 per share loss on revenues of $741 million, which also came in below the $801.69-million consensus estimate.

Roku shares rose 1.2% to $57.25 in pre-market trading.

These analysts made changes to their price targets on Roku following earnings announcement.

  • Pivotal Research cut the price target on Roku from $55 to $53. Pivotal Research maintained a Sell rating.
  • Wells Fargo slashed the price target on Roku from $67 to $63. Wells Fargo analyst Steven Cahall maintained an Equal-Weight rating
  • Rosenblatt lowered the Roku price target from $64 to $61. Rosenblatt analyst Barton Crockett maintained a Neutral rating on the stock.
  • Needham analyst Laura Martin, meanwhile, reiterated Roku with a Buy and maintained an $80 price target.

Read More: Meta Platforms, Amazon And 3 Stocks To Watch Heading Into Thursday

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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