Roku Gets Price Target Cuts By Analysts Following Q1 Results

Roku, Inc. 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.

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