- Two analysts slashed price targets on Roku Inc (NASDAQ:ROKU) in quick succession.
- MoffettNathanson analyst Michael Nathanson downgraded to Sell from Neutral with a price target of $220, down from $330, implying a 20.4% downside.
- “Simply put, we think our and the Street’s long-term revenue and earnings estimates are just too damn high.”
- Roku will need to monetize an “absurdly high portion of long-tail” ad-based video on demand impressions to come even close to Street estimates, says the analyst.
- Nathanson believes this will be a challenge given the rising competition and sees signs of slowing revenue growth at Roku.
- Truist analyst Matthew Thornton lowered the PT to $360 from $390, implying a 30.2% upside, and reiterated a Buy after the company’s Q3 report.
- The analyst said the new price target reflects the short-term supply chain headwind to ad revenue.
- Price Action: ROKU shares traded lower by 3.60% at $266.51 in the premarket session on the last check Wednesday.
American Water Works, AmerisourceBergen, Danaher And This Aircraft Manufacturing Giant Are CNBC’s ‘Final Trades’
On CNBC’s "Halftime Report Final Trades," Karen Firestone of Aureus Asset Management said American Water Works Company, Inc. (NYSE: AWK) shares took a hit when interest rate
