Why Roku Stock Was Tumbling This Week
Investors seemed to be tuning out Roku (NASDAQ: ROKU) stock in recent trading days. According to data compiled by S&P Global Market Intelligence, they pushed the specialty consumer electronics company's shares down by just under 18% week to date as of Friday morning. An analyst's deep price target cut played quite a role in this.On Wednesday, Jason Bazinet of influential bank Citigroup made quite a significant change to his fair value assessment of Roku.Bazinet now believes the stock is worth $81 per share, representing a considerable reduction from his preceding level of $103. In making the cut the analyst maintained his neutral recommendation on Roku.Continue reading
Investors seemed to be tuning out Roku (NASDAQ: ROKU) stock in recent trading days. According to data compiled by S&P Global Market Intelligence, they pushed the specialty consumer electronics company's shares down by just under 18% week to date as of Friday morning. An analyst's deep price target cut played quite a role in this.
On Wednesday, Jason Bazinet of influential bank Citigroup made quite a significant change to his fair value assessment of Roku.
Bazinet now believes the stock is worth $81 per share, representing a considerable reduction from his preceding level of $103. In making the cut the analyst maintained his neutral recommendation on Roku.
