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Roku’s Price Target Slashed at Susquehanna
Apr 29, 2024 1:09 PM - Davit Kirakosyan
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Susquehanna analysts revised their price target on Roku (NASDAQ:ROKU) downwards to $80 from a previous $110, yet maintained a Positive rating on the stock. The analysts noted that Roku delivered a strong first quarter, surpassing expectations in revenue and profitability.
The second quarter's outlook appears generally stable, though Roku faces tougher comparisons and accounting changes that may affect platform revenue growth. However, an improvement in platform growth is anticipated in the second half of the year. The expected increase in seasonal spending could moderate EBITDA due to higher sales and marketing expenses in the devices segment.
Despite these challenges, the analysts believe that Roku is making the right strategic moves and stands as one of the best-positioned companies to leverage the expanding connected TV (CTV) advertising market.
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