Roku resumes slump after dim outlook

Vizio Holding

20/02/2024 18:54

** Roku Inc's  ROKU.O  shares down 6.7% to about 4-mth low
$67.16, adding to record drop in prior session, following
streaming-device provider's weak outlook
    ** ROKU on Fri tumbled 23.8%, stock's biggest ever daily pct
decline, after co forecasted steeper-than-expected Q1 loss of 90
cents/sh, amid stiff competition from heavyweights such as
Netflix  NFLX.O  and Amazon.com  AMZN.O  for advertising dollars
    ** Also weighing on ROKU on Tues is Walmart  WMT.N 
announcing $2.3 bln deal to acquire smart-TV maker Vizio
 VZIO.N 
    ** With move on the session, ROKU off ~27% YTD and nearly
40% off its 52-week high hit in mid Dec
    ** Current avg rating on ROKU among 33 analysts is "hold"
and recommendation breakdown is 10 "buy" or "strong buy", 20
"hold", 3 "sell" or "strong sell", per LSEG
    ** Median PT of $85 unchanged over the past two months

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))