Roku Stock Could Fall 21%, According to 1 Wall Street Analyst
(NASDAQ: ROKU) stock slipped in February after Walmart announced an agreement to acquire Vizio and its SmartCast TV operating system. The move is widely seen as hurting Roku's ability to grow its connected TV platform over the long term.
Wells Fargo analysts weighed in by downgrading the stock from equal weight to underweight with a $51 near-term price target. The new price target is 21% below the stock's Feb. 26 closing price.
Roku has dominated the market for connected TV with an estimated 51% device market share in 2023's third quarter, according to Pixalate. But Walmart has been interested in media for a long time, and it believes Vizio's platform will accelerate its growth in the connected TV market. That spells potential market share gains against the industry leader, which explains why Roku stock is falling on the news.
Source Fool.com
Roku Stock
Our community is currently high on Roku with 29 Buy predictions and 7 Sell predictions.
As a result the target price of 93 € shows a very positive potential of 82.85% compared to the current price of 50.86 € for Roku.
