Why Roku Was a Resilient Rock Star Stock Today
You can't keep a good stock down, a dynamic that seemed to prop up the value of Roku (NASDAQ: ROKU) stock on Monday. In late afternoon trading the company was treading water with a 0.6% share price gain, in contrast to the slump of the S&P 500 index. This, despite a recommendation downgrade from an analyst tracking the shares.
The man doing the downgrading was Pivotal Research's Jeffrey Wlodarczak, who changed his recommendation on Roku stock from hold to sell, at a $60 per-share price target. The analyst described both the company's recently reported second-quarter earnings and guidance for its current third quarter as "awful."
Wlodarczak is also concerned that Roku is opening its wallet at a time when many consumers will be closing theirs.
Source Fool.com
