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Fly News Breaks for February 14, 2020
Feb 14, 2020 | 08:40 EDT
Morgan Stanley analyst Benjamin Swinburne said Roku (ROKU) delivered "impressive account growth," but he said Platform revenues were below his and consensus expectations in Q4 despite strong Disney+ (DIS) subscriber adoption and he contends that decelerating Platform ARPU limits upside. Guidance for Q1 implies organic Platform revenue growth excluding Dataxu further decelerates, said Swinburne, who believes Roku's current valuation bakes in expectations for continued upside surprises. He maintains an Underweight rating and $110 price target on Roku shares, which are up $12.54, or 9%, to $151.59 in pre-market trading.
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