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A Wall Street brokerage company is removed from the streaming video platform Roku (ROKU) after the recent rise of the title. The action Roku fell on news on Thursday.
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Michael Morris, an analyst at Guggenheim Securities, downgraded Roku's stock title to neutral and reduced his price target from 77 to 72. The Roku stock fell 6% to 64.49 today. hui.
At the end of December, Roku's shares reached their lowest level in 52 weeks, at 26:30. It then rebounded to a recent high of 74.35 on March 11th.
"Roku's valuation now more accurately reflects its opportunities for streaming video," he said in a note to customers.
Roku is "well positioned" for video growth trends continuously, but faces increasing competition in the video-on-demand market with advertising support, Morris said. The advertising-funded Roku channel will compete more and more with Amazon.com (AMZN) and Viacom (VIAB), he noted.
Target price increase for Netflix, Facebook, Google, Twitter
In the same report, he raised his price target on Netflix (NFLX) from 420 to 420. It has retained its purchase rating on the Internet TV network. Shares of Netflix plunged 0.5% to 367.88 on Thursday.
Morris has also improved Facebook (FB) bought in neutral and raised its price target to 200 instead of 175. Facebook's shares rose 1.4% to 176.02.
"We are more optimistic about the level of investor confidence in regulatory and privacy risks on Facebook," said Morris.
In addition, he maintained his purchase rating on Google Parent. Alphabet (GOOGL) and raised its price target from 1,300 to 1,475. The alphabet soared 0.7% to 1,219.45.
Plus, he kept his odds of buying on Twitter (TWTR) and increased its price target from 33 to 41 to 41%.
Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories about consumer technology, software and semiconductor companies.
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