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Wells Fargo Remains a Buy on Roku (ROKU)

Tipranks - Tipranks - Thu Jun 18, 3:10AM CDT

Wells Fargo analyst Steven Cahall maintained a Buy rating on Roku on June 15 and set a price target of $167.00. The company’s shares closed yesterday at $140.90.

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According to TipRanks, Cahall is a 4-star analyst with an average return of 7.7% and a 55.19% success rate. Cahall covers the Communication Services sector, focusing on stocks such as Spotify, Fox, and Walt Disney.

In addition to Wells Fargo, Roku also received a Buy from Rosenblatt Securities’s Barton Crockett in a report issued yesterday. However, on the same day, Piper Sandler downgraded Roku (NASDAQ: ROKU) to a Hold.

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Based on Roku’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.25 billion and a net profit of $85.7 million. In comparison, last year the company earned a revenue of $1.02 billion and had a GAAP net loss of $27.43 million

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