Roku (ROKU.US) shares dropped nearly 10% during today's session after MoffettNathanson downgraded the company's stock to Sell from Neutral with a price-target cut to $220 from $330. The firm noted the increasingly obvious signs of Roku's slowing revenue growth, saying it's time to reconsider their long-term assumptions. Analyst believes Roku will need to monetize an "absurdly high portion" of ad-based video on demand impressions to get close to meeting expectations. Additionally Truist Securities lowered its price target down to $360 from $390.
Roku (ROKU.US) stock launched today's session with a bearish price gap and broke below the lower limit of the triangle formation. If current sentiment prevails, downward move may accelerate towards support at $223.30 which coincides with 61.8% Fibonacci retracement of the upward wave launched in March 2020. Source: xStation5
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