Roku slides after forecasting slower Q4 revenue growth
Shares of streaming platform Roku ROKU.O down 5.85% at $94.18 in premarket trading after co forecasts slower revenue growth for Q4
Co expects Q4 revenue growth of 12%, below 14% in Q3 and 15% in Q2
Roku forecasts Q4 revenue at $1.35 bln vs analysts’ average estimate of $1.32 bln
Q3 total revenue came in at $1.21 bln, in line with analyst estimates
Co says platform segment growth seen slowing to 15%
Roku faces stiff competition in ad-supported streaming from Amazon AMZN.O, Google GOOGL.O and Apple AAPL.O
J.P.Morgan lifts PT on co to $115 from $105, saying Q4 outlook supports its 2026 bull case, helped by ad partnership with Amazon, new homescreen and World Cup tailwinds
On the other hand, Jefferies notes the lack of Q3 upside may keep shares range-bound despite strong platform growth outlook
20 out of 33 analysts rate the stock "buy" or higher, 12 "hold" and one "sell"; median PT at $110 - data compiled by LSEG
Stock down 8.38% YTD, as of last close
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