A new Roku (NASDAQ:ROKU) stock price prediction is in and it’s not looking good for the set-top box company on Wednesday.
The big price prediction for ROKU stock today comes from Morgan Stanley analyst Benjamin Swinburne. He dropped the shares from $295 to $190 and maintained the firm’s underweight rating for the stock.
Swinburne believes that ROKU stock is going to continue having issues even after its growth throughout the pandemic. That includes supply chain problems weighing down on the company’s active account growth.
Morgan Stanley isn’t the only firm that released a new price prediction for ROKU stock today. JPMorgan analyst Cory Carpenter also put out a new price target for the shares while sharing his thoughts.
Carpenter isn’t quite as bearish as Swinburne but still dropped his price target for ROKU stock. This saw him cutting it from $435 per share to $315 per share while keeping an overweight rating. He believes the company will see lower levels of growth in a post-pandemic world, reports TheFly.com.
So how do these new price predictions for ROKU stock stack up to other analysts’ opinions? The current consensus rating for ROKU is buy. That comes from 21 buy ratings, two hold ratings, and two sell ratings. To go along with that, the analyst consensus price target is $395.73 per share.
To put it simply, both Morgan Stanley and JPMorgan have bearish stances on ROKU stock when compared to their peers.
ROKU stock is down 13.2% as of Wednesday afternoon and is down 39.5% since the start of the year.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.