Roku shares are trading lower after the company identified a data incident impacting around 576,000 additional accounts. Additionally, Wells Fargo maintained its Underweight rating on the stock and lowered its price target from $51 to $45.
Portfolio Pulse from Benzinga Newsdesk
Roku shares are trading lower following the announcement of a data incident affecting approximately 576,000 additional accounts. Concurrently, Wells Fargo has reaffirmed its Underweight rating on Roku and reduced its price target from $51 to $45.
April 12, 2024 | 1:29 pm
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Roku's stock is facing downward pressure due to a significant data breach affecting 576,000 accounts, alongside a negative outlook from Wells Fargo, which has lowered its price target.
The negative impact on Roku's stock is due to the dual pressures of a substantial data breach, which can undermine consumer trust and potentially lead to regulatory scrutiny, and a bearish analyst rating from Wells Fargo, which has lowered its price target. Both factors are likely to contribute to short-term bearish sentiment among investors.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100