Roku Inc ROKU shares are trading lower by 7.6% at $204.77 after Morgan Stanley maintained an Underweight rating on the stock and lowered its price target from $295 to $190.
Roku shares are trading lower by 20% over the past five sessions as shares of streaming, social media and gaming companies are trading lower amid overall market weakness as omicron variant concerns weigh on stocks across sectors.
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Roku is the leading streaming platform in the U.S. by hours watched with under 59 billion hours of content streamed in 2020. Roku generates revenue from advertising, distribution fees, hardware sales, OS licensing and subscription sales.
Roku has a 52-week high of $490.76 and a 52-week low of $196.94.
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