A higher valuation has raised the stakes for Roku and pushed Loop Capital to the sidelines.
Analyst Alan Gould downgraded the streaming stock to hold from buy while keeping his price target at $85.
Ultimately, he said the stock is trading at a valuation that leaves less of a cushion.
Roku shares slipped 1.5% before the bell Thursday after climbing almost 3% in Wednesday's session.
ROKU YTD mountain Roku shares this year — CNBC's Michael Bloom contributed to this report
Persons:
Alan Gould, Gould, Roku, Dan Jedda, CNBC's Michael Bloom
Locations:
Wednesday's