The new trading week is kicking off with another Wall Street pro slashing a price target on (NASDAQ: ROKU). Matthew Thornton at Truist is lowering his near-term price goal on shares of the streaming video pioneer from $80 to $70. He was at $80 early last month, but that also follows going from $65 to $80 back in July.

Thornton isn't necessarily bearish on Roku. He is sticking to his hold rating on the company behind North America's leading video streaming operating system. He feels that consensus estimates for the third quarter that Roku will report next week are reasonable as market sentiment turns cautious. He appears to be reacting to the share price, just as he did over the summer when his targets were moving higher as Roku was rallying.

He's not alone at $70. A week ago Steven Cahall at Wells Fargo slashed his price target from $84 to $70. The analyst is also keeping a neutral equal-weight rating on the stock, but he struck a more concerned tone. Cahall warns that Roku could soften in the new quarter with weakening ad trends.   

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Source Fool.com