Price updated from 10:55 am.
Analyst Kyle Evans wrote in a note to clients that he believes Roku's recent run and higher valuation, as well as higher expectations for the stock, increase its near-term risk.
The video-streaming platform's shares have jumped 50% in May alone, adding to a more than 250% gain since their December low. The stock'ss current valuation and historical volatility create near-term risk, Evans wrote.
The analyst is quite positive long term, though, and wrote: "Everything we are tracking on the fundamental side ... continues to look strong."
Evans' price target is $84, about $10 less than Tuesday's open. The average price target is $78.33.
Shares fell 4.8% to $91.19 on Tuesday afternoon.
There are nine buys, six holds and two sells on the stock, according to Bloomberg.