Roku Inc (ROKU) stock plummeted 8.11% in pre-market trading on Friday, following a significant price target cut by Citigroup analyst Jason Bazinet. The streaming platform provider's shares have been under pressure due to concerns over recent tariffs and potential macroeconomic headwinds.

Citigroup's Bazinet reduced his price target for Roku from $103 to $81, citing the impact of recently introduced tariffs on the company's business. Roku heavily relies on foreign manufacturers for its hardware production, making it particularly vulnerable to trade-related issues. Despite the substantial cut, Bazinet maintained his neutral recommendation on the stock.

The analyst's concerns extend beyond tariffs, as he also expressed worries about a softening macroeconomic environment and its potential negative effects on Roku's business. These factors have contributed to the sharp decline in Roku's stock price, which has seen a significant drop of nearly 18% over the past week. Despite these challenges, some investors may view the current price weakness as a potential buying opportunity, given Roku's strong position in the growing video streaming market and its guidance for operating profitability by 2026.