3 Reasons Roku Stock Can Continue Soaring (and 1 Reason It Might Struggle)
Entertainment and media stock Roku (NASDAQ: ROKU) has been a hot buy this year, surging more than 115% year to date. The company is coming off an encouraging quarter that showed strong revenue growth of 11% from the same period last year. The business is doing well, but it's not quite a risk-free investment.
Here are three reasons it may not be too late to buy the stock, and one reason why Roku could disappoint investors in future quarters.
Inflation is putting pressure on consumers' wallets and if streaming services such as Netflix and Walt Disney's Disney+ aren't putting out new content on a regular basis, Roku could be a big benefactor. The ongoing writers strike means that content could soon become stale on those streaming platforms and at a time when consumers may not need an extra incentive to look for more cost-effective entertainment options, the Roku Channel could get a whole lot more popular.
Source Fool.com
Roku Stock
Currently there is a rather positive sentiment for Roku with 29 Buy predictions and 7 Sell predictions.
With a target price of 93 € there is a hugely positive potential of 71.14% for Roku compared to the current price of 54.34 €.
