Could Roku Stock Hit $100 in 2023?
Last year was an especially bad one for formerly fast-growing tech stocks. Roku (NASDAQ: ROKU), in particular, was absolutely hammered -- its shares crashed by 82% in 2022. But this year is off to a much better start, and investors are starting to wonder whether or not tech shares can maintain their momentum.
As we look toward the rest of 2023, is it likely that this top streaming stock reaches $100 per share by year's end? Let's take a closer look at what shareholders should expect.
As of this writing on Jan. 23, Roku shares are trading hands at around $55, with a price-to-sales multiple of 2.4. That ratio was pushed higher thanks to a stock price that has soared by 34% so far in January. Even so, the current valuation is about as cheap as Roku has ever been since it went public in September 2017.
Source Fool.com
