Is It Really Time to Give Up on Roku Stock?
Roku (NASDAQ: ROKU) is arguably one of the more frustrating stocks for investors. After reaching a high of over $490 per share in the 2021 bull market, nearly all of the stock's gains were wiped out in the subsequent bear market.
Investors saw some recovery in 2023 as Roku's stock price more than doubled from the December 2022 low of $38.26 per share. But the stock still trades 83% below its all-time high at a time when other digital advertising-related tech stocks have shown more robust signs of recovery. Also, after briefly earning a positive net income in 2021, Roku returned to losses and shows no signs of becoming profitable. Is it time to give up on Roku?
Even Roku's detractors cannot deny that the platform continues to grow in popularity. In the third quarter of 2023, active accounts reached 76 million, a 16% increase in one year. That led to 22% more streaming hours as users increased their time on the platform.
Source Fool.com
Roku Stock
Currently there is a rather positive sentiment for Roku with 35 Buy predictions and 7 Sell predictions.
With a target price of 91 € there is a hugely positive potential of 58.65% for Roku compared to the current price of 57.36 €.
