Shares of Roku (NASDAQ: ROKU) jumped on Wednesday, rising several percentage points even as the overall market declined. The stock's big move was fueled by news that the company was doubling down on its cost-cutting efforts and lifting its forecast for third-quarter revenue and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA). But were investors right to pounce? Is the growth stock really a good buy today?

Let's take a look at the company, its recent performance, and the stock's valuation to see if it's a good time to buy Roku stock.

Until Roku reported its second-quarter results in July, there were significant concerns about the company's ability to grow rapidly. Its days of swift growth seemed, increasingly, to be a thing of the past.

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Source Fool.com