Is Roku Stock a Buy Now?
Investors are excited about (NASDAQ: ROKU) stock again. Shares are up sharply so far this year following a dismal 2022. Wall Street is becoming more optimistic that the streaming video giant can see improving sales and earnings results as the advertising market stabilizes.
But Roku is still generating large losses right now, and sales trends are likely to remain under pressure into late 2023. With that mixed backdrop in mind, let's look at whether the stock is an attractive buy right now.
The good news in Roku's late-April earnings update centered around engagement and costs. The platform attracted plenty of usage in Q1, with streaming hours rising 20% to cross 25 billion. Roku's user base expanded at nearly the same clip, rising 27% to reach 72 million, compared to 61 million a year ago.
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 70.67% for Roku compared to the current price of 54.49 €.
