It might seem that investors could hardly be more optimistic about (NASDAQ: ROKU) stock today. After all, the streaming video specialist's shares more than doubled at one point this year and are currently sitting at over 90% returns in 2023 to date.
Zoom out, though, and that optimistic picture changes. Roku stock is down over 80% from the all-time highs it set when demand was soaring for digital entertainment during the pandemic. Its short-term growth prospects have dimmed substantially since then, but Roku still has a good shot at generating solid returns for patient investors. With that in mind, let's take a closer look at whether this stock is an attractive buy right now.
The big headline takeaway from Roku's second-quarter report in late July was that Roku is growing again. After declining modestly last quarter, platform revenue expanded at a double-digit rate, giving investors hope that the post-pandemic growth hangover has ended.
Source Fool.com