Roku Stock Is Up 135% And Has Room to Run
(NASDAQ: ROKU) stock has soared off its 52-week low following a rough year for the advertising market, which is how Roku makes most of its money. The company reported financial results for the second quarter that were better than feared. Revenue growth of 11% year over year was a big improvement over the first quarter's growth of just 1%.
Following strong earnings reports from leading digital advertisers Meta Platforms and Google parent Alphabet, the ad market could be showing signs of a recovery. Here's why this top streaming stock is still a good investment at these highs.
There is still weak demand overall in the advertising market. Roku expects revenue in the third quarter to increase by 7% year over year, down from 11% in the second quarter. But digging into other metrics in the report shows Roku is in a solid position to see accelerating revenue growth as the ad market recovers.
Source Fool.com
Roku Stock
Currently there is a rather positive sentiment for Roku with 34 Buy predictions and 7 Sell predictions.
With a target price of 93 € there is a positive potential of 49.59% for Roku compared to the current price of 62.17 €.
