This Stock Has Doubled So Far in 2023. Cathie Wood Believes It Still Has Upside of 528%.
The stock market is in the midst of a remarkable comeback after enduring its worst performance since 2008. The S 500 is up 19% so far this year, while the tech-heavy Nasdaq Composite is up 37% through July. A number of technology stocks -- which were punished mercilessly during the downturn -- have come roaring back but are still well below their pre-downturn highs.
One such stock is (NASDAQ: ROKU). The streaming pioneer has gained 137% thus far in 2023 but is still 80% off its peak. It's unsurprising, then, that Ark Investment Management's Cathie Wood believes the rally has just begun, with the potential for the stock to climb to $605 by 2026, representing an additional upside of 528% even after this year's stunning rally.
Let's review several factors that could help propel Roku stock higher.
Source Fool.com
Roku Stock
Currently there is a rather positive sentiment for Roku with 33 Buy predictions and 6 Sell predictions.
With a target price of 93 € there is a hugely positive potential of 90.69% for Roku compared to the current price of 48.77 €.