Why Roku Stock Has Already Surged 87% This Year
Shares of streaming TV platform company (NASDAQ: ROKU) have had a great year, crushing both the S 500 and the Nasdaq Composite. The stock rose 57.1% during the first half of the year, according to data provided by S&P Global Market Intelligence. But a big boost in July has taken the stock's total return in 2023 to more than 87% as of this writing.
The stock has benefited from a number of factors, including strong momentum in tech stocks overall, a rebound in the stock after a huge sell-off last year, the launch of Roku-branded TVs, and a series of important advertising partnerships.
Capturing the market's hype for tech stocks, the tech-heavy Nasdaq Composite has risen a total of 33% this year, easily beating the S 500's 16.5% gain during this same period. This lift in tech stocks has undoubtedly been a tailwind for Roku's shares.
Source Fool.com
Roku Stock
Our community is currently high on Roku with 29 Buy predictions and 7 Sell predictions.
As a result the target price of 93 € shows a very positive potential of 70.99% compared to the current price of 54.39 € for Roku.
