Why Roku Stock Soared This Week
Roku (NASDAQ: ROKU) investors had a great week as shares of the streaming video specialist rose 22% through Thursday trading. That's as compared to a 2.5% rally in the S 500, according to data provided by S&P Global Market Intelligence. The spike added to an excellent year so far for Roku owners, with the stock up nearly 90% so far in 2023.
This week's rally was powered by positive news on the advertising front.
Roku's sales have been pressured by a weak TV advertising market in recent quarters, but the company is taking big strides aimed at reducing its reliance on that volatile niche. To that end, the digital entertainment specialist announced on Tuesday that it has struck a deal with Shopify (NYSE: SHOP) that will potentially usher in a new kind of advertising approach.
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 57.47% for Roku compared to the current price of 59.06 €.
