1 Wall Street Analyst Thinks Roku Is Going to $100. Is It a Buy Around $78?
In a number of ways, Roku (NASDAQ: ROKU) has the makings of a market-beating growth stock.The company is the leading streaming distribution platform in North America. When viewers in the U.S., Mexico, and Canada tune in to watch Netflix or another streaming service, they are more likely to use a Roku-enabled device than any other. This shows that the company has defended its market share against competition from big tech companies like Amazon, Alphabet, and Apple.However, the stock's performance has clearly been underwhelming. After a surge during the pandemic shutdowns, Roku gave back all those gains in the 2022 bear market, and has essentially traded sideways during the bull market of the last two years, underperforming the market.Continue reading
In a number of ways, Roku (NASDAQ: ROKU) has the makings of a market-beating growth stock.
The company is the leading streaming distribution platform in North America. When viewers in the U.S., Mexico, and Canada tune in to watch Netflix or another streaming service, they are more likely to use a Roku-enabled device than any other. This shows that the company has defended its market share against competition from big tech companies like Amazon, Alphabet, and Apple.
However, the stock's performance has clearly been underwhelming. After a surge during the pandemic shutdowns, Roku gave back all those gains in the 2022 bear market, and has essentially traded sideways during the bull market of the last two years, underperforming the market.
