1 Wall Street Analyst Thinks Roku Stock Is Going to $100. Is It a Buy Around $63?
(NASDAQ: ROKU) ended 2023 on a strong note, but a muted outlook for 2024 scared investors enough to push the stock 24% lower following the fourth-quarter report.
With shares trading around $63 as of this writing, one analyst thinks the sell-off is a fantastic opportunity. Needham analyst Laura Martin has a buy recommendation on Roku and a price target of $100 per share.
Roku reported healthy growth for its active accounts, platform revenue, and device revenue in the fourth quarter with all three metrics up 13% to 15% year over year. But a 4% decline in average revenue per use (ARPU) and management's warning in the shareholder letter regarding a "challenging [media and entertainment] environment" in 2024 became the focus for investors.
Source Fool.com
Roku Stock
Currently there is a rather positive sentiment for Roku with 27 Buy predictions and 7 Sell predictions.
With a target price of 93 € there is a hugely positive potential of 77.72% for Roku compared to the current price of 52.33 €.
