Roku Stock Is Beaten Down Now, But It Could 10X
Few stocks fell as far in the 2022 tech stock crash as (NASDAQ: ROKU).
From peak to trough, Roku stock fell more than 90% as stocks and industries that boomed during the pandemic crashed in the reopening. Streaming media was one of them. Streaming sign-ups at services such as Netflix (NASDAQ: NFLX) soared during the pandemic and then hit a wall in 2022, and Roku was a victim of that trend as well.
The company's business is primarily driven by streaming growth and digital advertising, and both of those industries slowed sharply in 2022. At the same time, Roku had ramped up its spending, leading to wide losses. The following chart shows how the company's revenue growth slumped and profits turned into losses during that period.
Source Fool.com
Roku Stock
€55.76
3.200%
Our community is currently high on Roku with 26 Buy predictions and 7 Sell predictions.
As a result the target price of 93 € shows a very positive potential of 66.79% compared to the current price of 55.76 € for Roku.
