Up 73%, Is It Too Late to Buy Roku Stock?
Following a sharp fall last year amid inflation and a weak advertising market, shares of (NASDAQ: ROKU) have rocketed 73% higher in 2023. The leading streaming aggregator is still reporting weak revenue. However, investors are already discounting a possible near-term recovery in the ad market, which is how Roku makes most of its money.
Despite increasing competition, Roku maintained its lead in the connected TV market. Here's how the company is positioned for more growth once the ad market recovers.
Recent estimates from Pixalate have Roku controlling a dominant 50% share of the connected TV market in North America. While Roku reported just a 1% year-over-year increase in revenue in the first quarter, its active accounts grew 17%, ending the period just shy of 72 million.
Source Fool.com
Roku Stock
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 69.34% compared to the current price of 54.92 € for Roku.
