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Roku 20% pullback good buying opportunity, says Deutsche Bank
Deutsche Bank analyst Jeffrey Rand recommends buying the recent weakness in shares of Roku. Impacted by a rising rate environment, Roku's stock has fallen over 20% since its last earnings report, Rand tells investors in a research note. While many growth-oriented tech companies have faced challenges in the current environment, with the transition to streaming continuing at a "rapid pace," the recent pullback in Roku's stock as a good buying opportunity, says the analyst. Rand's checks indicate that advertising demand for connected TV has been strong in Q1. He views the Q1 earnings as a potential positive catalyst for the stock and keeps a Buy rating on Roku.