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4 Stocks I'm Watching This Week as Potential Buys

By Jose Najarro – Sep 7, 2021 at 12:13PM

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The streaming and software market might be giving investors buying opportunities.

Today's video focuses on Roku (ROKU 0.04%), Cerence (CRNC 0.51%), Shopify (SHOP -1.23%), and Autodesk (ADSK -0.65%). These four companies are on my potential buying list due to recent stock price movements and news. Here are some highlights from the video: 

  1. Roku's stock price has gone down since the company reported earnings on Aug. 4, 2021. The company reported 81% year-over-year revenue growth, but investors seem to be fearful of the slowdown in future growth due to countries easing lockdown restrictions. Roku also recently announced that it will be expanding into Germany later this year. 
  2. Cerence is a company that focuses on conversational AI. In its most recent earnings, the company reported 29% YOY revenue growth, which exceeded the company's prior guidance. After earnings, numerous analysts have increased their 12-month price target on Cerence.
  3. Shopify reported its 2021 second-quarter earnings on July 28, and it announced 57% YOY revenue growth driven by its merchant solutions. Investors should note that Shopify's second-quarter revenue was over 1/3 of last year's full-year revenue. 

Click the video below for my full thoughts and analysis. 

*Stock prices used were the premarket prices of Sept. 7, 2021. The video was published on Sept. 7, 2021.



Jose Najarro owns shares of Cerence Inc., Roku, and Shopify. The Motley Fool owns shares of and recommends Autodesk, Roku, and Shopify. The Motley Fool recommends Cerence Inc. and recommends the following options: long January 2023 $1,140 calls on Shopify and short January 2023 $1,160 calls on Shopify. The Motley Fool has a disclosure policy. Jose is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.

Stocks Mentioned

Roku Stock Quote
Roku
ROKU
$51.22 (0.04%) $0.02
Autodesk Stock Quote
Autodesk
ADSK
$193.34 (-0.65%) $-1.27
Shopify Stock Quote
Shopify
SHOP
$38.49 (-1.23%) $0.48
Cerence Stock Quote
Cerence
CRNC
$17.67 (0.51%) $0.09

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

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