4 Stocks I'm Watching This Week as Potential Buys

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Today’s video focuses on Roku (NASDAQ:ROKU), Cerence (NASDAQ:CRNC), Shopify (NYSE:SHOP), and Autodesk (NASDAQ:ADSK). 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.

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This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.