Up 51% in 2 Years, Is This the Best Tech Stock to Buy Right Now?

By Neil Patel – Mar 22, 2026 at 4:30AM ESTKey PointsWhen it comes to the streaming experience, consumers value simplicity and ease of use, which highlights this company's value proposition.Free cash flow is expected to more than double in the next three years for this business, according to management’s forecast.This tech stock’s current valuation could reflect the market’s concerns about competition.Many digitally enabled businesses saw their share prices skyrocket during the days of the COVID-19 pandemic thanks to strong growth trends. However, these gains didn't last. And now, investors must assess whether these companies are deserving of their capital. One such business is starting to register soaring market sentiment. It's up 51% in the past two years (as of March 18). Is it the best tech stock to buy right now? Image source: Getty Images. Free cash flow growth is a key development to watch The rise of popular streaming services, most notably Netflix, Walt Disney's Disney+ and Hulu, Amazon Prime Video, and Alphabet's YouTube, allowed consumers to unbundle and step away from expensive and user-unfriendly cable TV subscriptions. There might be too many streaming services on the market now. Research from The Motley Fool reveals that 62% of streaming customers think there are too many choices, up from 53% three years before. This plays directly to Roku's (ROKU 2.70%) benefit. Its platform aggregates these streaming services in one place, making it easier for viewers to find their favorite shows, movies, or sporting events to watch. Consequently, Roku has positioned itself to avoid the costly battle between content companies. It wins as streaming continues to take over. While growth has slowed compared to earlier in the decade, the business is still putting up impressive gains. Revenue increased 15% year over year in 2025. Streaming hours also jumped 15%. And Roku expects to reach 100 million households this year. Free cash flow (FCF) might be the most important metric investors should watch. After producing $484 million in free cash flow last year, management believes this figure will total more than $1 billion in 2028. That translates to a fantastic 27% annualized gain. ExpandNASDAQ: ROKURokuToday's Change(-2.70%) $-2.59Current Price$93.27Key Data PointsMarket Cap$14BDay's Range$91.68 - $96.0152wk Range$52.43 - $116.66Volume2.9MAvg Vol3.4MGross Margin43.79% A critical risk factor might be priced in The biggest threat Roku faces comes from competitive forces. It competes directly with powerful tech titans. Apple, Alphabet, and Amazon all operate their own streaming platforms. What's more, they also sell connected TV devices that enable households to consolidate their viewing experience. These businesses have incredible financial resources and experience in digital advertising. For what it's worth, Roku has leading market share in North America in terms of hours streamed. It has been able to succeed in the face of this persistent risk factor. The market might be pricing in that uncertainty, though. Roku shares trade 80% below their peak, and they can be purchased at a reasonable price-to-sales ratio of 3. While I wouldn't go so far as to say that this is the best tech stock to buy right now, I think investors should consider adding Roku to their portfolios while it's on the dip.Read NextFeb 26, 2026 •By Neil PatelSay Hello to the Growth Stock That's Winning the Streaming WarsFeb 13, 2026 •By Joe TenebrusoWhy Roku Stock Popped TodayFeb 10, 2026 •By Rick Munarriz3 Things Roku Stock Needs to Get Right This WeekJan 20, 2026 •By Jon QuastI Predicted Roku's Bounceback in 2025. Here's My Prediction for 2026.Dec 30, 2025 •By Rick MunarrizPrediction: This Will Be the Top-Performing Streaming Stock in 2026Dec 3, 2025 •By Rick MunarrizInvestors Will Want to Watch ROKU Stock in 2026About the AuthorNeil Patel is a contributing Motley Fool stock market analyst covering consumer staples, consumer discretionary, financials, information technology, and communication services. Prior to The Motley Fool, Neil worked in corporate finance roles at JPMorgan Chase and Capital One. He also has experience working on a start-up in the cryptocurrency space. He holds a bachelor’s degree in business administration with a specialization in finance from Ohio State University.TMFNeilPatelStocks MentionedRokuNASDAQ: ROKU$93.35(-2.62%)-$2.51NetflixNASDAQ: NFLX$91.87(+0.14%)+$0.13Walt DisneyNYSE: DIS$99.35(+0.15%)+$0.15AlphabetNASDAQ: GOOGL$300.96(-2.01%)-$6.17AppleNASDAQ: AAPL$248.01(-0.38%)-$0.96AmazonNASDAQ: AMZN$205.37(-1.62%)-$3.39AlphabetNASDAQ: GOOG$298.79(-2.27%)-$6.94*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.