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Roku (ROKU) Gains As Market Dips: What You Should Know

Zacks Equity Research

In the latest trading session, Roku (ROKU) closed at $64.97, marking a +0.08% move from the previous day. This change outpaced the S&P 500's 0.29% loss on the day. At the same time, the Dow lost 0.55%, and the tech-heavy Nasdaq gained 0.07%.

Prior to today's trading, shares of the video streaming company had gained 21.98% over the past month. This has outpaced the Consumer Discretionary sector's loss of 0.55% and the S&P 500's gain of 2.14% in that time.

Wall Street will be looking for positivity from ROKU as it approaches its next earnings report date. In that report, analysts expect ROKU to post earnings of -$0.25 per share. This would mark a year-over-year decline of 257.14%. Meanwhile, our latest consensus estimate is calling for revenue of $189.25 million, up 38.57% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.72 per share and revenue of $1.02 billion, which would represent changes of -800% and +37.32%, respectively, from the prior year.

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Investors might also notice recent changes to analyst estimates for ROKU. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 129.41% lower. ROKU currently has a Zacks Rank of #3 (Hold).

The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 97, putting it in the top 39% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.


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