Yahoo Finance Roku (ROKU) Gains As Market Dips: What You Should Know
In the latest market close, Roku (ROKU) reached $59.93, with a +1.32% movement compared to the previous day. The stock outpaced the S&P 500's daily loss of 0.41%. Elsewhere, the Dow lost 0.12%, while the tech-heavy Nasdaq lost 0.71%.
The video streaming company's shares have seen an increase of 3.19% over the last month, surpassing the Consumer Discretionary sector's gain of 2.29% and falling behind the S&P 500's gain of 3.53%.
Analysts and investors alike will be keeping a close eye on the performance of Roku in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$0.45, showcasing a 40.79% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $935.29 million, up 10.4% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$1.94 per share and revenue of $3.92 billion, which would represent changes of +61.28% and +12.46%, respectively, from the prior year.
Any recent changes to analyst estimates for Roku should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Roku presently features a Zacks Rank of #3 (Hold).
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. With its current Zacks Industry Rank of 143, this industry ranks in the bottom 44% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Roku, Inc. (ROKU): Free Stock Analysis Report
