Roku (ROKU) closed the most recent trading day at $74.41, moving -3.05% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 1.13%. Meanwhile, the Dow experienced a drop of 1.79%, and the technology-dominated Nasdaq saw a decrease of 1.3%.
Coming into today, shares of the video streaming company had gained 9.53% in the past month. In that same time, the Consumer Discretionary sector gained 3.54%, while the S&P 500 gained 3.55%.
Investors will be eagerly watching for the performance of Roku in its upcoming earnings disclosure. The company's upcoming EPS is projected at -$0.15, signifying a 37.50% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.07 billion, up 10.62% from the year-ago period.
ROKU's full-year Zacks Consensus Estimates are calling for earnings of -$0.17 per share and revenue of $4.55 billion. These results would represent year-over-year changes of +80.9% and +10.54%, respectively.
Investors should also note any recent changes to analyst estimates for Roku. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. 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 78, putting it in the top 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Roku, Inc. (ROKU): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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