Yahoo Finance Roku (ROKU) Gains As Market Dips: What You Should Know
Roku (ROKU) closed the most recent trading day at $60.92, moving +1.3% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.2%. Elsewhere, the Dow lost 0.59%, while the tech-heavy Nasdaq lost 1.54%.
Coming into today, shares of the video streaming company had gained 9.41% in the past month. In that same time, the Consumer Discretionary sector lost 2.37%, while the S&P 500 gained 4.14%.
Roku will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$1.28, down 56.1% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $769.61 million, up 0.68% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$5.23 per share and revenue of $3.26 billion, which would represent changes of -44.48% and +4.37%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Roku. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.18% higher. Roku is currently sporting a Zacks Rank of #3 (Hold).
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 161, which puts it in the bottom 37% 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.
To follow ROKU in the coming trading sessions, be sure to utilize Zacks.com.
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Roku, Inc. (ROKU) : Free Stock Analysis Report
