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Roku (ROKU) Stock Moves -1.66%: What You Should Know

·2 min read

In the latest trading session, Roku (ROKU) closed at $59.88, marking a -1.66% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.72%. Meanwhile, the Dow lost 1.62%, and the Nasdaq, a tech-heavy index, added 0.09%.

Heading into today, shares of the video streaming company had lost 17.08% over the past month, lagging the Consumer Discretionary sector's loss of 10.47% and the S&P 500's loss of 9.09% in that time.

Investors will be hoping for strength from Roku as it approaches its next earnings release. On that day, Roku is projected to report earnings of -$1.37 per share, which would represent a year-over-year decline of 385.42%. Meanwhile, our latest consensus estimate is calling for revenue of $698.93 million, up 2.79% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$3.56 per share and revenue of $3.11 billion. These totals would mark changes of -308.19% and +12.6%, respectively, from last year.

Investors should also note any recent changes to analyst estimates for Roku. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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. Within the past 30 days, our consensus EPS projection has moved 13.06% lower. Roku is holding a Zacks Rank of #4 (Sell) right now.

The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 205, which puts it in the bottom 19% 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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