Roku (ROKU) Stock Sinks As Market Gains: What You Should Know
The most recent trading session ended with Roku (ROKU) standing at $65.17, reflecting a -0.63% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.11% gain on the day. Elsewhere, the Dow saw an upswing of 0.12%, while the tech-heavy Nasdaq depreciated by 0.12%.
Coming into today, shares of the video streaming company had gained 2.94% in the past month. In that same time, the Consumer Discretionary sector gained 0.92%, while the S&P 500 gained 3.55%.
The investment community will be paying close attention to the earnings performance of Roku in its upcoming release. The company's upcoming EPS is projected at -$0.68, signifying a 50.72% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $850.98 million, indicating a 14.84% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of -$2.16 per share and a revenue of $3.85 billion, demonstrating changes of +56.89% and +10.41%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections 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 company's business health and profitability.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.15% increase. Roku is currently sporting a Zacks Rank of #3 (Hold).
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. At present, this industry carries a Zacks Industry Rank of 216, placing it within the bottom 15% of over 250 industries.
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.
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 Report
