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Roku (ROKU) Gains But Lags Market: What You Should Know
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Roku (ROKU - Free Report) closed the most recent trading day at $50.62, moving +0.94% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.19%. At the same time, the Dow added 1.34%, and the tech-heavy Nasdaq lost 0.18%.
Heading into today, shares of the video streaming company had lost 16.25% over the past month, lagging the Consumer Discretionary sector's loss of 2.57% and the S&P 500's loss of 0.84% in that time.
Investors will be hoping for strength from Roku as it approaches its next earnings release, which is expected to be November 2, 2022. 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%. Our most recent consensus estimate is calling for quarterly revenue of $698.93 million, up 2.79% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$3.55 per share and revenue of $3.11 billion, which would represent changes of -307.6% and +12.36%, respectively, from the prior 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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 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 0.14% higher. 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 140, putting it in the bottom 45% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Roku (ROKU) Gains But Lags Market: What You Should Know
Roku (ROKU - Free Report) closed the most recent trading day at $50.62, moving +0.94% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.19%. At the same time, the Dow added 1.34%, and the tech-heavy Nasdaq lost 0.18%.
Heading into today, shares of the video streaming company had lost 16.25% over the past month, lagging the Consumer Discretionary sector's loss of 2.57% and the S&P 500's loss of 0.84% in that time.
Investors will be hoping for strength from Roku as it approaches its next earnings release, which is expected to be November 2, 2022. 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%. Our most recent consensus estimate is calling for quarterly revenue of $698.93 million, up 2.79% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$3.55 per share and revenue of $3.11 billion, which would represent changes of -307.6% and +12.36%, respectively, from the prior 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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 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 0.14% higher. 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 140, putting it in the bottom 45% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.