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Roku (ROKU) Dips More Than Broader Markets: What You Should Know
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Roku (ROKU - Free Report) closed at $62.21 in the latest trading session, marking a -1% move from the prior day. This change lagged the S&P 500's 0.61% loss on the day. Meanwhile, the Dow lost 0.1%, and the Nasdaq, a tech-heavy index, lost 0.67%.
Heading into today, shares of the video streaming company had gained 44.13% over the past month, outpacing the Consumer Discretionary sector's gain of 16.21% and the S&P 500's gain of 8.32% in that time.
Investors will be hoping for strength from Roku as it approaches its next earnings release, which is expected to be February 15, 2023. On that day, Roku is projected to report earnings of -$1.74 per share, which would represent a year-over-year decline of 1123.53%. Meanwhile, our latest consensus estimate is calling for revenue of $803.17 million, down 7.18% from the prior-year quarter.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 3.74% lower. Roku is holding a Zacks Rank of #3 (Hold) right now.
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 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 (ROKU) Dips More Than Broader Markets: What You Should Know
Roku (ROKU - Free Report) closed at $62.21 in the latest trading session, marking a -1% move from the prior day. This change lagged the S&P 500's 0.61% loss on the day. Meanwhile, the Dow lost 0.1%, and the Nasdaq, a tech-heavy index, lost 0.67%.
Heading into today, shares of the video streaming company had gained 44.13% over the past month, outpacing the Consumer Discretionary sector's gain of 16.21% and the S&P 500's gain of 8.32% in that time.
Investors will be hoping for strength from Roku as it approaches its next earnings release, which is expected to be February 15, 2023. On that day, Roku is projected to report earnings of -$1.74 per share, which would represent a year-over-year decline of 1123.53%. Meanwhile, our latest consensus estimate is calling for revenue of $803.17 million, down 7.18% from the prior-year quarter.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 3.74% lower. Roku is holding a Zacks Rank of #3 (Hold) right now.
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 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.