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Roku (ROKU) Stock Dips While Market Gains: Key Facts
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In the latest trading session, Roku (ROKU - Free Report) closed at $64.13, marking a -0.43% move from the previous day. This change lagged the S&P 500's 1.12% gain on the day. Elsewhere, the Dow saw an upswing of 0.61%, while the tech-heavy Nasdaq appreciated by 1.54%.
Shares of the video streaming company have depreciated by 34.66% over the course of the past month, underperforming the Consumer Discretionary sector's gain of 1.03% and the S&P 500's gain of 2.06%.
The investment community will be closely monitoring the performance of Roku in its forthcoming earnings report. In that report, analysts expect Roku to post earnings of -$0.68 per share. This would mark year-over-year growth of 50.72%. Meanwhile, our latest consensus estimate is calling for revenue of $850.98 million, up 14.84% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$2.16 per share and revenue of $3.85 billion, indicating changes of +56.89% and +10.46%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Roku. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 7.28% higher. As of now, Roku holds 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 180, putting it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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) Stock Dips While Market Gains: Key Facts
In the latest trading session, Roku (ROKU - Free Report) closed at $64.13, marking a -0.43% move from the previous day. This change lagged the S&P 500's 1.12% gain on the day. Elsewhere, the Dow saw an upswing of 0.61%, while the tech-heavy Nasdaq appreciated by 1.54%.
Shares of the video streaming company have depreciated by 34.66% over the course of the past month, underperforming the Consumer Discretionary sector's gain of 1.03% and the S&P 500's gain of 2.06%.
The investment community will be closely monitoring the performance of Roku in its forthcoming earnings report. In that report, analysts expect Roku to post earnings of -$0.68 per share. This would mark year-over-year growth of 50.72%. Meanwhile, our latest consensus estimate is calling for revenue of $850.98 million, up 14.84% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$2.16 per share and revenue of $3.85 billion, indicating changes of +56.89% and +10.46%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Roku. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 7.28% higher. As of now, Roku holds 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 180, putting it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.