In the latest trading session, Roku (ROKU - Free Report) closed at $63.37, marking a -1.74% move from the previous day. This change lagged the S&P 500's 0.46% gain on the day. Elsewhere, the Dow gained 0.15%, while the tech-heavy Nasdaq added 0.59%.
Prior to today's trading, shares of the video streaming company had lost 8.93% over the past month. This has lagged the Consumer Discretionary sector's gain of 1.83% and the S&P 500's gain of 3.24% in that time.
Wall Street will be looking for positivity from ROKU as it approaches its next earnings report date. In that report, analysts expect ROKU to post earnings of -$0.24 per share. This would mark a year-over-year decline of 242.86%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $189.06 million, up 38.43% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.72 per share and revenue of $1.02 billion, which would represent changes of -800% and +37.22%, respectively, from the prior year.
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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection has moved 3.25% lower. ROKU is currently a Zacks Rank #3 (Hold).
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 56, putting it in the top 22% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.