In the latest trading session, Roku (ROKU - Free Report) closed at $58.65, marking a +0.14% move from the previous day. The stock outpaced the S&P 500's daily of 0%. Meanwhile, the Dow lost 0.05%, and the Nasdaq, a tech-heavy index, lost 0.21%.
Coming into today, shares of the video streaming company had lost 3.57% in the past month. In that same time, the Consumer Discretionary sector gained 4.09%, while the S&P 500 gained 5.49%.
ROKU will be looking to display strength as it nears its next earnings release. On that day, ROKU is projected to report earnings of -$0.24 per share, which would represent 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.
Investors should also note any recent changes to analyst estimates for ROKU. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 past month, the Zacks Consensus EPS estimate has moved 3.25% lower. ROKU is currently sporting 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 49, putting it in the top 20% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.