In the latest trading session, Roku (ROKU) concluded at $84.06, marking a minimal +0.06% adjustment from its previous day's close. This performance fell behind the S&P 500's daily gain of 0.88%. Simultaneously, the Dow experienced a 0.54% gain, and the Nasdaq, a tech-heavy index, added 1.35%.
Over the last month, shares of the video streaming company retreated by 5.72%. This decline was more pronounced compared to the 3.43% loss in the Consumer Discretionary sector and the 0.64% gain in the S&P 500 during the same period.
Investors are eagerly awaiting Roku's upcoming earnings release to gauge its financial performance. Analysts anticipate Roku to report earnings of -$0.65 per share, reflecting a substantial year-over-year growth of 61.76%. Meanwhile, our latest consensus estimate projects revenue of $957.44 million, indicating a 10.42% increase from the prior-year quarter.
It's crucial for investors to track recent changes in analyst estimates for Roku, as these revisions often mirror the evolving trends in short-term business dynamics. Positive estimate revisions can be interpreted as a sign of optimism regarding the company's business outlook.
Empirical research supports the idea that these estimate changes are closely linked to forthcoming stock price performance. To leverage this, we've developed the Zacks Rank—a unique model incorporating these estimate adjustments, offering a practical rating system.
The Zacks Rank spans from #1 (Strong Buy) to #5 (Strong Sell) and boasts a remarkable, independently audited track record of success. #1 stocks have delivered an average annual return of +25% since 1988. In the past month, the Zacks Consensus EPS estimate for Roku has remained unchanged. Presently, Roku holds a Zacks Rank of #2 (Buy).
The Broadcast Radio and Television industry, to which Roku belongs, is situated within the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 213, positioning it in the bottom 16% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, calculated based on the average Zacks Rank of individual stocks within these groups. Our research underscores that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Stay tuned to Zacks.com for comprehensive coverage of these and other stock-moving metrics in the upcoming trading sessions.
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