In the latest trading session, Roku (ROKU) closed at $103.40, marking a +0.15% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.12%. Meanwhile, the Dow lost 0.08%, and the Nasdaq, a tech-heavy index, added 0.54%.
Heading into today, shares of the video streaming company had gained 2.62% over the past month, lagging the Consumer Discretionary sector's gain of 3.65% and the S&P 500's gain of 3.68% in that time.
ROKU will be looking to display strength as it nears its nex t earnings release. Meanwhile, our latest consensus estimate is calling for revenue of $224.75 million, up 43.32% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.58 per share and revenue of $1.04 billion. These totals would mark changes of -625% and +39.72%, respectively, from last year.
Any recent changes to analyst estimates for ROKU should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 remained stagnant. ROKU currently has a Zacks Rank of #1 (Strong Buy).
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 185, which puts it in the bottom 28% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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