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The most recent trading session ended with Roku (ROKU - Free Report) standing at $70.86, reflecting a +1.75% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily gain of 0.49%. Meanwhile, the Dow lost 0.2%, and the Nasdaq, a tech-heavy index, added 1.22%.
The video streaming company's stock has dropped by 15.84% in the past month, falling short of the Consumer Discretionary sector's loss of 8.83% and the S&P 500's loss of 8.15%.
The investment community will be paying close attention to the earnings performance of Roku in its upcoming release. It is anticipated that the company will report an EPS of -$0.27, marking a 22.86% rise compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $1 billion, up 13.92% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.27 per share and a revenue of $4.62 billion, indicating changes of +69.66% and +12.23%, respectively, from the former 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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
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 70.71% higher. Roku currently has a Zacks Rank of #2 (Buy).
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This industry, currently bearing a Zacks Industry Rank of 52, finds itself in the top 21% echelons 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Why Roku (ROKU) Outpaced the Stock Market Today
The most recent trading session ended with Roku (ROKU - Free Report) standing at $70.86, reflecting a +1.75% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily gain of 0.49%. Meanwhile, the Dow lost 0.2%, and the Nasdaq, a tech-heavy index, added 1.22%.
The video streaming company's stock has dropped by 15.84% in the past month, falling short of the Consumer Discretionary sector's loss of 8.83% and the S&P 500's loss of 8.15%.
The investment community will be paying close attention to the earnings performance of Roku in its upcoming release. It is anticipated that the company will report an EPS of -$0.27, marking a 22.86% rise compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $1 billion, up 13.92% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.27 per share and a revenue of $4.62 billion, indicating changes of +69.66% and +12.23%, respectively, from the former 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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
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 70.71% higher. Roku currently has a Zacks Rank of #2 (Buy).
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This industry, currently bearing a Zacks Industry Rank of 52, finds itself in the top 21% echelons 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.