The most recent trading session ended with Roku (ROKU) standing at $80.21, reflecting a -1.33% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily loss of 1.46%. Meanwhile, the Dow experienced a rise of 0.65%, and the technology-dominated Nasdaq saw a decrease of 3.07%.
Prior to today's trading, shares of the video streaming company had gained 5.53% over the past month. This has outpaced the Consumer Discretionary sector's gain of 0.19% and the S&P 500's gain of 1.08% in that time.
The investment community will be closely monitoring the performance of Roku in its forthcoming earnings report. The company's upcoming EPS is projected at -$0.44, signifying a 20% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.15 billion, up 16.37% from the year-ago period.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Roku. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.72% higher. As of now, Roku holds a Zacks Rank of #1 (Strong Buy).
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This industry, currently bearing a Zacks Industry Rank of 58, finds itself in the top 24% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.
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