Roku (ROKU) Rises As Market Takes a Dip: Key Facts

Zacks Equity Research
·2-min read

In the latest market close, Roku (ROKU) reached $58.69, with a +1.91% movement compared to the previous day. The stock exceeded the S&P 500, which registered a loss of 0.22% for the day. Meanwhile, the Dow experienced a rise of 0.06%, and the technology-dominated Nasdaq saw a decrease of 0.52%.

The video streaming company's shares have seen a decrease of 11.33% over the last month, not keeping up with the Consumer Discretionary sector's loss of 5.12% and the S&P 500's loss of 1.66%.

Investors will be eagerly watching for the performance of Roku in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 25, 2024. The company is predicted to post an EPS of -$0.64, indicating a 53.62% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $850.97 million, up 14.84% from the year-ago period.

For the annual period, the Zacks Consensus Estimates anticipate earnings of -$2.12 per share and a revenue of $3.86 billion, signifying shifts of +57.68% and +10.87%, respectively, from the last year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Roku. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.47% higher. Roku is holding a Zacks Rank of #3 (Hold) right now.

The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 233, positioning it in the bottom 8% of all 250+ industries.

The Zacks Industry Rank is ordered 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.

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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