Investors focused on the Consumer Discretionary space have likely heard of Roku (NASDAQ:ROKU), but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock's year-to-date performance in comparison to its Consumer Discretionary peers, we might be able to answer that question.
Roku is a member of our Consumer Discretionary group, which includes 274 different companies and currently sits at #7 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. ROKU is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for ROKU's full-year earnings has moved 198.29% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, ROKU has gained about 3.75% so far this year. In comparison, Consumer Discretionary companies have returned an average of -6.34%. This means that Roku is performing better than its sector in terms of year-to-date returns.
Breaking things down more, ROKU is a member of the Broadcast Radio and Television industry, which includes 21 individual companies and currently sits at #63 in the Zacks Industry Rank. This group has gained an average of 17.21% so far this year, so ROKU is slightly underperforming its industry in this area.
Investors with an interest in Consumer Discretionary stocks should continue to track ROKU. The stock will be looking to continue its solid performance.
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Roku, Inc. (ROKU): Free Stock Analysis Report
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