Roku closed at $108.82, down 1.85% from the previous day, while the S&P 500 gained 0.88%. The stock has risen by 21.85% in the past month, outperforming the Consumer Discretionary sector and the S&P 500.

Analysts expect Roku to post earnings of $0.28 per share, a 216.67% year-over-year growth. Revenue is estimated to be $1.35 billion, a 12.62% increase from the previous year. The Zacks Consensus Estimates project full-year earnings of $0.33 per share and revenue of $4.69 billion.

Roku is currently a Zacks Rank #2 (Buy), with the Zacks Rank system showing a history of outperformance. The stock is trading at a Forward P/E ratio of 334.7, reflecting a premium compared to the industry average of 15.5. The Broadcast Radio and Television industry has a Zacks Industry Rank of 158.

Research Chief names Roku as a top pick with significant upside potential targeting millennial and Gen Z audiences. The company generated nearly $1 billion in revenue last quarter, making it an attractive investment opportunity. The Zacks expert predicts a potential for the stock to double in value.

Read more at Nasdaq: Roku (ROKU) Stock Declines While Market Improves: Some Information for Investors