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Why Robinhood Markets, Inc. (HOOD) Dipped More Than Broader Market Today
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Robinhood Markets, Inc. (HOOD - Free Report) closed the most recent trading day at $19.20, moving -1.08% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 0.72%. Meanwhile, the Dow experienced a drop of 1%, and the technology-dominated Nasdaq saw a decrease of 0.95%.
Heading into today, shares of the company had gained 16.72% over the past month, outpacing the Finance sector's gain of 3.08% and the S&P 500's gain of 2.16% in that time.
Investors will be eagerly watching for the performance of Robinhood Markets, Inc. in its upcoming earnings disclosure. On that day, Robinhood Markets, Inc. is projected to report earnings of $0.04 per share, which would represent year-over-year growth of 107.02%. Meanwhile, the latest consensus estimate predicts the revenue to be $503.05 million, indicating a 14.07% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.23 per share and revenue of $2.1 billion, which would represent changes of +137.7% and +12.7%, respectively, from the prior year.
Any recent changes to analyst estimates for Robinhood Markets, Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 15.84% higher. Currently, Robinhood Markets, Inc. is carrying a Zacks Rank of #2 (Buy).
In terms of valuation, Robinhood Markets, Inc. is currently trading at a Forward P/E ratio of 82.95. This valuation marks a premium compared to its industry's average Forward P/E of 16.86.
The Financial - Investment Bank industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 26, which puts it in the top 11% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Why Robinhood Markets, Inc. (HOOD) Dipped More Than Broader Market Today
Robinhood Markets, Inc. (HOOD - Free Report) closed the most recent trading day at $19.20, moving -1.08% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 0.72%. Meanwhile, the Dow experienced a drop of 1%, and the technology-dominated Nasdaq saw a decrease of 0.95%.
Heading into today, shares of the company had gained 16.72% over the past month, outpacing the Finance sector's gain of 3.08% and the S&P 500's gain of 2.16% in that time.
Investors will be eagerly watching for the performance of Robinhood Markets, Inc. in its upcoming earnings disclosure. On that day, Robinhood Markets, Inc. is projected to report earnings of $0.04 per share, which would represent year-over-year growth of 107.02%. Meanwhile, the latest consensus estimate predicts the revenue to be $503.05 million, indicating a 14.07% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.23 per share and revenue of $2.1 billion, which would represent changes of +137.7% and +12.7%, respectively, from the prior year.
Any recent changes to analyst estimates for Robinhood Markets, Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 15.84% higher. Currently, Robinhood Markets, Inc. is carrying a Zacks Rank of #2 (Buy).
In terms of valuation, Robinhood Markets, Inc. is currently trading at a Forward P/E ratio of 82.95. This valuation marks a premium compared to its industry's average Forward P/E of 16.86.
The Financial - Investment Bank industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 26, which puts it in the top 11% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.