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Strength Seen in Robinhood Markets, Inc. (HOOD): Can Its 5.5% Jump Turn into More Strength?
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Robinhood Markets, Inc. (HOOD - Free Report) shares rallied 5.5% in the last trading session to close at $11.83. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 19.8% gain over the past four weeks.
Shares of Robinhood gained for the third consecutive trading day. The rally that is being witnessed in the cryptocurrency market will likely have a positive impact on HOOD’s business. The company buys and sells Bitcoin, Ethereum, Dogecoin, and other cryptocurrencies using its Robinhood Crypto platform. Hence, increased investor interest in these digital assets will support the company’s top line growth. This favorable development drove the HOOD stock higher.
This company is expected to post quarterly loss of $0.01 per share in its upcoming report, which represents a year-over-year change of +97.1%. Revenues are expected to be $469.21 million, up 47.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Robinhood Markets, Inc., the consensus EPS estimate for the quarter has been revised 5.6% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on HOOD going forward to see if this recent jump can turn into more strength down the road.
Robinhood Markets, Inc. is part of the Zacks Financial - Investment Bank industry. Evercore (EVR - Free Report) , another stock in the same industry, closed the last trading session 2.7% higher at $124.02. EVR has returned -0.2% in the past month.
For Evercore, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.54. This represents a change of -37.4% from what the company reported a year ago. Evercore currently has a Zacks Rank of #3 (Hold).
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Strength Seen in Robinhood Markets, Inc. (HOOD): Can Its 5.5% Jump Turn into More Strength?
Robinhood Markets, Inc. (HOOD - Free Report) shares rallied 5.5% in the last trading session to close at $11.83. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 19.8% gain over the past four weeks.
Shares of Robinhood gained for the third consecutive trading day. The rally that is being witnessed in the cryptocurrency market will likely have a positive impact on HOOD’s business. The company buys and sells Bitcoin, Ethereum, Dogecoin, and other cryptocurrencies using its Robinhood Crypto platform. Hence, increased investor interest in these digital assets will support the company’s top line growth. This favorable development drove the HOOD stock higher.
This company is expected to post quarterly loss of $0.01 per share in its upcoming report, which represents a year-over-year change of +97.1%. Revenues are expected to be $469.21 million, up 47.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Robinhood Markets, Inc., the consensus EPS estimate for the quarter has been revised 5.6% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on HOOD going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Robinhood Markets, Inc. is part of the Zacks Financial - Investment Bank industry. Evercore (EVR - Free Report) , another stock in the same industry, closed the last trading session 2.7% higher at $124.02. EVR has returned -0.2% in the past month.
For Evercore, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.54. This represents a change of -37.4% from what the company reported a year ago. Evercore currently has a Zacks Rank of #3 (Hold).