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Robinhood Markets, Inc. (HOOD) Laps the Stock Market: Here's Why
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The latest trading session saw Robinhood Markets, Inc. (HOOD - Free Report) ending at $10.04, denoting a +1.72% adjustment from its last day's close. This move outpaced the S&P 500's daily gain of 0.52%. Elsewhere, the Dow saw an upswing of 0.4%, while the tech-heavy Nasdaq appreciated by 0.58%.
The company's shares have seen a decrease of 8.95% over the last month, not keeping up with the Finance sector's loss of 3.1% and the S&P 500's loss of 2.61%.
Investors will be eagerly watching for the performance of Robinhood Markets, Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 7, 2023. The company is expected to report EPS of $0.01, up 105% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $475.59 million, up 31.74% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.53 per share and revenue of $1.9 billion. These totals would mark changes of +54.7% and +20.23%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Robinhood Markets, Inc. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 6.83% lower within the past month. Robinhood Markets, Inc. is currently a Zacks Rank #3 (Hold).
The Financial - Investment Bank industry is part of the Finance sector. With its current Zacks Industry Rank of 191, this industry ranks in the bottom 25% of all industries, numbering over 250.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Robinhood Markets, Inc. (HOOD) Laps the Stock Market: Here's Why
The latest trading session saw Robinhood Markets, Inc. (HOOD - Free Report) ending at $10.04, denoting a +1.72% adjustment from its last day's close. This move outpaced the S&P 500's daily gain of 0.52%. Elsewhere, the Dow saw an upswing of 0.4%, while the tech-heavy Nasdaq appreciated by 0.58%.
The company's shares have seen a decrease of 8.95% over the last month, not keeping up with the Finance sector's loss of 3.1% and the S&P 500's loss of 2.61%.
Investors will be eagerly watching for the performance of Robinhood Markets, Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 7, 2023. The company is expected to report EPS of $0.01, up 105% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $475.59 million, up 31.74% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.53 per share and revenue of $1.9 billion. These totals would mark changes of +54.7% and +20.23%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Robinhood Markets, Inc. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 6.83% lower within the past month. Robinhood Markets, Inc. is currently a Zacks Rank #3 (Hold).
The Financial - Investment Bank industry is part of the Finance sector. With its current Zacks Industry Rank of 191, this industry ranks in the bottom 25% of all industries, numbering over 250.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.