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Robinhood Markets, Inc. (HOOD) Ascends While Market Falls: Some Facts to Note
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Robinhood Markets, Inc. (HOOD - Free Report) closed at $9.13 in the latest trading session, marking a +1.78% move from the prior day. This move outpaced the S&P 500's daily loss of 1.26%. Meanwhile, the Dow experienced a drop of 0.86%, and the technology-dominated Nasdaq saw a decrease of 1.54%.
Shares of the company witnessed a loss of 8.75% over the previous month, trailing the performance of the Finance sector with its loss of 5.97% and the S&P 500's loss of 3.67%.
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. On that day, Robinhood Markets, Inc. is projected to report earnings of -$0.08 per share, which would represent year-over-year growth of 60%. Meanwhile, our latest consensus estimate is calling for revenue of $476.86 million, up 32.09% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.61 per share and a revenue of $1.9 billion, representing changes of +47.86% and +20.08%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Robinhood Markets, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 22.09% downward. Robinhood Markets, Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Financial - Investment Bank industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 216, positioning it in the bottom 15% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Robinhood Markets, Inc. (HOOD) Ascends While Market Falls: Some Facts to Note
Robinhood Markets, Inc. (HOOD - Free Report) closed at $9.13 in the latest trading session, marking a +1.78% move from the prior day. This move outpaced the S&P 500's daily loss of 1.26%. Meanwhile, the Dow experienced a drop of 0.86%, and the technology-dominated Nasdaq saw a decrease of 1.54%.
Shares of the company witnessed a loss of 8.75% over the previous month, trailing the performance of the Finance sector with its loss of 5.97% and the S&P 500's loss of 3.67%.
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. On that day, Robinhood Markets, Inc. is projected to report earnings of -$0.08 per share, which would represent year-over-year growth of 60%. Meanwhile, our latest consensus estimate is calling for revenue of $476.86 million, up 32.09% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.61 per share and a revenue of $1.9 billion, representing changes of +47.86% and +20.08%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Robinhood Markets, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 22.09% downward. Robinhood Markets, Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Financial - Investment Bank industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 216, positioning it in the bottom 15% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.