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Robinhood Markets, Inc. (HOOD) Stock Dips While Market Gains: Key Facts
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Robinhood Markets, Inc. (HOOD - Free Report) closed the latest trading day at $9.08, indicating a -0.66% change from the previous session's end. This change lagged the S&P 500's daily gain of 1.05%. Elsewhere, the Dow saw an upswing of 0.67%, while the tech-heavy Nasdaq appreciated by 1.64%.
The company's shares have seen a decrease of 4.09% over the last month, not keeping up with the Finance sector's loss of 3.19% and the S&P 500's loss of 2.21%.
Market participants will be closely following the financial results of Robinhood Markets, Inc. in its upcoming release. The company plans to announce its earnings on November 7, 2023. The company is forecasted to report an EPS of -$0.10, showcasing a 50% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $480.16 million, up 33.01% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.63 per share and a revenue of $1.9 billion, indicating changes of +46.15% and +20.48%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Robinhood Markets, Inc. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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, there's been a 24.6% fall in the Zacks Consensus EPS estimate. Currently, Robinhood Markets, Inc. is carrying a Zacks Rank of #3 (Hold).
The Financial - Investment Bank industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 198, positioning it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow HOOD in the coming trading sessions, be sure to utilize Zacks.com.
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Robinhood Markets, Inc. (HOOD) Stock Dips While Market Gains: Key Facts
Robinhood Markets, Inc. (HOOD - Free Report) closed the latest trading day at $9.08, indicating a -0.66% change from the previous session's end. This change lagged the S&P 500's daily gain of 1.05%. Elsewhere, the Dow saw an upswing of 0.67%, while the tech-heavy Nasdaq appreciated by 1.64%.
The company's shares have seen a decrease of 4.09% over the last month, not keeping up with the Finance sector's loss of 3.19% and the S&P 500's loss of 2.21%.
Market participants will be closely following the financial results of Robinhood Markets, Inc. in its upcoming release. The company plans to announce its earnings on November 7, 2023. The company is forecasted to report an EPS of -$0.10, showcasing a 50% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $480.16 million, up 33.01% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.63 per share and a revenue of $1.9 billion, indicating changes of +46.15% and +20.48%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Robinhood Markets, Inc. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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, there's been a 24.6% fall in the Zacks Consensus EPS estimate. Currently, Robinhood Markets, Inc. is carrying a Zacks Rank of #3 (Hold).
The Financial - Investment Bank industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 198, positioning it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow HOOD in the coming trading sessions, be sure to utilize Zacks.com.