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Here's Why Robinhood Markets, Inc. (HOOD) Gained But Lagged the Market Today
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Robinhood Markets, Inc. (HOOD - Free Report) ended the recent trading session at $10.67, demonstrating a +0.19% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 0.88%. On the other hand, the Dow registered a gain of 0.54%, and the technology-centric Nasdaq increased by 1.35%.
Heading into today, shares of the company had lost 15.61% over the past month, lagging the Finance sector's loss of 4% and the S&P 500's gain of 0.64% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Robinhood Markets, Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public on February 13, 2024. The company is forecasted to report an EPS of -$0.01, showcasing a 94.74% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $452.62 million, reflecting a 19.11% rise from the equivalent quarter last year.
Any recent changes to analyst estimates for Robinhood Markets, Inc. should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 8.45% higher. Robinhood Markets, Inc. is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Robinhood Markets, Inc. is currently exchanging hands at a Forward P/E ratio of 69.16. This expresses a premium compared to the average Forward P/E of 14.7 of its industry.
The Financial - Investment Bank industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 176, placing it within the bottom 31% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Here's Why Robinhood Markets, Inc. (HOOD) Gained But Lagged the Market Today
Robinhood Markets, Inc. (HOOD - Free Report) ended the recent trading session at $10.67, demonstrating a +0.19% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 0.88%. On the other hand, the Dow registered a gain of 0.54%, and the technology-centric Nasdaq increased by 1.35%.
Heading into today, shares of the company had lost 15.61% over the past month, lagging the Finance sector's loss of 4% and the S&P 500's gain of 0.64% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Robinhood Markets, Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public on February 13, 2024. The company is forecasted to report an EPS of -$0.01, showcasing a 94.74% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $452.62 million, reflecting a 19.11% rise from the equivalent quarter last year.
Any recent changes to analyst estimates for Robinhood Markets, Inc. should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 8.45% higher. Robinhood Markets, Inc. is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Robinhood Markets, Inc. is currently exchanging hands at a Forward P/E ratio of 69.16. This expresses a premium compared to the average Forward P/E of 14.7 of its industry.
The Financial - Investment Bank industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 176, placing it within the bottom 31% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.