We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Robinhood Markets, Inc. (HOOD) Advances While Market Declines: Some Information for Investors
Read MoreHide Full Article
The latest trading session saw Robinhood Markets, Inc. (HOOD - Free Report) ending at $18.34, denoting a +0.22% adjustment from its last day's close. The stock's performance was ahead of the S&P 500's daily loss of 0.95%. Elsewhere, the Dow saw a downswing of 1.09%, while the tech-heavy Nasdaq depreciated by 0.84%.
Shares of the company have appreciated by 11.65% over the course of the past month, outperforming the Finance sector's loss of 1.88% and the S&P 500's gain of 1.78%.
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 May 8, 2024. In that report, analysts expect Robinhood Markets, Inc. to post earnings of $0.04 per share. This would mark year-over-year growth of 107.02%. In the meantime, our current consensus estimate forecasts the revenue to be $503.05 million, indicating a 14.07% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.26 per share and a revenue of $2.15 billion, indicating changes of +142.62% and +15.03%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Robinhood Markets, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 26.73% higher. Robinhood Markets, Inc. is holding a Zacks Rank of #2 (Buy) right now.
Looking at valuation, Robinhood Markets, Inc. is presently trading at a Forward P/E ratio of 71.48. This denotes a premium relative to the industry's average Forward P/E of 16.35.
The Financial - Investment Bank industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 26, positioning it in the top 11% of all 250+ industries.
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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Robinhood Markets, Inc. (HOOD) Advances While Market Declines: Some Information for Investors
The latest trading session saw Robinhood Markets, Inc. (HOOD - Free Report) ending at $18.34, denoting a +0.22% adjustment from its last day's close. The stock's performance was ahead of the S&P 500's daily loss of 0.95%. Elsewhere, the Dow saw a downswing of 1.09%, while the tech-heavy Nasdaq depreciated by 0.84%.
Shares of the company have appreciated by 11.65% over the course of the past month, outperforming the Finance sector's loss of 1.88% and the S&P 500's gain of 1.78%.
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 May 8, 2024. In that report, analysts expect Robinhood Markets, Inc. to post earnings of $0.04 per share. This would mark year-over-year growth of 107.02%. In the meantime, our current consensus estimate forecasts the revenue to be $503.05 million, indicating a 14.07% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.26 per share and a revenue of $2.15 billion, indicating changes of +142.62% and +15.03%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Robinhood Markets, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 26.73% higher. Robinhood Markets, Inc. is holding a Zacks Rank of #2 (Buy) right now.
Looking at valuation, Robinhood Markets, Inc. is presently trading at a Forward P/E ratio of 71.48. This denotes a premium relative to the industry's average Forward P/E of 16.35.
The Financial - Investment Bank industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 26, positioning it in the top 11% of all 250+ industries.
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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.