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Robinhood Markets, Inc. (HOOD) Increases Despite Market Slip: Here's What You Need to Know
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Robinhood Markets, Inc. (HOOD - Free Report) closed the most recent trading day at $16.65, moving +0.97% from the previous trading session. The stock outperformed the S&P 500, which registered a daily loss of 0.34%. At the same time, the Dow added 0.23%, and the tech-heavy Nasdaq lost 0.33%.
Shares of the company have depreciated by 14.12% over the course of the past month, underperforming the Finance sector's loss of 7.94% and the S&P 500's loss of 4.05%.
The upcoming earnings release of Robinhood Markets, Inc. will be of great interest to investors. The company's earnings report is expected on May 8, 2024. The company's upcoming EPS is projected at $0.05, signifying a 108.77% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $534.47 million, showing a 21.19% escalation compared to the year-ago quarter.
HOOD's full-year Zacks Consensus Estimates are calling for earnings of $0.29 per share and revenue of $2.24 billion. These results would represent year-over-year changes of +147.54% and +19.95%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Robinhood Markets, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 23.08% rise in the Zacks Consensus EPS estimate. Robinhood Markets, Inc. currently has a Zacks Rank of #2 (Buy).
From a valuation perspective, Robinhood Markets, Inc. is currently exchanging hands at a Forward P/E ratio of 57.26. Its industry sports an average Forward P/E of 16.94, so one might conclude that Robinhood Markets, Inc. is trading at a premium comparatively.
The Financial - Investment Bank industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 19, placing it within the top 8% 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.
To follow HOOD in the coming trading sessions, be sure to utilize Zacks.com.
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Robinhood Markets, Inc. (HOOD) Increases Despite Market Slip: Here's What You Need to Know
Robinhood Markets, Inc. (HOOD - Free Report) closed the most recent trading day at $16.65, moving +0.97% from the previous trading session. The stock outperformed the S&P 500, which registered a daily loss of 0.34%. At the same time, the Dow added 0.23%, and the tech-heavy Nasdaq lost 0.33%.
Shares of the company have depreciated by 14.12% over the course of the past month, underperforming the Finance sector's loss of 7.94% and the S&P 500's loss of 4.05%.
The upcoming earnings release of Robinhood Markets, Inc. will be of great interest to investors. The company's earnings report is expected on May 8, 2024. The company's upcoming EPS is projected at $0.05, signifying a 108.77% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $534.47 million, showing a 21.19% escalation compared to the year-ago quarter.
HOOD's full-year Zacks Consensus Estimates are calling for earnings of $0.29 per share and revenue of $2.24 billion. These results would represent year-over-year changes of +147.54% and +19.95%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Robinhood Markets, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 23.08% rise in the Zacks Consensus EPS estimate. Robinhood Markets, Inc. currently has a Zacks Rank of #2 (Buy).
From a valuation perspective, Robinhood Markets, Inc. is currently exchanging hands at a Forward P/E ratio of 57.26. Its industry sports an average Forward P/E of 16.94, so one might conclude that Robinhood Markets, Inc. is trading at a premium comparatively.
The Financial - Investment Bank industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 19, placing it within the top 8% 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.
To follow HOOD in the coming trading sessions, be sure to utilize Zacks.com.