We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
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 (HOOD) Moves 14.0% Higher: Will This Strength Last?
Read MoreHide Full Article
Robinhood Markets, Inc. (HOOD - Free Report) shares ended the last trading session 14% higher at $82.82. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 37% loss over the past four weeks.
After four straight sessions of declines, the stock surged on Friday as cryptocurrencies bounced and broader markets swung back into “risk-on” mode. Because Robinhood’s business is tightly linked to retail trading and crypto activity, investors often bid up the shares when volatility returns, anticipating higher user engagement and increased transaction-driven revenue.
This company is expected to post quarterly earnings of $0.62 per share in its upcoming report, which represents a year-over-year change of +14.8%. Revenues are expected to be $1.32 billion, up 30.5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Robinhood Markets, the consensus EPS estimate for the quarter has been revised 5% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on HOOD going forward to see if this recent jump can turn into more strength down the road.
Robinhood Markets is a member of the Zacks Financial - Investment Bank industry. One other stock in the same industry, BGC Group (BGC - Free Report) , finished the last trading session 1% higher at $8.96. BGC has returned 0.6% over the past month.
BGC Group's consensus EPS estimate for the upcoming report has changed -5.4% over the past month to $0.29. Compared to the company's year-ago EPS, this represents a change of +16%. BGC Group currently boasts a Zacks Rank of #4 (Sell).
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report
predicting the 7 stocks that will soar highest in the coming month.
View the Zacks #1 Rank List
Image: Bigstock
Robinhood Markets (HOOD) Moves 14.0% Higher: Will This Strength Last?
Robinhood Markets, Inc. (HOOD - Free Report) shares ended the last trading session 14% higher at $82.82. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 37% loss over the past four weeks.
After four straight sessions of declines, the stock surged on Friday as cryptocurrencies bounced and broader markets swung back into “risk-on” mode. Because Robinhood’s business is tightly linked to retail trading and crypto activity, investors often bid up the shares when volatility returns, anticipating higher user engagement and increased transaction-driven revenue.
This company is expected to post quarterly earnings of $0.62 per share in its upcoming report, which represents a year-over-year change of +14.8%. Revenues are expected to be $1.32 billion, up 30.5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Robinhood Markets, the consensus EPS estimate for the quarter has been revised 5% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on HOOD going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Robinhood Markets is a member of the Zacks Financial - Investment Bank industry. One other stock in the same industry, BGC Group (BGC - Free Report) , finished the last trading session 1% higher at $8.96. BGC has returned 0.6% over the past month.
BGC Group's consensus EPS estimate for the upcoming report has changed -5.4% over the past month to $0.29. Compared to the company's year-ago EPS, this represents a change of +16%. BGC Group currently boasts a Zacks Rank of #4 (Sell).