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Here's Why Robinhood Markets, Inc. (HOOD) Fell More Than Broader Market
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Robinhood Markets, Inc. (HOOD - Free Report) closed the most recent trading day at $74.90, moving -3.17% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 1.36% for the day. Meanwhile, the Dow lost 1.64%, and the Nasdaq, a tech-heavy index, lost 1.46%.
Shares of the company have appreciated by 2.53% over the course of the past month, outperforming the Finance sector's loss of 5.19%, and the S&P 500's loss of 1.76%.
Market participants will be closely following the financial results of Robinhood Markets, Inc. in its upcoming release. The company is expected to report EPS of $0.54, up 45.95% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $1.27 billion, indicating a 37.21% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.31 per share and a revenue of $5.44 billion, representing changes of +12.68% and +21.69%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Robinhood Markets, Inc. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.28% decrease. Robinhood Markets, Inc. presently features a Zacks Rank of #3 (Hold).
In the context of valuation, Robinhood Markets, Inc. is at present trading with a Forward P/E ratio of 33.53. This represents a premium compared to its industry average Forward P/E of 12.75.
It is also worth noting that HOOD currently has a PEG ratio of 1.75. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Financial - Investment Bank industry stood at 0.99 at the close of the market yesterday.
The Financial - Investment Bank industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 31, finds itself in the top 13% echelons 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.
To follow HOOD in the coming trading sessions, be sure to utilize Zacks.com.
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Here's Why Robinhood Markets, Inc. (HOOD) Fell More Than Broader Market
Robinhood Markets, Inc. (HOOD - Free Report) closed the most recent trading day at $74.90, moving -3.17% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 1.36% for the day. Meanwhile, the Dow lost 1.64%, and the Nasdaq, a tech-heavy index, lost 1.46%.
Shares of the company have appreciated by 2.53% over the course of the past month, outperforming the Finance sector's loss of 5.19%, and the S&P 500's loss of 1.76%.
Market participants will be closely following the financial results of Robinhood Markets, Inc. in its upcoming release. The company is expected to report EPS of $0.54, up 45.95% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $1.27 billion, indicating a 37.21% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.31 per share and a revenue of $5.44 billion, representing changes of +12.68% and +21.69%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Robinhood Markets, Inc. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.28% decrease. Robinhood Markets, Inc. presently features a Zacks Rank of #3 (Hold).
In the context of valuation, Robinhood Markets, Inc. is at present trading with a Forward P/E ratio of 33.53. This represents a premium compared to its industry average Forward P/E of 12.75.
It is also worth noting that HOOD currently has a PEG ratio of 1.75. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Financial - Investment Bank industry stood at 0.99 at the close of the market yesterday.
The Financial - Investment Bank industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 31, finds itself in the top 13% echelons 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.
To follow HOOD in the coming trading sessions, be sure to utilize Zacks.com.