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Robinhood Markets, Inc. (HOOD) Gains But Lags Market: What You Should Know

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Robinhood Markets, Inc. (HOOD - Free Report) closed the most recent trading day at $8.25, moving +1.73% from the previous trading session. The stock lagged the S&P 500's daily gain of 2.28%. Elsewhere, the Dow gained 2.13%, while the tech-heavy Nasdaq added 5.02%.

Prior to today's trading, shares of the company had lost 14.81% over the past month. This has lagged the Finance sector's loss of 1.02% and the S&P 500's loss of 4.61% in that time.

Wall Street will be looking for positivity from Robinhood Markets, Inc. as it approaches its next earnings report date. This is expected to be February 8, 2023. On that day, Robinhood Markets, Inc. is projected to report earnings of -$0.14 per share, which would represent year-over-year growth of 71.43%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $390.16 million, up 7.57% from the year-ago period.

Investors should also note any recent changes to analyst estimates for Robinhood Markets, Inc.Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 past month, the Zacks Consensus EPS estimate remained stagnant. Robinhood Markets, Inc. currently has a Zacks Rank of #3 (Hold).

The Financial - Investment Bank industry is part of the Finance sector. This group has a Zacks Industry Rank of 89, putting it in the top 36% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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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