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Why the Market Dipped But Robinhood Markets, Inc. (HOOD) Gained Today
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Robinhood Markets, Inc. (HOOD - Free Report) closed at $9.10 in the latest trading session, marking a +0.78% move from the prior day. The stock outpaced the S&P 500's daily loss of 1.18%. Elsewhere, the Dow saw a downswing of 0.76%, while the tech-heavy Nasdaq depreciated by 1.76%.
Coming into today, shares of the company had lost 5.64% in the past month. In that same time, the Finance sector lost 5.47%, while the S&P 500 lost 3.35%.
The investment community will be closely monitoring the performance of Robinhood Markets, Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on November 7, 2023. The company's earnings per share (EPS) are projected to be -$0.08, reflecting a 60% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $476.86 million, up 32.09% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.61 per share and a revenue of $1.9 billion, signifying shifts of +47.86% and +20.08%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Robinhood Markets, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 moved 22.09% lower. As of now, Robinhood Markets, Inc. holds a Zacks Rank of #3 (Hold).
The Financial - Investment Bank industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 187, placing it within the bottom 26% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.
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Why the Market Dipped But Robinhood Markets, Inc. (HOOD) Gained Today
Robinhood Markets, Inc. (HOOD - Free Report) closed at $9.10 in the latest trading session, marking a +0.78% move from the prior day. The stock outpaced the S&P 500's daily loss of 1.18%. Elsewhere, the Dow saw a downswing of 0.76%, while the tech-heavy Nasdaq depreciated by 1.76%.
Coming into today, shares of the company had lost 5.64% in the past month. In that same time, the Finance sector lost 5.47%, while the S&P 500 lost 3.35%.
The investment community will be closely monitoring the performance of Robinhood Markets, Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on November 7, 2023. The company's earnings per share (EPS) are projected to be -$0.08, reflecting a 60% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $476.86 million, up 32.09% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.61 per share and a revenue of $1.9 billion, signifying shifts of +47.86% and +20.08%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Robinhood Markets, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 moved 22.09% lower. As of now, Robinhood Markets, Inc. holds a Zacks Rank of #3 (Hold).
The Financial - Investment Bank industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 187, placing it within the bottom 26% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.