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Robinhood Markets, Inc. (HOOD) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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In the latest trading session, Robinhood Markets, Inc. (HOOD - Free Report) closed at $24.18, marking a -1.83% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 1.39%. At the same time, the Dow added 0.6%, and the tech-heavy Nasdaq lost 2.77%.
The company's shares have seen an increase of 12.67% over the last month, surpassing the Finance sector's loss of 0.08% and the S&P 500's gain of 4.43%.
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 August 7, 2024. In that report, analysts expect Robinhood Markets, Inc. to post earnings of $0.14 per share. This would mark year-over-year growth of 366.67%. Meanwhile, our latest consensus estimate is calling for revenue of $621.68 million, up 27.92% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.55 per share and a revenue of $2.46 billion, representing changes of +190.16% and +31.66%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections 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 company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.73% increase. Right now, Robinhood Markets, Inc. possesses a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Robinhood Markets, Inc. has a Forward P/E ratio of 44.46 right now. For comparison, its industry has an average Forward P/E of 17.33, which means Robinhood Markets, Inc. is trading at a premium to the group.
The Financial - Investment Bank industry is part of the Finance sector. This group has a Zacks Industry Rank of 102, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Robinhood Markets, Inc. (HOOD) Sees a More Significant Dip Than Broader Market: Some Facts to Know
In the latest trading session, Robinhood Markets, Inc. (HOOD - Free Report) closed at $24.18, marking a -1.83% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 1.39%. At the same time, the Dow added 0.6%, and the tech-heavy Nasdaq lost 2.77%.
The company's shares have seen an increase of 12.67% over the last month, surpassing the Finance sector's loss of 0.08% and the S&P 500's gain of 4.43%.
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 August 7, 2024. In that report, analysts expect Robinhood Markets, Inc. to post earnings of $0.14 per share. This would mark year-over-year growth of 366.67%. Meanwhile, our latest consensus estimate is calling for revenue of $621.68 million, up 27.92% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.55 per share and a revenue of $2.46 billion, representing changes of +190.16% and +31.66%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections 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 company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.73% increase. Right now, Robinhood Markets, Inc. possesses a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Robinhood Markets, Inc. has a Forward P/E ratio of 44.46 right now. For comparison, its industry has an average Forward P/E of 17.33, which means Robinhood Markets, Inc. is trading at a premium to the group.
The Financial - Investment Bank industry is part of the Finance sector. This group has a Zacks Industry Rank of 102, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.