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Robinhood Markets, Inc. (HOOD) Ascends But Remains Behind Market: Some Facts to Note
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In the latest market close, Robinhood Markets, Inc. (HOOD - Free Report) reached $20.57, with a +0.83% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily gain of 1.08%. At the same time, the Dow added 0.75%, and the tech-heavy Nasdaq gained 2.64%.
Shares of the company witnessed a loss of 9.17% over the previous month, trailing the performance of the Finance sector with its loss of 1.52% and the S&P 500's loss of 0.44%.
Analysts and investors alike will be keeping a close eye on the performance of Robinhood Markets, Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public on August 7, 2024. The company's earnings per share (EPS) are projected to be $0.15, reflecting a 400% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $629.75 million, indicating a 29.58% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.57 per share and revenue of $2.48 billion, indicating changes of +193.44% and +32.73%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.42% higher. Right now, Robinhood Markets, Inc. possesses a Zacks Rank of #2 (Buy).
In terms of valuation, Robinhood Markets, Inc. is currently trading at a Forward P/E ratio of 35.79. This signifies a premium in comparison to the average Forward P/E of 19.31 for its industry.
The Financial - Investment Bank industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 176, finds itself in the bottom 31% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Robinhood Markets, Inc. (HOOD) Ascends But Remains Behind Market: Some Facts to Note
In the latest market close, Robinhood Markets, Inc. (HOOD - Free Report) reached $20.57, with a +0.83% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily gain of 1.08%. At the same time, the Dow added 0.75%, and the tech-heavy Nasdaq gained 2.64%.
Shares of the company witnessed a loss of 9.17% over the previous month, trailing the performance of the Finance sector with its loss of 1.52% and the S&P 500's loss of 0.44%.
Analysts and investors alike will be keeping a close eye on the performance of Robinhood Markets, Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public on August 7, 2024. The company's earnings per share (EPS) are projected to be $0.15, reflecting a 400% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $629.75 million, indicating a 29.58% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.57 per share and revenue of $2.48 billion, indicating changes of +193.44% and +32.73%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.42% higher. Right now, Robinhood Markets, Inc. possesses a Zacks Rank of #2 (Buy).
In terms of valuation, Robinhood Markets, Inc. is currently trading at a Forward P/E ratio of 35.79. This signifies a premium in comparison to the average Forward P/E of 19.31 for its industry.
The Financial - Investment Bank industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 176, finds itself in the bottom 31% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.