Robinhood Markets, Inc. (HOOD) Surpasses Market Returns: Some Facts Worth Knowing
The most recent trading session ended with Robinhood Markets, Inc. (HOOD) standing at $17.31, reflecting a +0.7% shift from the previouse trading day's closing. This change outpaced the S&P 500's 0.03% gain on the day. On the other hand, the Dow registered a gain of 0.41%, and the technology-centric Nasdaq increased by 0.12%.
Heading into today, shares of the company had lost 5.6% over the past month, lagging the Finance sector's loss of 5.58% and the S&P 500's loss of 0.9% in that time.
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 May 8, 2024. It is anticipated that the company will report an EPS of $0.05, marking a 108.77% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $518.57 million, indicating a 17.59% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.29 per share and revenue of $2.17 billion. These totals would mark changes of +147.54% and +16.36%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Robinhood Markets, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 23.08% upward. Robinhood Markets, Inc. is holding a Zacks Rank of #2 (Buy) right now.
In the context of valuation, Robinhood Markets, Inc. is at present trading with a Forward P/E ratio of 59.69. This denotes a premium relative to the industry's average Forward P/E of 16.75.
The Financial - Investment Bank industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 40, which puts it in the top 16% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Robinhood Markets, Inc. (HOOD) : Free Stock Analysis Report
