Yahoo Finance Robinhood Markets, Inc. (HOOD) Outpaces Stock Market Gains: What You Should Know
Robinhood Markets, Inc. (HOOD) closed the most recent trading day at $16.83, moving +1.17% from the previous trading session. The stock's performance was ahead of the S&P 500's daily gain of 0.87%. Elsewhere, the Dow gained 0.67%, while the tech-heavy Nasdaq added 1.11%.
Shares of the company have depreciated by 9.13% over the course of the past month, underperforming the Finance sector's loss of 5.66% and the S&P 500's loss of 3.97%.
The investment community will be paying close attention to the earnings performance of Robinhood Markets, Inc. in its upcoming release. The company is slated to reveal its earnings on May 8, 2024. In that report, analysts expect Robinhood Markets, Inc. to post earnings of $0.05 per share. This would mark year-over-year growth of 108.77%. Meanwhile, the latest consensus estimate predicts the revenue to be $518.57 million, indicating a 17.59% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.29 per share and a revenue of $2.17 billion, representing changes of +147.54% and +16.36%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Robinhood Markets, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 23.08% rise in the Zacks Consensus EPS estimate. 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 57.74. This denotes a premium relative to the industry's average Forward P/E of 16.63.
The Financial - Investment Bank industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 24, placing it within the top 10% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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) : Free Stock Analysis Report
