Robinhood Markets, Inc. (HOOD) Dips More Than Broader Market: What You Should Know
In the latest trading session, Robinhood Markets, Inc. (HOOD) closed at $22.04, marking a -1.25% move from the previous day. The stock's change was less than the S&P 500's daily loss of 0.88%. Meanwhile, the Dow experienced a rise of 0.08%, and the technology-dominated Nasdaq saw a decrease of 1.95%.
Shares of the company witnessed a loss of 5.82% over the previous month, trailing the performance of the Finance sector with its loss of 4.28% and the S&P 500's gain of 5.11%.
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 August 7, 2024. The company is expected to report EPS of $0.14, up 366.67% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $621.68 million, indicating a 27.92% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.57 per share and a revenue of $2.46 billion, indicating changes of +193.44% and +31.66%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Robinhood Markets, Inc. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 past month, there's been a 4% rise in the Zacks Consensus EPS estimate. Currently, Robinhood Markets, Inc. is carrying a Zacks Rank of #2 (Buy).
Looking at valuation, Robinhood Markets, Inc. is presently trading at a Forward P/E ratio of 39.02. This expresses a premium compared to the average Forward P/E of 17.75 of its industry.
The Financial - Investment Bank industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 101, finds itself in the top 41% echelons 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Robinhood Markets, Inc. (HOOD) : Free Stock Analysis Report
