Robinhood Markets Inc (NASDAQ:HOOD) shares, rose in value on Friday, April 05, with the stock price up by 1.25% to the previous day’s close as strong demand from buyers drove the stock to $18.68.
Actively observing the price movement in the recent trading, the stock is buoying the session at $18.45. The value of beta (5-year monthly) is 1.63. Referring to stock’s 52-week performance, its high was $20.55, and the low was $7.91. On the whole, HOOD has fluctuated by 13.90% over the past month.
With the market capitalization of Robinhood Markets Inc currently standing at about $16.34 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 08, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.05, which is expected to increase to $0.14 for fiscal year $0.29 and then to about $0.41 by fiscal year 2025. Data indicates that the EPS growth is expected to be 147.50% in 2025, while the next year’s EPS growth is forecast to be 41.40%.
Analysts have estimated the company’s revenue for the quarter at $538.85 million, with a low estimate of $509.88 million and a high estimate of $576 million. According to the average forecast, sales growth in current quarter could jump up 26.90%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $2.2 billion, representing an increase of 18.10% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that HOOD’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of HOOD currently trading nearly 2.04% and 23.05% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 58.18, while the 7-day volatility ratio is showing 4.71% which for the 30-day chart, stands at 5.05%. Furthermore, Robinhood Markets Inc (HOOD)’s beta value is 1.70, and its average true range (ATR) is 0.91.
A comparison of Robinhood Markets Inc (HOOD) with its peers suggests the former has fared considerably weaker in the market. HOOD showed an intraday change of 1.25% in today’s session so far, and over the past year, it grew by 91.39%%.
Data on historical trading for Robinhood Markets Inc (NASDAQ:HOOD) indicates that the trading volumes over the past 10 days have averaged 15.95 million and over the past 3 months, they’ve averaged 15.70 million. According to company’s latest data on outstanding shares, there are 745.40 million shares outstanding.
Nearly 49.83% of Robinhood Markets Inc’s shares belong to company insiders and institutional investors own 40.91% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 32.2 million shares as on Mar 15, 2024, resulting in a short ratio of 1.62. According to the data, the short interest in Robinhood Markets Inc (HOOD) stood at 3.68% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 36.19 million. The stock has risen by 46.63% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the HOOD stock heading into the next quarter.
