Robinhood Markets (NASDAQ:HOOD) saw a 0.66% decrease in the latest trading session, ending at $9.08, lagging behind the S&P 500's 1.05% gain, Dow's 0.67% rise, and Nasdaq's 1.64% appreciation. The company has seen a decrease of 4.09% in share value over the past month, trailing the Finance sector and the S&P 500.
Despite this downtrend, Robinhood is set to announce its financial results on November 7, 2023, with an earnings forecast of -$0.10 per share. This figure signifies a marked improvement from last year, showing a 50% year-on-year progression.
Furthermore, the fiscal year earnings are anticipated to be -$0.63 per share on revenue of $1.9 billion. These figures indicate changes of +46.15% and +20.48% respectively from the previous year.
InvestingPro Insights
In addition to the aforementioned analysis, InvestingPro provides valuable real-time data and tips for Robinhood. As per InvestingPro, Robinhood's market cap stands at $8280M USD. Despite a challenging recent period, the company's revenue growth over the last twelve months as of Q2 2023 is encouraging at 24.01%.
InvestingPro Tips highlight that Robinhood's earnings per share have been consistently increasing, and net income is expected to grow this year. This is in line with the Zacks Consensus Estimate that predicts a marked improvement in earnings. However, it's worth noting that the company was not profitable over the last twelve months.
Moreover, two analysts have revised their earnings upwards for the upcoming period, which could indicate a potential positive trend for the company. On the downside, the company does not pay a dividend to shareholders, which might be a point of consideration for income-focused investors.
For more comprehensive insights, InvestingPro offers a total of 7 additional tips for Robinhood. These can provide a more detailed understanding of the company's financial health and market position, thereby aiding in more informed investment decisions.
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