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Robinhood Markets Inc. (NASDAQ: HOOD) Surprised Bears With Its Forecast.

In today’s recent session, 0.83 million shares of the Robinhood Markets Inc. (NASDAQ:HOOD) were traded. Most recently the company’s share price was $8.50, and it changed around -$0.18 or -2.07% from the last close, which brings the market valuation of the company to $7.98B. HOOD at last check was trading at a discount to its 52-week high of $12.76, offering almost -50.12% off that amount. The share price’s 52-week low was $6.81, which indicates that the recent value has risen by an impressive 19.88% since then. We note from Robinhood Markets Inc.’s average daily trading volume that its 10-day average is 10.1 million shares, with the 3-month average coming to 6.92 million.

Robinhood Markets Inc. stock received a consensus recommendation rating of a Hold, based on a mean score of 3.10. If we narrow it down even further, the data shows that 2 out of 15 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 7 recommended HOOD as a Hold, whereas 4 deemed it a Buy, and 2 rated it as Underweight. Robinhood Markets Inc. is expected to report earnings per share of -$0.01 for the current quarter.

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Robinhood Markets Inc. (NASDAQ:HOOD) trade information

Instantly HOOD has been showing red trend so far today with a performance of -2.07% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 8.86 on Tuesday, 05/23/23 increased the stock’s daily price by 4.06%. The company’s shares are currently up 4.42% year-to-date, but still up 0.47% over the last five days. On the other hand, Robinhood Markets Inc. (NASDAQ:HOOD) is -6.49% up in the 30-day period. We can see from the shorts that 34.1 million shares have been sold at a short interest cover period of 5.36 day(s).

The consensus price target as assigned by Wall Street analysts is $11.69, which translates to bulls needing to increase their stock price by 27.29% from its current value. Analyst projections state that HOOD is forecast to be at a low of $8.00 and a high of $25.00. In order for the stock price to hit the forecast high, the stock would need to plunge -194.12% from its current level, while the stock would need to crash 5.88% from its current level to reach the projected low.

Robinhood Markets Inc. (HOOD) estimates and forecasts

Robinhood Markets Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -3.95 percent over the past six months and at a 45.30% annual growth rate that is well above the industry average of 8.20%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 97.10% in revenue this quarter, and will report an increase of 85.00% in the next quarter. The year-over-year growth rate is expected to be 36.50%, up from the previous year.

Consensus estimates provided by 7 financial analysts predict the company will bring in an average of $468.25 million in revenue for the current quarter. 7 analysts expect Robinhood Markets Inc. to make $462.81 million in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $318 million and $355.27 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 47.20%. Forecasts for the next quarter put sales growth at 30.30%.

HOOD Dividends

Robinhood Markets Inc.’s next quarterly earnings report is expected to be released on May 10.

Robinhood Markets Inc. (NASDAQ:HOOD)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 8.06% of Robinhood Markets Inc. shares, and 71.53% of them are in the hands of institutional investors. The stock currently has a share float of 77.80%. Robinhood Markets Inc. stock is held by 398 institutions, with Index Venture Associates VI Ltd being the largest institutional investor. By Mar 30, 2023, it held 8.40% of the shares, which is about 65.11 million shares worth $632.18 million.

Galileo (ptc) Ltd, with 7.49% or 58.06 million shares worth $563.8 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.

ARK ETF Tr-ARK Innovation ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Mar 30, 2023. The former held 20.22 million shares worth $196.29 million, making up 2.63% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 18.45 million shares worth around $150.21 million, which represents about 2.40% of the total shares outstanding.

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