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Should You Buy #1 (Strong Buy)-Ranked Robinhood Markets, Inc. (HOOD) for Your Portfolio?
Robinhood Markets, Inc. was upgraded to the Zacks Rank #1 list on January 2, 2025. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.
Headquartered in Menlo Park, CA, Robinhood Markets Inc. is a financial services company that offers trading services in crypto, stocks, options and ETFs, cash management, margin and securities lending, and Robinhood Gold. The company aims to democratize finance through its commission-free trading model, which was launched in 2013, with no account minimums. The company serves in the United States, U.K., and selected European Union (EU) jurisdictions through its apps and subsidiaries.
For fiscal 2024, four analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.17 to $0.91 per share. HOOD boasts an average earnings surprise of 173.6%.
Earnings are forecasted to see growth of 249.2% for the current fiscal year, and sales are expected to increase 53.6%.
Additionally, HOOD has climbed higher over the past four weeks, gaining 25.6%. The S&P 500 is down 0.4% in comparison.
Bottom Line
With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Robinhood Markets, Inc. could be just the stock to help your portfolio generate returns that could fund your retirement, your kids' college tuition, or your short- and long-term savings goals.
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