1 HOOD stock price showing a bearish market trend as Robinhood Markets is almost near reporting its next earnings. 2 Since last week, HOOD share price experienced bears’ increased dominance. Robinhood Markets (HOOD) stock price showed a bearish market trend with a 5.56% of price ...
- 1 HOOD stock price showing a bearish market trend as Robinhood Markets is almost near reporting its next earnings.
- 2 Since last week, HOOD share price experienced bears’ increased dominance.
Robinhood Markets (HOOD) stock price showed a bearish market trend with a 5.56% of price drop. However, its year-to-date (YTD) price analysis is showing a bullish trend with over 48% price gain. Additionally, the recent 1-month price performance of stock also signaled positive sentiments in HOOD share price.
As Q2 2023 earnings date is coming near, HOOD stock price started dropping down as bears have shown their dominance. Notably, Robinhood Markets Inc. is going to release its Q2 2023 report on August 2, 2023.
More than 10 Million of trading volume activity was experienced in HOOD share price on the last day of trading. The other similar industry stocks such as Unity Software Inc. (NYSE: U), Lufax Holding Ltd – ADR (NYSE: LU), Shopify Inc. (NYSE: SHOP), and Bilibili Inc. – ADR (NASDAQ: BILI) also noted over 10 Million of trading volume activity as the above chart shows.
HOOD Stock Price Analysis
On July 27, 2023, Thursday, HOOD stock noted its opening at $12.88, lost $0.51, and then closed at $12.23. With a 4% price drop, HOOD stock noted yesterday’s high at $12.94 while the low was $12.09, as per the data sourced from TradingView, a web-based social network for traders.
However, the bullish trend followed by HOOD shares last week took its price to mark a 52-week high. It also supported its RSI to reach near the overbought zone. The recent weekly price decline clearly opposes its previous bullish price performance. Due to that, the RSI further started a downward trend.
Furthermore, the 1-year price target set by the analyst is showing at $12.08, down 1.25% from the stock’s recent closing price. The maximum estimate set by the analysts is resting at $25.00 while the minimum estimate is $8.00.
The Financials of Robinhood Markets
Robinhood Markets Inc. (NASDAQ: HOOD), has a market cap of nearly $11.04 Billion. According to its Q1 2023 report, released on May 10, 2023, its net income during the quarter is negative $511.00 Million.
HOOD earnings per share (EPS) for the last quarter is negative $0.57 whereas the estimation was negative $0.62 which accounts for a 7.53% surprise. The revenue for the same period amounts to $441.00 Million despite the estimated figure of $424.76 Million.
For the upcoming quarter, the estimated EPS is negative $0.01, and revenue is expected to reach $472.94 Million. Last year, the revenue of Robinhood Markets Inc. reached $1.36 Billion, most of which — $1.36 Billion — came from its highest-performing source at the moment, “trading and brokerage activities”.
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