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Is Robinhood Markets (HOOD) Outperforming Other Finance Stocks This Year?
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The Finance group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Robinhood Markets, Inc. (HOOD - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Finance peers, we might be able to answer that question.
Robinhood Markets, Inc. is one of 869 companies in the Finance group. The Finance group currently sits at #2 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Robinhood Markets, Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for HOOD's full-year earnings has moved 7.7% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, HOOD has moved about 184.8% on a year-to-date basis. At the same time, Finance stocks have gained an average of 9.6%. This means that Robinhood Markets, Inc. is outperforming the sector as a whole this year.
One other Finance stock that has outperformed the sector so far this year is Ameris Bancorp (ABCB - Free Report) . The stock is up 9.7% year-to-date.
In Ameris Bancorp's case, the consensus EPS estimate for the current year increased 2.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Robinhood Markets, Inc. belongs to the Financial - Investment Bank industry, a group that includes 21 individual stocks and currently sits at #17 in the Zacks Industry Rank. This group has gained an average of 23.7% so far this year, so HOOD is performing better in this area.
On the other hand, Ameris Bancorp belongs to the Banks - Southeast industry. This 54-stock industry is currently ranked #11. The industry has moved +1.3% year to date.
Investors interested in the Finance sector may want to keep a close eye on Robinhood Markets, Inc. and Ameris Bancorp as they attempt to continue their solid performance.
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Is Robinhood Markets (HOOD) Outperforming Other Finance Stocks This Year?
The Finance group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Robinhood Markets, Inc. (HOOD - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Finance peers, we might be able to answer that question.
Robinhood Markets, Inc. is one of 869 companies in the Finance group. The Finance group currently sits at #2 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Robinhood Markets, Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for HOOD's full-year earnings has moved 7.7% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, HOOD has moved about 184.8% on a year-to-date basis. At the same time, Finance stocks have gained an average of 9.6%. This means that Robinhood Markets, Inc. is outperforming the sector as a whole this year.
One other Finance stock that has outperformed the sector so far this year is Ameris Bancorp (ABCB - Free Report) . The stock is up 9.7% year-to-date.
In Ameris Bancorp's case, the consensus EPS estimate for the current year increased 2.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Robinhood Markets, Inc. belongs to the Financial - Investment Bank industry, a group that includes 21 individual stocks and currently sits at #17 in the Zacks Industry Rank. This group has gained an average of 23.7% so far this year, so HOOD is performing better in this area.
On the other hand, Ameris Bancorp belongs to the Banks - Southeast industry. This 54-stock industry is currently ranked #11. The industry has moved +1.3% year to date.
Investors interested in the Finance sector may want to keep a close eye on Robinhood Markets, Inc. and Ameris Bancorp as they attempt to continue their solid performance.