Yahoo Finance Is Robinhood Markets (HOOD) Outperforming Other Finance Stocks This Year?
Investors interested in Finance stocks should always be looking to find the best-performing companies in the group. Is Robinhood Markets, Inc. (HOOD) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Finance sector should help us answer this question.
Robinhood Markets, Inc. is one of 871 companies in the Finance group. The Finance group currently sits at #13 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Robinhood Markets, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for HOOD's full-year earnings has moved 26.8% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, HOOD has moved about 32.4% on a year-to-date basis. Meanwhile, stocks in the Finance group have gained about 8.2% on average. As we can see, Robinhood Markets, Inc. is performing better than its sector in the calendar year.
One other Finance stock that has outperformed the sector so far this year is HSBC (HSBC). The stock is up 18.6% year-to-date.
Over the past three months, HSBC's consensus EPS estimate for the current year has increased 1.4%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Robinhood Markets, Inc. is a member of the Financial - Investment Bank industry, which includes 16 individual companies and currently sits at #93 in the Zacks Industry Rank. On average, this group has gained an average of 6.7% so far this year, meaning that HOOD is performing better in terms of year-to-date returns.
On the other hand, HSBC belongs to the Banks - Foreign industry. This 67-stock industry is currently ranked #12. The industry has moved +10% year to date.
Investors interested in the Finance sector may want to keep a close eye on Robinhood Markets, Inc. and HSBC as they attempt to continue their solid performance.
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