Zinger Key Points
- Robinhood anticipates Q4 earnings with a surge in stock fueled by bullish technical signals and increased social media attention.
- Despite overbought caution, Robinhood's pre-earnings scenario reveals positive momentum backed by bullish technical indicators.
- Get Monthly Picks of Market's Fastest Movers
Robinhood Markets Inc HOOD, will be reporting its fourth-quarter earnings on Tuesday. Wall Street expects a negative 1 cent in EPS and $453.46 million in revenues as the company reports after market hours.
The company is known for being a financial technology company that provides commission-free trading of stocks, exchange-traded funds, options, and cryptocurrencies through its mobile app and online platform.
The stock has been rising lately, with the uptick being attributed to increased attention ahead of its earnings report and significant mentions on social platforms.
Related: A Preview Of Robinhood Markets’s Earnings
Robinhood Stock Technical Setup Ahead Of Q4 Earnings
The technical setup for Robinhood stock suggests a strongly bullish trend.
The share price consistently sits above its 5, 20, and 50-day exponential moving averages, reflecting notable buying pressure. Moreover, the 200-day simple moving average stands at $10.31, well below its 50-day SMA at $11.48 a share, which is often interpreted as a bullish signal.
The Moving Average Convergence Divergence (MACD) indicator is 0.01, supporting the overall bullish sentiment.
However, caution is advised as the Relative Strength Index (RSI) is at 65.5, indicating the stock is nearing overbought conditions.
Nevertheless, the Bollinger Bands for both the short-term (25) and long-term (100) suggest a bullish scenario, further emphasizing the current positive outlook for Robinhood stock.
Robinhood Analysts Consensus Ratings
Ratings & Consensus Estimates: The consensus analyst rating on Robinhood stock stand at a Neutral, with a price target of $14.05. Analysts, in January, have mostly upgrades their price targets for Robinhood stock, which now lie in the range of $11.50 to $15 a share.
HOOD Price Action: Shares of Robinhood were down 2.6% at $11.70 at the time of publication Tuesday.
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