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Robinhood Markets (HOOD) has experienced a remarkable surge of over 250% since January 2023, reflecting its rapid market expansion and increasing investor confidence. The stock, currently trading between $120 and $150, has shown a potential for further growth, particularly if it breaks above the $150 resistance level.
In its most recent quarterly report, Robinhood surpassed earnings expectations by 19.6% and has exceeded consensus estimates in nine out of the last ten quarters. Earnings projections have increased significantly, with current-quarter estimates up by nearly 30%, and long-term growth expected at 22.5% annually over the next three to five years.
The stock is currently rated as a Zacks Rank #1 (Strong Buy), driven by robust revenue growth projected at 45.1% for this year and 20.3% next year, as Robinhood continues to innovate across various financial sectors including crypto trading and asset management.
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