Robinhood Markets, Inc. (HOOD) shares soared 9.8% in the last trading session to close at $25.61. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 18.6% gain over the past four weeks.

Shares of Robinhood rallied for the third consecutive trading session and touched a new 52-week high of $25.80 on Tuesday. Earlier in the day, the company announced its plan to hold the first Investor Day on Dec. 4. The company management will share its “vision for the next 10+ years and how that can drive customer and shareholder value.” 

Also, Barclays raised its target price on HOOD stock to $23 from $20 as the analysts “see momentum in the business likely to continue given the appealing offers and product set.” It also added that the company CEO Vlad Tenev is expected to reveal new products at the "HOOD Summit" scheduled on Oct. 16.

This company is expected to post quarterly earnings of $0.19 per share in its upcoming report, which represents a year-over-year change of +311.1%. Revenues are expected to be $672.16 million, up 43.9% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Robinhood Markets, the consensus EPS estimate for the quarter has been revised 4.1% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on HOOD going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Robinhood Markets is part of the Zacks Financial - Investment Bank industry. Interactive Brokers Group, Inc. (IBKR), another stock in the same industry, closed the last trading session 0.7% lower at $147.59. IBKR has returned 19.6% in the past month.

Interactive Brokers' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.73. Compared to the company's year-ago EPS, this represents a change of +11.6%. Interactive Brokers currently boasts a Zacks Rank of #3 (Hold).

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