The fourth quarter 2024 revenue season has so far proved to be very positive, with many companies offering solid results and positive commentary surrounding the upcoming period.
This week’s Report Docket is packed with a list that includes Robin Hood Food and Coinbase Coin with many well-known companies. The results of both companies could be seen rising thanks to a blending in crypto trading volume over the past few months.
Let’s take a closer look at what to expect.
Food stocks started the year hot, earning over 50%, and are performing widely compared to the S&P 500. The preferred show from the broader financial sector in Q4 cycles helps keep stock trading higher, and stocks are also very large. The coveted Zacks Rank #1 (strong purchase).
As highlighted below, analysts are particularly bullish in future releases, with $0.42 per share increasing by nearly 70% in recent months, suggesting a 1300% year-on-year growth.
Image Source: Zacks Investment Research
The topline revisions are also particularly bullish, with sales expected to be $941 million from the $671 million forecast for last November. Sales are forecast to rise nearly 100% year-on-year, and are continuing their successive growth.
Hood recorded a double-digit sales growth rate over the previous year in each of its seven previous releases.
Image Source: Zacks Investment Research
As expected, the company’s crypto results will be a major focus of its release. During this period, Hood’s Zacks Consensus estimates of transaction-based crypto revenues were nearly 630% higher than last year, at $311 million.
The growth here is massive and perfectly reflects the above-mentioned cryptography frenzy. As shown below, the company is struggling to consistently surpass expectations for this metric.
Image Source: Zacks Investment Research
Monthly active users are key indicators to watch again, and assets in detention also reflect important items. Given the overall preferred trading environment, not just Crypto, it makes sense to see a decent size rise with these metrics.
Coinbase is the largest cryptocurrency exchange in the US, and its inventory is much more sensitive to the crypto market compared to food. Reported quarterly outlook remains bullish, with the $0.87 Zacks consensus EPS rising 50% in recent months.
Image Source: Zacks Investment Research
Like Hood, Coinbase’s topline revisions are also bullish, with $1.6 billion rising nearly 30% in recent months, suggesting a 70% growth from the previous year. Sales growth has been solid over the recent period, growing at double digits over five consecutive periods.
The story continues