As the third-quarter earnings season heats up, several standout companies are poised for impressive triple-digit growth.
1. $Robinhood(HOOD)$
Robinhood reached a 52-week high of $26.80 on Wednesday, the highest since December 2021, giving the company a market cap of $23.7 billion. Year-to-date, its stock has more than doubled, surging 110%.
Analysts predict Robinhood's earnings per share (EPS) will hit $0.26, a remarkable turnaround from a loss of $0.09 per share a year ago, marking a 276% increase. Revenue is expected to rise 39.1% year-over-year to $649.6 million.
Several factors are supporting this growth: increased customer engagement, higher interest income from uninvested cash balances, and a surge in cryptocurrency trading activity.
Additionally, Robinhood has made significant strides in diversifying its revenue, particularly in options trading and subscription products. Its InvestingPro financial health score is well above average, indicating strong balance sheet stability and operational efficiency.
2. $DraftKings Inc.(DKNG)$
The online sports betting giant DraftKings is benefiting from a favorable market environment and business expansion, with its quarterly report also expected to shine.
As multiple states legalize sports betting and DraftKings continues to gain market share, the company is poised for triple-digit profit growth this quarter. On Tuesday, DraftKings' stock closed at $38.14, valuing the company at $18.5 billion, with an 8.2% increase since the start of 2024.
Wall Street forecasts DraftKings will post a loss of $0.25 per share, a significant improvement from last year's loss of $0.61. Revenue is projected to jump nearly 40% year-over-year to $1.1 billion.
DraftKings has launched new products, including a mobile betting platform, and has partnered with major sports leagues, solidifying its market leadership. The start of the NFL and NBA seasons, along with other major sports events, is expected to boost revenue and profits significantly.
3. $On Holding AG(ONON)$
Swiss performance running shoe brand ON Holding is also anticipated to achieve impressive earnings growth. The company is globally recognized, with strong consumer demand, especially in North America and Europe.
As of Wednesday, ON Holding's stock was priced at $49.39, slightly below its 52-week high of $52.80 set on October 9. Its current market cap is $15.9 billion, with an 83.1% rise this year.
Analysts expect ON Holding's EPS to reach $0.20, a remarkable 400% increase from last year's $0.04. Despite a challenging retail environment, revenue is forecasted to soar by 182.4% year-over-year to $615.8 million.
The brand's success is attributed to continuous product innovation and strong appeal among athletes and everyday consumers. ON has effectively balanced premium pricing with robust brand loyalty, translating into impressive sales and profit growth. Collaborations with tennis legend Roger Federer have also significantly boosted brand visibility and demand.
Summary
With strong market demand, growth initiatives, and a favorable business environment, Robinhood, ON Holding, and DraftKings are all set for triple-digit profit growth.
Additionally, their solid financial health scores indicate a strong foundation, enhancing their potential for continued success in the coming months.
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