Robinhood Markets (NASDAQ:HOOD – Get Free Report) posted its quarterly earnings results on Wednesday. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01), Briefing.com reports. The company had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. The company’s revenue for the quarter was up 36.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.09) earnings per share.
Robinhood Markets Stock Down 16.9 %
Shares of Robinhood Markets stock traded down $4.76 during midday trading on Thursday, hitting $23.45. The company had a trading volume of 35,787,285 shares, compared to its average volume of 15,493,477. The stock has a market cap of $20.75 billion, a price-to-earnings ratio of 72.27 and a beta of 1.84. The company has a fifty day simple moving average of $23.32 and a 200 day simple moving average of $21.34. Robinhood Markets has a 12-month low of $7.91 and a 12-month high of $28.58.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on HOOD shares. Needham & Company LLC restated a “hold” rating on shares of Robinhood Markets in a report on Thursday. Citigroup upped their price target on shares of Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. Barclays increased their target price on shares of Robinhood Markets from $23.00 to $26.00 and gave the stock an “equal weight” rating in a report on Thursday. The Goldman Sachs Group increased their target price on shares of Robinhood Markets from $22.50 to $25.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Finally, KeyCorp increased their target price on shares of Robinhood Markets from $25.00 to $30.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $25.17.
Insider Activity at Robinhood Markets
In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $16.05, for a total transaction of $4,012,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $16.05, for a total transaction of $4,012,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Baiju Bhatt sold 143,944 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $18.73, for a total transaction of $2,696,071.12. The disclosure for this sale can be found here. Insiders sold 4,639,654 shares of company stock valued at $110,241,632 in the last three months. 19.95% of the stock is owned by insiders.
About Robinhood Markets
Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. The company offers fractional trading, recurring investments, fully-paid securities lending, access to investing on margin, cash sweep, instant withdrawals, retirement program, around-the-clock trading, and initial public offerings participation services.
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