Robinhood Markets (NASDAQ:HOOD) Posts Earnings Results, Misses Estimates By $0.01 EPS

Robinhood Markets (NASDAQ:HOODGet 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.

Check Out Our Latest Research Report on HOOD

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

(Get Free Report)

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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Earnings History for Robinhood Markets (NASDAQ:HOOD)

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