Robinhood Markets (NASDAQ:HOOD) Issues Earnings Results

by · The Cerbat Gem

Robinhood Markets (NASDAQ:HOOD – Get Free Report) released its earnings results on Wednesday. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01), Briefing.com reports. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The business had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. During the same quarter in the previous year, the firm earned ($0.09) EPS. The firm’s revenue for the quarter was up 36.4% on a year-over-year basis.

Robinhood Markets Trading Down 17.3 %

HOOD stock traded down $4.88 during trading hours on Thursday, hitting $23.33. 36,722,137 shares of the stock traded hands, compared to its average volume of 15,497,907. The stock has a 50-day simple moving average of $23.32 and a 200 day simple moving average of $21.34. The company has a market cap of $20.64 billion, a P/E ratio of 72.27 and a beta of 1.84. Robinhood Markets has a one year low of $7.91 and a one year high of $28.58.

Analysts Set New Price Targets

HOOD has been the topic of several research reports. JMP Securities reiterated a “market outperform” rating and set a $30.00 price objective on shares of Robinhood Markets in a research note on Thursday, August 8th. The Goldman Sachs Group raised their price target on Robinhood Markets from $22.50 to $25.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Barclays upped their price objective on Robinhood Markets from $23.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Thursday. KeyCorp raised their target price on Robinhood Markets from $25.00 to $30.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Robinhood Markets from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Robinhood Markets has an average rating of “Hold” and an average target price of $25.17.

Read Our Latest Research Report on HOOD

Insiders Place Their Bets

In other news, Director Baiju Bhatt sold 143,944 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $18.73, for a total value of $2,696,071.12. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $16.05, for a total value of $4,012,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Baiju Bhatt sold 143,944 shares of Robinhood Markets stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $18.73, for a total value of $2,696,071.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,639,654 shares of company stock worth $110,241,632. 19.95% of the stock is owned by corporate 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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