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

Robinhood Markets (NASDAQ:HOOD) announced its quarterly earnings data on Wednesday. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01), Briefing.com reports. The company had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.61%. The company’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.09) EPS.

Robinhood Markets Trading Up 2.0 %

Shares of HOOD opened at $23.97 on Friday. Robinhood Markets has a 12 month low of $7.91 and a 12 month high of $28.58. The stock has a fifty day moving average price of $23.44 and a 200-day moving average price of $21.40. The firm has a market cap of $21.21 billion, a PE ratio of 40.63 and a beta of 1.84.

Insider Activity at Robinhood Markets

In related news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $16.05, for a total value of $4,012,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Robinhood Markets news, Director Baiju Bhatt sold 143,944 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $18.73, for a total transaction of $2,696,071.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $16.05, for a total value of $4,012,500.00. The disclosure for this sale can be found here. Insiders have sold 4,639,654 shares of company stock valued at $110,241,632 in the last ninety days. Corporate insiders own 19.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on HOOD shares. Bank of America increased their price objective on Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. JMP Securities raised their price target on Robinhood Markets from $30.00 to $33.00 and gave the company a “market outperform” rating in a research note on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of Robinhood Markets in a research note on Thursday. Piper Sandler increased their target price on shares of Robinhood Markets from $27.00 to $30.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $25.17.

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.