Robinhood Markets (NASDAQ:HOOD) Posts Quarterly Earnings Results, Beats Estimates By $0.13 EPS

Robinhood Markets (NASDAQ:HOOD) announced its quarterly earnings results on Wednesday. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.13, Briefing.com reports. Robinhood Markets had a negative return on equity of 7.87% and a negative net margin of 29.01%. The business had revenue of $618.00 million for the quarter, compared to analysts’ expectations of $552.74 million. During the same period in the previous year, the firm earned ($0.57) EPS. The business’s quarterly revenue was up 40.1% on a year-over-year basis.

Robinhood Markets Stock Performance

Shares of Robinhood Markets stock traded down $0.67 during trading on Thursday, reaching $17.18. The company had a trading volume of 38,773,286 shares, compared to its average volume of 14,359,206. The company has a market cap of $15.02 billion, a price-to-earnings ratio of -29.17 and a beta of 1.74. The firm’s fifty day moving average is $17.82 and its 200-day moving average is $13.40. Robinhood Markets has a fifty-two week low of $7.91 and a fifty-two week high of $20.55.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on HOOD shares. JMP Securities raised their price target on Robinhood Markets from $25.00 to $28.00 and gave the company a “market outperform” rating in a report on Tuesday, April 9th. Mizuho boosted their target price on Robinhood Markets from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Monday. JPMorgan Chase & Co. boosted their price objective on Robinhood Markets from $10.00 to $12.00 and gave the company an “underweight” rating in a report on Wednesday, February 14th. Piper Sandler upped their target price on Robinhood Markets from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, The Goldman Sachs Group increased their price target on Robinhood Markets from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Monday, April 15th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $19.19.

Insider Activity

In other Robinhood Markets news, CFO Jason Warnick sold 5,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $12.00, for a total value of $60,000.00. Following the completion of the transaction, the chief financial officer now owns 916,267 shares in the company, valued at approximately $10,995,204. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Vladimir Tenev sold 500,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $15.12, for a total value of $7,560,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jason Warnick sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $12.00, for a total transaction of $60,000.00. Following the completion of the sale, the chief financial officer now owns 916,267 shares of the company’s stock, valued at approximately $10,995,204. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,413,026 shares of company stock worth $38,927,267. 20.81% of the stock is currently owned by corporate 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.