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

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

Robinhood Markets Stock Performance

HOOD opened at $17.30 on Friday. The stock has a fifty day moving average of $17.83 and a 200-day moving average of $13.43. Robinhood Markets has a fifty-two week low of $7.91 and a fifty-two week high of $20.55. The company has a market capitalization of $15.13 billion, a P/E ratio of -28.83 and a beta of 1.74.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on HOOD. The Goldman Sachs Group lifted their price target on shares of Robinhood Markets from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Monday, April 15th. TheStreet upgraded Robinhood Markets from a “d+” rating to a “c-” rating in a report on Wednesday, February 28th. KeyCorp lifted their target price on Robinhood Markets from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. JMP Securities raised their price target on shares of Robinhood Markets from $28.00 to $30.00 and gave the stock a “market outperform” rating in a research note on Thursday. Finally, Piper Sandler boosted their price objective on shares of Robinhood Markets from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $19.35.

Insider Buying and Selling

In related news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $17.93, for a total transaction of $4,482,500.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $17.93, for a total transaction of $4,482,500.00. 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 Robinhood Markets stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $19.59, for a total transaction of $97,950.00. Following the completion of the transaction, the chief financial officer now directly owns 1,002,407 shares in the company, valued at $19,637,153.13. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,413,026 shares of company stock valued at $38,927,267. 20.81% of the stock is owned by company 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.