Robinhood Markets (NASDAQ:HOOD) Issues Earnings Results

Robinhood Markets (NASDAQ:HOOD) 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.

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

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.