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

Robinhood Markets (NASDAQ:HOOD) released its quarterly earnings results on Wednesday. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $637.00 million during the quarter, compared to analyst estimates of $660.53 million. During the same period in the prior year, the business posted ($0.09) EPS. Robinhood Markets’s revenue was up 36.4% compared to the same quarter last year.

Robinhood Markets Trading Down 16.9 %

HOOD traded down $4.76 on Thursday, hitting $23.45. The company had a trading volume of 35,787,285 shares, compared to its average volume of 15,493,477. The firm has a market cap of $20.75 billion, a P/E ratio of 72.27 and a beta of 1.84. Robinhood Markets has a 1 year low of $7.91 and a 1 year high of $28.58. The company’s fifty day moving average price is $23.32 and its 200 day moving average price is $21.34.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total value of $241,625.00. Following the completion of the transaction, the insider now directly owns 1,045,068 shares of the company’s stock, valued at $20,201,164.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total transaction of $241,625.00. Following the completion of the transaction, the insider now directly owns 1,045,068 shares of the company’s stock, valued at approximately $20,201,164.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was 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. In the last ninety days, insiders have sold 4,639,654 shares of company stock worth $110,241,632. Company insiders own 19.95% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on HOOD. Needham & Company LLC reissued a “hold” rating on shares of Robinhood Markets in a research note on Thursday. Morgan Stanley raised their price objective on Robinhood Markets from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Bank of America raised their price objective on Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a report on Monday, August 12th. Barclays raised their price objective on Robinhood Markets from $23.00 to $26.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Piper Sandler raised their price objective on Robinhood Markets from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Monday, October 21st. 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’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.