Robinhood Analysts Raise Their Forecasts After Upbeat Q2 Earnings
Portfolio Pulse from Lisa Levin
Robinhood Markets Inc (NASDAQ:HOOD) reported Q2 earnings and sales results that beat Street estimates. The company's revenue was $486 million, up 53% YoY and 10% QoQ. The EPS was 3 cents, beating the estimated loss of 2 cents per share. However, Robinhood shares fell 4.7% in pre-market trading. Analysts from Barclays and Citigroup revised their price targets for Robinhood following the earnings announcement.
August 04, 2023 | 1:08 pm
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Robinhood's Q2 earnings beat estimates, but its shares fell in pre-market trading. Analysts revised their price targets.
Despite beating earnings estimates, Robinhood's stock fell, indicating that the market had different expectations. The revised price targets by analysts could influence the stock's movement.
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