Robinhood Markets Stock Is Sliding: What's Going On?
Portfolio Pulse from Adam Eckert
Robinhood Markets Inc (NASDAQ:HOOD) reported Q2 financial results, beating estimates with $486 million in revenue and 3 cents EPS. However, the company's shares are trading lower. Total net revenues increased 53% YoY and 10% sequentially, while transaction-based revenues fell 7% QoQ. The company ended the quarter with $5.8 billion in cash and equivalents. Barclays and Citigroup analysts maintained their ratings but raised the price target for Robinhood.
August 04, 2023 | 1:26 pm
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NEGATIVE IMPACT
Robinhood's Q2 results beat estimates but its shares are trading lower. Analysts from Barclays and Citigroup raised their price targets.
Despite beating Q2 estimates, Robinhood's shares are trading lower. This could be due to the decrease in transaction-based revenues and the decrease in monthly active users. However, the raised price targets by Barclays and Citigroup analysts could potentially have a positive impact in the future.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100