Robinhood Markets Stock Is Ripping Higher Wednesday: What's Going On?
Portfolio Pulse from Adam Eckert
Robinhood Markets Inc (NASDAQ:HOOD) shares surged after reporting strong quarterly results, including a surprise profit. Q4 revenue rose 24% year-over-year to $471 million, surpassing estimates. Earnings were at 3 cents per share, beating expectations for a loss. Transaction-based revenues increased, with notable growth in cryptocurrency and equities. The company also highlighted strong interest in Bitcoin ETFs and plans for growth investments and international expansion in 2024. Keybanc raised its price target for HOOD from $14 to $15.

February 14, 2024 | 1:45 pm
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POSITIVE IMPACT
Robinhood's stock surged following a strong quarterly report, beating revenue and EPS estimates with plans for further growth and international expansion.
The positive earnings report and the announcement of future growth investments and international expansion are likely to boost investor confidence in Robinhood, leading to a short-term positive impact on its stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100