Robinhood Delivers 'Solid End To 2023': 5 Analysts Comment On Q4 Print, Outlook
Portfolio Pulse from Priya Nigam
Robinhood Markets Inc (NASDAQ:HOOD) shares rose in premarket trading following upbeat Q4 results, surpassing expectations in revenues and adjusted EBITDA. Analysts from KeyBanc Capital Markets, Piper Sandler, JMP Securities, Mizuho Securities, and Needham provided positive comments, highlighting strong transaction revenue led by crypto and options trading, solid net deposit trends, and growth in Robinhood Gold subscribers. Price targets were adjusted accordingly, reflecting optimism for the company's performance and outlook for 2024.
February 14, 2024 | 3:01 pm
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Robinhood's Q4 results exceeded expectations with significant revenue and adjusted EBITDA beats, driven by strong transaction revenue from crypto and options trading. Analysts are optimistic, raising price targets and highlighting growth in Robinhood Gold subscribers and net deposit trends.
The positive Q4 results and optimistic analyst ratings, especially regarding transaction revenue growth and net deposit trends, suggest a strong short-term bullish sentiment for HOOD. The adjustments in price targets by multiple analysts further reinforce the positive outlook, likely influencing investor sentiment and stock price positively in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100