Streetbeat News

HOOD

Robinhood Markets, Inc.

Industry

Software - Infrastructure

Robinhood Markets, Inc. operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), options, gold, and cryptocurrencies. The company also offers various learning and education solutions comprise Snacks, a digest of business news stories; Learn, which is a collection of approximately articles, including guides, feature tutorials, and financial dictionary; Newsfeeds that offer access to free premium news from various sites, such as Barron's, Reuters, and The Wall Street Journal; lists and alerts, which allow users to create custom watchlists and alerts to monitor securities, ETFs, and cryptocurrencies, as well as cash management services; and offers First trade recommendations to all new customers who have yet to place a trade. Robinhood Markets, Inc. was incorporated in 2013 and is headquartered in Menlo Park, California.

Open

31.89

Mkt cap

29B

Volume

14M

High

32.35

P/E Ratio

55.72

52-wk high

34.32

Low

31.26

Div yield

N/A

52-wk low

7.92

Barclays analyst Ross Sandler has maintained an Underweight rating on Robinhood Markets (NASDAQ:HOOD) and lowered the price target from $11 to $10.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 2:07 pm

Venture capitalist Tim Draper, known for his early investments in tech companies, expressed regret for selling his stake in Tesla Inc (NASDAQ:TSLA) too early. Draper invested in Tesla's Series C funding round in 2006, four months before the company went public. He sold his stake under pressure from his investors to take profits. Had he held on to his Tesla investment, the return would have been 4000X. Draper's biggest win so far has been Robinhood Markets (NASDAQ:HOOD) with a 1000x return.

Portfolio Pulse from Chris Katje

October 06, 2023 | 8:16 pm

Venture capitalist Tim Draper discussed his views on artificial intelligence, Bitcoin, and his best investment returns in an interview. He expressed excitement about the potential of AI, particularly in education, and mentioned his investment in Otter.ai. Draper reiterated his belief that Bitcoin will reach $250,000, though he has adjusted his timeline for this prediction. He also highlighted the benefits of Bitcoin's decentralization and expects its adoption to increase. Draper's best investment return was from Robinhood Markets Inc, with a return of over 1000x.

Portfolio Pulse from Chris Katje

October 06, 2023 | 7:00 pm

Sam Bankman-Fried, former cryptocurrency magnate, has sued his insurer, Continental Casualty Company (CNA), for not covering his legal expenses related to his fraud defense. The lawsuit highlights his involvement in multiple legal and regulatory proceedings due to the downfall of his crypto platform, FTX (CRYPTO: FTT). Bankman-Fried has been incurring escalating legal expenses since the bankruptcy declaration of FTX in late 2022. He had indicated his openness to part with Robinhood (NASDAQ:HOOD) shares valued at approximately $500 million in exchange for access to FTX's D&O insurance coverage.

Portfolio Pulse from Murtuza Merchant

October 03, 2023 | 7:53 pm

Jim Cramer, host of CNBC's 'Mad Money Lightning Round', gave his opinions on several stocks. He praised Energy Transfer LP (ET) and Kratos Defense & Security Solutions, Inc. (KTOS), and noted that Palantir Technologies Inc. (PLTR) had a good quarter and lived up to its hype, with its shares up over 148% in 2023. He recommended Costco (COST) over Perrigo Company plc (PRGO). He criticized Robinhood Markets, Inc. (HOOD) for not being profitable and advised against investing in PacWest Bancorp (PACW), whose stock is down more than 66% year-to-date.

Portfolio Pulse from Priya Nigam

October 03, 2023 | 12:23 pm

Robinhood Markets Inc's CEO, Vladimir Tenev, discussed the company's potential to disrupt the financial services industry during a CNBC interview. Tenev highlighted Robinhood's competitive offerings, such as a 4.9% APY rate on uninvested cash, which outperforms U.S. banks' savings account rates. He also mentioned the company's plans to expand its services globally.

Portfolio Pulse from Aaron Bry

September 29, 2023 | 9:12 pm

Robinhood has stated that a certain expense was not included in its latest 2023 GAAP total operating expenses outlook of $2.33B-$2.41B, which was disclosed on August 2, 2023. The company has not provided an updated expense outlook but expects to do so when it reports results for Q3 2023.

Portfolio Pulse from Benzinga Newsdesk

September 29, 2023 | 9:01 pm

Robinhood Markets, Inc. is working to resolve certain historical legal and regulatory matters, as disclosed in its Form 10-Q filed on August 3, 2023. The company expects to accrue an expense of approximately $100M in Q3 2023.

Portfolio Pulse from Benzinga Newsdesk

September 29, 2023 | 9:01 pm

Kraken, a major player in the European crypto markets, has announced plans to offer trading in U.S.-listed stocks and ETFs starting in 2024. This marks the first time the company is stepping outside its usual crypto zone. The company is awaiting approvals for stock and ETF trading in the U.S. and U.K. markets. Kraken is set to compete with other players such as Robinhood Markets Inc (NASDAQ:HOOD) and Public.com, which already offer zero-commission services.

Portfolio Pulse from Khyathi Dalal

September 27, 2023 | 10:40 pm

Robinhood (NYSE:HOOD) is undergoing significant internal changes, including layoffs and team reorganizations, as it shifts its focus towards the credit card sector. The company's monthly active users and transaction-based revenues have decreased, and its shares have declined nearly 8.2% over the last month. Robinhood recently acquired the no-fee credit card startup X1 for $95 million, a move seen as a strategy to reverse the declining trend.

Portfolio Pulse from Nabaparna Bhattacharya

September 23, 2023 | 3:59 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.