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

SEC chair Gary Gensler has expressed concern over the potential impact of AI on financial markets, suggesting that reliance on a few foundational models could lead to future financial crises. He also questioned whether AI tools on trading apps like Robinhood prioritize the investor. Gensler emphasized that the responsibility for any flawed financial advice given by AI chatbots rests with investment advisers.

Portfolio Pulse from AJ Fabino

August 07, 2023 | 3:04 pm

Mizuho analyst Dan Dolev has maintained a 'Buy' rating on Robinhood Markets (NASDAQ:HOOD) and raised the price target from $14 to $15.

Portfolio Pulse from jenniferd'souza@benzinga.com

August 07, 2023 | 1:00 pm

Ark Invest, led by Cathie Wood, has purchased 933,663 shares of Robinhood Markets, Inc. (NASDAQ:HOOD) across its three funds, ARK Innovation ETF (NYSE:ARKK), Ark Fintech Innovation ETF (NYS: ARKF) and Ark Next Generation Internet ETF (NYSE:ARKW), totaling $10.66 million. This comes as Alphabet, Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG) significantly reduced its stake in Robinhood.

Portfolio Pulse from Shanthi Rexaline

August 05, 2023 | 7:51 pm

The major stock indexes experienced a down week, with the Nasdaq, S&P, and Dow falling by roughly 2.9%, 2.3%, and 1.1% respectively. Fitch Ratings lowered the U.S. government's credit rating from AAA to AA+. Despite this, the job market remained robust with the unemployment rate dropping to 3.5%. Tesla, Inc. (TSLA) was suggested to buy Uber Technologies, Inc. (UBER) to capitalize on autonomous ride-hailing. Robinhood Markets, Inc. (HOOD), Uber, and Wayfair Inc. (W) achieved unexpected profitability in Q2. X, formerly Twitter, is exploring the possibility of building a trading hub for cryptocurrencies. Ford Motor Co's (F) Q2 revenue surge overshadowed a $4.5 billion loss in EV. BlackRock Inc (BLK) and MSCI Inc (MSCI) are under scrutiny for allegedly channeling investments into Chinese companies accused of human rights violations. JPMorgan Chase & Co (JPM) CEO Jamie Dimon expressed heightened concern over fiscal spending, quantitative tightening, and the Ukraine crisis.

Portfolio Pulse from Michael Cohen

August 05, 2023 | 1:20 pm

The S&P 500 dropped after Fitch Ratings downgraded the US government's credit rating from AAA to AA+. Treasury yields reached a nine-month high, causing investors to sell equity assets in favor of bonds. Apple's shares fell due to a drop in iPhone sales, while Amazon's shares climbed to a 12-month high after reporting strong Q2 profits. Robinhood, Qualcomm, and PayPal also saw a decrease in share prices, while Starbucks' shares rose due to increased sales in China. Next week, earnings reports from Lucid Group, Eli Lilly and Company, AMC Entertainment, Fox Corp, United Parcel Service, The Walt Disney Company, Sony Group, Alibaba Group, and Novo Nordisk will be closely watched.

Portfolio Pulse from Natan Ponieman

August 04, 2023 | 8:28 pm

Morgan Stanley analyst Michael Cyprys has reiterated an Equal-Weight rating on Robinhood Markets (NASDAQ:HOOD) and maintained a $13 price target.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 7:09 pm

Over the past 3 months, 12 analysts have published their opinion on Robinhood Markets (NASDAQ:HOOD) stock. The average price target for the stock is $14.71, with a high of $25.00 and a low of $9.00. This average price target has increased by 42.4% over the past month.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 3:15 pm

Keybanc analyst Josh Beck maintains an Overweight rating on Robinhood Markets (NASDAQ:HOOD) and raises the price target from $12 to $14.

Portfolio Pulse from richadhand@benzinga.com

August 04, 2023 | 2:53 pm

Ark Invest, led by Cathie Wood, has purchased $5.6 million worth of Robinhood shares following the company's first profitable quarter. The shares were distributed across Ark's Fintech Innovation ETF, Innovation ETF, and Next Generation Internet ETF. Other trades included purchases of Pacific Biosciences, Adaptive Biotechnologies, Accolade Inc, Intellia Therapeutics, and Teradyne shares for various Ark ETFs.

Portfolio Pulse from Benzinga Neuro

August 04, 2023 | 2:50 pm

A new app called 'Bad Trader', owned by IG Group Holdings ADR (OTC:IGGHY), is targeting young investors with a focus on community, speculation, and calculated risk-taking. The app, which is directly competing with Robinhood Markets Inc (NASDAQ:HOOD) and eToro, offers live streams and chat rooms to help users understand when to take calculated risks. The app is available on both iOS and Android platforms.

Portfolio Pulse from AJ Fabino

August 04, 2023 | 2:44 pm

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