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

Despite a Q2 drop in crypto revenue, Robinhood's CEO Vlad Tenev confirmed the company's continued investment in the cryptocurrency market. The company's recent launches of Robinhood Wallet and Robinhood Connect have been successful. However, Robinhood's revenue from cryptocurrency transactions declined by 18% to $31 million. The company's transaction revenue was $193 million, down 7% quarter-over-quarter, and equity-related revenue was $25 million, down 7% year-over-year.

Portfolio Pulse from Mehab Qureshi

August 04, 2023 | 12:34 pm

The stock market experienced significant fluctuations with the Nasdaq closing lower by over 300 points and the S&P 500 down 1.38%. Despite this, several companies posted upbeat earnings. PayPal, Robinhood, Shopify, Apple, and Tesla were the top stocks that gained the attention of retail traders and investors. PayPal and Robinhood beat earnings estimates, while Shopify's stock slid on Q2 results. Apple analysts remain upbeat ahead of the company's third-quarter print. Tesla shares traded lower amid overall market weakness and after Fitch downgraded the rating of U.S. treasuries.

Portfolio Pulse from Benzinga Neuro

August 04, 2023 | 12:33 pm

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 12:27 pm

Robinhood Markets Inc (NASDAQ:HOOD) reported Q2 revenue of $486 million, up 53% YoY and 10% QoQ, beating the Street estimate of $475 million. The company reported transaction revenue of $193 million, down 7% QoQ. Cryptocurrency related revenue was down 18% QoQ to $31 million. Equity related revenue was $25 million, down 7% YoY. Net interest revenue was up 13% YoY to $234 million. The company reported 23.2 million funded accounts, up by around 70,000 sequentially. Monthly active users were 10.8 million for the second quarter, down by around 1 million accounts. The company ended the quarter with $89 billion assets under custody, down 13% QoQ. The company reported a profitable Q2 with earnings per share of 3 cents, beating a Street estimate of a loss of 2 cents per share.

Portfolio Pulse from Chris Katje

August 04, 2023 | 12:13 pm

Robinhood Markets (NASDAQ:HOOD) reported Q2 earnings of $0.03 per share, beating the analyst consensus estimate of $(0.02) by 250 percent. This is a 108.82 percent increase over losses of $(0.34) per share from the same period last year. The company also reported quarterly sales of $486.00 million, beating the analyst consensus estimate of $475.02 million by 2.31 percent, a 52.83 percent increase over sales of $318.00 million the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 12:06 pm

Financial stocks are trading lower due to negative market sentiment following Fitch's downgrade of the U.S. long-term credit rating.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 12:02 pm

Robinhood Markets, Inc (NASDAQ:HOOD) is set to release its Q2 earnings after the markets close on Wednesday. In Q1, Robinhood reported a loss of 57 cents per share, beating the consensus estimate of a loss of 61 cents per share. For Q2, analysts estimate a loss of 2 cents per share on revenues of $475.02 million. The stock's performance will depend on whether Robinhood was able to continue attracting active users and adding funded accounts.

Portfolio Pulse from Melanie Schaffer

August 04, 2023 | 11:59 am

Robinhood Markets Inc (NASDAQ:HOOD) is set to release its Q2 earnings after the closing bell on Wednesday. The company is expected to report a loss of 2 cents per share on revenues of $475.02 million, a 49.38% YoY increase but a 9.6% decline from the previous quarter. The Federal Reserve's interest rate hike is predicted to have boosted the company's net interest income (NII), with estimates standing at $230 million. Transaction-based revenues are estimated to reach $187.1 million.

Portfolio Pulse from AJ Fabino

August 04, 2023 | 11:55 am

Robinhood Markets (NASDAQ:HOOD) is set to release its latest quarterly earnings report on August 2, 2023. Analysts estimate an earnings per share (EPS) of $-0.02. The company's past performance shows a pattern of beating EPS estimates, which has often led to an increase in share price. Currently, shares are trading at $12.86, up 22.89% over the last 52-week period.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 9:05 am

Ark Invest, led by Cathie Wood, sold shares of Robinhood Markets Inc (HOOD) and Coinbase Global Inc (COIN) while increasing its stake in Pinterest Inc (PINS). The firm also bought shares of MercadoLibre Inc (MELI) and AvidXchange Holdings Inc (AVDX), and sold shares of Iovance Biotherapeutics Inc (IOVA). The trades were made through Ark Fintech Innovation ETF (ARKF) and ARK Next Generation Internet ETF (ARKW).

Portfolio Pulse from Benzinga Neuro

August 01, 2023 | 2:11 am

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