Robinhood set to report highest quarterly revenue since meme stock frenzy [Reuters]
Robinhood Markets, Inc. - Class A (HOOD)
Company Research
Source: Reuters
May 7 (Reuters) - Trading app Robinhood Markets is expected to report its highest quarterly revenue in nearly three years, helped by a steady rebound in equity markets and crypto trading. Bets on global interest rate cuts sent U.S. stocks and bitcoin to record highs earlier this year and , helping the retail investor-focused brokerage earn more transaction-based revenue. Robinhood, at the heart of the meme stock frenzy in 2021, is bouncing back from a slowdown in retail trading activity that followed the pandemic-led trading activity surge. "In the core business, we saw a significant rebound in volumes this quarter across equities, options and crypto with total volumes up nearly 20% in Q1 through February reported metrics," J.P.Morgan analysts said. The strong retail trading activity sent Robinhood's shares up 58% in the first three months of the year, the sharpest quarterly stock surge since its listing. THE CONTEXT Data from research firm Apptopia showed daily active us
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HOOD
News
- Robinhood Stock Soared Over 20% This Week -- Here's Why [Yahoo! Finance]Yahoo! Finance
- Robinhood Soars on Double Upgrade From Long-Time Bearish Analyst [Yahoo! Finance]Yahoo! Finance
- Robinhood Soars on Double Upgrade From Long-Time Bearish Analyst [BNN Bloomberg (Canada)]BNN Bloomberg
- Robinhood Markets, Inc. (NASDAQ: HOOD) was upgraded by analysts at Bank of America Co. from an "underperform" rating to a "buy" rating. They now have a $24.00 price target on the stock, up previously from $14.00.MarketBeat
- Robinhood Markets, Inc. (NASDAQ: HOOD) had its "market outperform" rating re-affirmed by analysts at JMP Securities. They now have a $30.00 price target on the stock.MarketBeat
HOOD
Earnings
- 5/8/24 - Beat
HOOD
Sec Filings
- 5/17/24 - Form 4
- 5/15/24 - Form 144
- 5/14/24 - Form 4
- HOOD's page on the SEC website