Robinhood Soars on Double Upgrade From Long-Time Bearish Analyst [BNN Bloomberg (Canada)]
Robinhood Markets, Inc. - Class A (HOOD)
Company Research
Source: BNN Bloomberg
Analysts led by Craig Siegenthaler raised their recommendation on the online brokerage to buy from underperform, saying rising retail engagement and accelerating organic growth will drive 2025-26 earnings up. “Following the emergence of a new bull market last year, we have monitored a rebound in multiple metrics at Robinhood Markets and we expect this to continue through 2026,” Siegenthaler wrote in a note on Friday. He has been bearish on the stock since he initiated coverage of the company in late 2021 after it debuted in the public markets. Shares of the Menlo Park, California-based company have rallied 23% this week, putting them on track for their best week of 2024. The rally has been partly due to retail traders turning to its platform to partake in the latest meme stock frenzy at the start of the week. However, the stock has been challenged for most of the three years it has been public, the analyst wrote. Retail engagement peaked in 2021, then declined significantly thr
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HOOD
Earnings
- 5/8/24 - Beat
HOOD
Sec Filings
- 6/6/24 - Form 4
- 6/6/24 - Form 4
- 6/5/24 - Form 4
- HOOD's page on the SEC website