FMP
Robinhood Markets Shares Up 18% Since Q2 Earnings Announcement
Aug 4, 2022 11:08 PM - Davit Kirakosyan
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Robinhood Markets, Inc. (NASDAQ:HOOD) shares rose nearly 18% since the company’s reported Q2 results on Tuesday, with revenue of $318 million coming in better than the Street estimate of $315.89 million. Quarterly EPS was ($0.34), worse than the Street estimate of ($0.32).
Q2 adjusted EBITDA loss was $80 million, significantly improving from a $143 million loss in Q1. The analysts at Deutsche Bank view the company as being on a reasonably good path toward achieving profitability via cost cuts and higher net interest revenue, but many risks remain, including lower trading revenue and uncertain contribution from several growth initiatives.
The analysts raised their price target to $9 from $8, while reiterating their hold rating.
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