Robinhood Markets Inc (NASDAQ:HOOD) reported upbeat earnings and sales results for its second quarter.
Robinhood reported second-quarter revenue of $486 million, which was up 53% year-over-year and up 10% quarter-over-quarter. The revenue total beat a Street estimate of $475 million. The company reported second-quarter earnings per share of 3 cents, which beat a Street estimate of a loss of 2 cents per share.
The company now sees full-year expenses in a range of $2.33 billion to $2.41 billion.
Robinhood shares fell 4.7% to $11.85 in pre-market trading.
These analysts made changes to their price targets on Robinhood following earnings announcement.
- Barclays raised the price target on Robinhood from $10 to $11. Barclays analyst Ross Sandler maintained an Underweight rating.
- Citigroup increased the price target on Robinhood from $10 to $12. Citigroup analyst Christopher Allen maintained a Neutral rating.
Check This Out: Apple, Amazon And 3 Stocks To Watch Heading Into Thursday
