Robinhood Markets, Inc. (HOOD) shares have surged 30% since the beginning of this month and touched a 52-week high of $30.63 during Friday’s trading session. Over the past three months, the stock has surged 64.7%, outperforming the industry, the S&P 500 Index and its close peers — The Charles Schwab Corporation (SCHW) and LPL Financial Holdings Inc. (LPLA) .Three-Month Price PerformanceImage Source: Zacks Investment ResearchDoes HOOD stock have more upside left despite hitting a 52-week high? Let’s try to d ...

MENLO PARK, Calif., Nov. 07, 2024 (GLOBE NEWSWIRE) -- November 7, 2024 (GLOBE NEWSWIRE) – Robinhood Markets, Inc. (“Robinhood”) (NASDAQ: HOOD) today announced that it will be participating in the upcoming Wolfe Research Wealth Symposium on Wednesday, November 13, 2024. Robinhood Chief Financial Officer Jason Warnick is scheduled to present on Wednesday, November 13, 2024, at 11:45 AM ET / 8:45 AM PT. Interested parties may access a live audio webcast of the presentation by visiting investors.robinhood.com. ...

Robinhood's earnings weren't great, but they didn't deserve the market's reaction.Robinhood (HOOD 17.87%) jumped on Wednesday, but the bigger move came last week after the company reported earnings. The report wasn't great, but investors should look at the company's long-term potential, which Travis Hoium covers in this video.*Stock prices used were end-of-day prices of Nov. 5, 2024. The video was published on Nov. 5, 2024. ...

Robinhood（HOOD）24Q3 业绩点评 24Q3 收入和利润不及预期，10 月入金和交易趋势向好 2024 年 11 月 01 日 | --- | --- | --- | --- | |-----------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ ...

Investment Rating - The report maintains a "Buy" rating for Robinhood (HOOD) [2][3] Core Insights - The Q3 performance of Robinhood was below expectations, with revenue of $637 million, a year-over-year increase of 36% but a quarter-over-quarter decrease of 7%. The GAAP net profit was $150 million, marking a return to profitability. The company expects to maintain its annual expense guidance of $1.85 to $1.95 billion [3][7] - Despite the overall performance being below market expectations, several operational metrics showed strong growth, including assets under custody reaching a new high of $152.2 billion, a year-over-year increase of 76% and a quarter-over-quarter increase of 6%. The number of Gold members reached 2.19 million, with a subscription rate of 9% [3][9] - October data trends are promising, with net inflows exceeding $4 billion, stock trading volumes hitting a three-year high, and cryptocurrency trading volumes expected to exceed $5 billion, indicating a strong foundation for Q4 performance [3][12] Summary by Sections Financial Performance - In Q3 2024, Robinhood reported revenue of $637 million, a year-over-year increase of 36% and a quarter-over-quarter decrease of 7%. The GAAP net profit was $150 million, with an EPS of $0.17, which was below market expectations. The company also indicated a continued guidance for annual expenses between $1.85 billion and $1.95 billion [3][8][7] Operational Metrics - The assets under custody reached $152.2 billion, reflecting a year-over-year growth of 76% and a quarter-over-quarter growth of 6%. The average assets per funded customer increased to $6,300. The number of Gold subscribers was 2.19 million, with a subscription rate of 9% and a monthly active user count of 11 million, representing a year-over-year growth of 7% [3][9][11] Future Outlook - The report projects revenues for 2024, 2025, and 2026 to be $2.6 billion, $3.4 billion, and $4.0 billion respectively, with GAAP net profits of $691 million, $1.3 billion, and $1.7 billion. The corresponding P/E ratios are expected to be 30.6x, 16.1x, and 12.5x. The continuous development phase and product upgrades support a positive outlook for Robinhood's future performance [3][15][6]

Key TakeawaysRobinhood shares plunged Thursday after the online brokerage company missed Wall Street’s quarterly revenue expectations due to a customer promotion program.The stock broke out above the top trendline of an ascending triangle earlier this month, though the recent bullish price momentum came to a halt after the company's third-quarter results.Investors should watch important support levels on Robinhood's chart around $24, $22, and $20.50.The measuring principle, which calculates the depth of an ...

About this content About Josh Lamb After graduating from the University of Kent in the summer of 2022 with a degree in History, Josh joined Proactive later that year as a journalist in the UK editorial team. Josh has reported on a range of areas whilst at Proactive, including energy companies during a time of global crisis, aviation and airlines as the sector recovers from the pandemic, as well as covering economic, social and governance issues. Read more About the publisher Proactive financial news and ...

Key TakeawaysRobinhood Markets missed third-quarter earnings and revenue estimates because of promotions to gain new customers.The online brokerage expects the costs for promotions to grow in the current quarter.Shares of Robinhood Markets fell 15% Thursday morning but are still up almost 90% this year. Robinhood Markets (HOOD) shares sank 15% Thursday, a day after the online brokerage posted worse-than-expected results as a promotion to get more customers impacted performance. The company posted third-quar ...

For the quarter ended September 2024, Robinhood Markets, Inc. (HOOD) reported revenue of $637 million, up 36.4% over the same period last year. EPS came in at $0.17, compared to -$0.09 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $661.21 million, representing a surprise of -3.66%. The company delivered an EPS surprise of -5.56%, with the consensus EPS estimate being $0.18. While investors closely watch year-over-year changes in headline numbers -- revenue and ear ...

Financial Data and Key Metrics - Q3 net deposits were $10 billion for the third consecutive quarter, bringing year-to-date net deposits to $34 billion, surpassing the 2020 record of $31 billion [8] - Customer assets under custody reached a record high of $152 billion, up 76% year-over-year [15] - Q3 revenues grew 36% year-over-year to $637 million, with adjusted EBITDA nearly doubling to $268 million and adjusted EBITDA margins expanding by 13 points to 42% [16] - Net income for Q3 was $150 million, or $0.17 per share, marking the fourth straight quarter of GAAP profitability [16] - Year-to-date revenues of nearly $2 billion have already surpassed last year's record of $1.9 billion, with GAAP diluted EPS of $0.55 [9] Business Line Performance - Transaction-based revenues grew 72% year-over-year, driven by higher volumes and market share gains across all trading products [17] - Options contracts increased 47% year-over-year, equity volumes rose 65%, and crypto volumes surged over 100% [17] - Net interest revenues increased 9% due to growth in interest-earning assets and improved securities lending activity [17] - Other revenues grew 42%, driven by a record 2.2 million Robinhood Gold subscribers, contributing over $110 million in annualized recurring revenue [18] Market Performance - Robinhood Gold subscriptions hit an all-time high of 2.2 million in Q3, with the Gold card showing strong customer retention rates of approximately 95% [10][12] - The company's crypto rebates increased to 48 basis points in October, up from 44 basis points in Q3 and 35 basis points at the start of the year [25] - The presidential election market saw over 10 million contracts traded on its first full day, with strong customer engagement [28] Strategic Direction and Industry Competition - Robinhood's strategy focuses on winning the active trader market, increasing wallet share, and expanding internationally [7] - The company launched Robinhood Legend, a state-of-the-art desktop platform, doubling its addressable market by targeting web-based traders [29][30] - New products like Index Options and Futures are expected to significantly expand the company's market share and revenue potential [27][28] - The company is scaling its Robinhood Gold card rollout cautiously to manage credit risk while meeting high customer demand [33] Management Commentary on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to scale the Gold card significantly over time, citing strong customer feedback and behavior [13] - The company is focused on driving profitable growth, with expectations to finish near the top end of its full-year adjusted OpEx and SBC outlook range of $1.85 billion to $1.95 billion [21] - Management highlighted the strong momentum in October, with net deposits exceeding $4 billion and cash suite balances surpassing $25 billion [24] Other Important Information - The company initiated a $1 billion share repurchase program in July, repurchasing 5 million shares in Q3 and deploying over $700 million to repurchase approximately 60 million shares year-to-date [22][23] - Robinhood is winding down its 1% gold deposit boost promotion in November to focus on more effective customer acquisition strategies [19][20] Q&A Session Summary Questions and Answers - **Robinhood Gold Card Rollout**: The Gold card waitlist is close to 2 million, with 100,000 customers onboarded so far. The company plans to scale the card to multiples of its current level over the next year [32][33] - **Money Transfer Feature**: While the focus is on scaling the Gold card, the company is considering expanding offerings to include peer-to-peer money transfers in the future [34] - **Impact of Rate Cuts on Robinhood Gold**: The company is investing in new benefits for Gold subscribers, such as differentiated pricing on Index Options and Futures, to maintain value in a declining rate environment [36][37] - **Tax Gain and Loss Monitoring**: Robinhood has launched a realized P&L tool and is beta testing tax lot selection features, with plans to roll them out to customers soon [39] - **Robinhood Legend Desktop Platform**: Early feedback on the new desktop platform is extremely positive, with high engagement from active traders [43][44] - **Presidential Election Market**: The election market saw strong customer engagement, with over 10 million contracts traded on its first full day [46][48] - **Index Options and Futures Economics**: Index options are priced at $0.50 per contract for non-Gold users and $0.35 for Gold users, while Futures are priced at $0.75 and $0.50, respectively. These products are expected to contribute significantly to revenue growth [52][53] - **Interest Rate Sensitivity**: Each 25 basis point rate cut impacts the company by approximately $40 million, but falling rates are expected to drive higher trading activity and margin utilization [61][65] - **Product Rollout Strategy**: The company is cautious with product rollouts, particularly for the Gold card, to manage credit risk and ensure profitability [69][70] - **Crypto Rebates**: Crypto rebates increased to 48 basis points in October, reflecting the company's focus on balancing customer pricing and shareholder returns [72] - **Deposit Trends and Promotions**: Recent promotional offers, such as the Hood Week promotion, brought in $2 billion in deposits, with payback periods of around one year for 1% matches and two to three years for retirement matches [80][82] - **Election-Related Event Contracts**: The company views event contracts as a way to offer innovative products to active traders and provide reliable market predictions [85]