Robinhood Likely to Report Higher Second-Quarter Earnings; Here Are the Latest Forecast Changes from Wall Street’s Most Accurate Analysts – Robinhood Markets (NASDAQ:HOOD)

Robinhood Markets, Inc. HOOD intends to release its second-quarter financial results before the open of trading on August 7, 2024.

Analysts expect the Menlo Park, California-based company to report quarterly earnings of 15 cents per share, compared with 3 cents per share in the same period a year earlier. Robinhood is expected to report quarterly revenue of $643.34 million, according to Benzinga Pro data.

On Monday, Robinhood announced the suspension of its 24-hour trading service due to a problem with its external order execution system.

Robinhood shares rose 4.8% to close Tuesday at $17.21.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change, or other variables.

Let’s take a look at how Benzinga’s most accurate analysts assessed its recent performance.

• Citigroup analyst Christopher Allen upgraded the stock from Sell to Neutral with an $18 price target on Aug. 5. This analyst has an accuracy rate of 75%.
• Barclays analyst Benjamin Budish maintained an “Underweight” rating and raised his price target from $18 to $20 on July 10. This analyst has an accuracy rate of 74%.
• Piper Sandler analyst Pattrick Moley maintained a Neutral rating and raised his price target from $18 to $20 on July 9. This analyst has an accuracy rate of 71%.
• JMP Securities analyst Devin Ryan reiterated a Market Outperform forecast on June 12 with a $30 price target. The analyst’s forecast accuracy is 78%.
• Needham analyst John Todaro reiterated a “hold” rating on June 6. This analyst’s accuracy rate is 81%.

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