1 week Ago By Investing.com
Robinhood (NASDAQ: HOOD ) shares rose Thursday on the back of its latest earnings release, which saw it top earnings and revenue expectations. The brokerage reported Q1 earnings of $0.18 per share, $0.
13 better than the analyst estimate of $0.05 per share . Revenue for the quarter came in at $618 million versus the consensus estimate of $543.
14 million. Here's how analysts reacted: Bank of America (NYSE: BAC ) lifted its price target for the stock to $14 from $13 per share, maintaining an Underperform rating. The bank said: "HOOD reported a better-than-expected record EPS of $0.
18 (vs. $0.06 BofA + consensus) driven by a large uptick in transaction-based revenues (+31% q/q) namely from options and crypto volumes as well as better than expected expense discipline .
" Bernstein kept its Outperform rating and $30 price target on the stock. The firm declared: "Crypto is back." They added: "We continue to believe, buy-side and sell-side alike, still refuse to see what we see - a monster of a crypto comeback cycle over 2024-25.
" Piper Sandler kept its Neutral rating and $18 target on HOOD shares. "HOOD posts strong top & bottom line GAAP earnings beat. HOOD reported GAAP EPS of $0.
18 per share, beating our $0.08 est. & consensus at $0.
06," they wrote. "Stronger than expected Transaction revs (particularly in Crypto) drove an 8% ($45M) beat to our Total Revenue estimate." JMP Securities maintained its Market Outperform rating and $30 target on the stock.
"We expect further accelerati.
