Robinhood Likely To Report Higher Q2 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Robinhood Markets, Inc. HOOD is set to release earnings results for its second quarter, before the opening bell on Aug. 7, 2024.

Analysts expect the Menlo Park, California-based company to report quarterly earnings at 15 cents per share, up from 3 cents per share in the year-ago period. Robinhood is projected to report quarterly revenue of $643.34 million, according to data from Benzinga Pro.

On Monday, Robinhood announced the suspension of its 24-hour trading service due to a problem at its third-party execution venue.

Robinhood shares gained 4.8% to close at $17.21 on Tuesday.

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 have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.

• Citigroup analyst Christopher Allen upgraded the stock from Sell to Neutral with a price target of $18 on Aug. 5. This analyst has an accuracy rate of 75%.
• Barclays analyst Benjamin Budish maintained an Underweight rating and raised the 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 boosted the 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 with a price target of $30 on June 12. This analyst has an accuracy rate of 78%.
• Needham analyst John Todaro reiterated a Hold rating on June 6. This analyst has an accuracy rate of 81%.

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