Robinhood Markets, Inc. is a Menlo Park, California-based American financial services firm that allows commission-free trading of stocks, exchange-traded funds, and cryptocurrencies, as well as individual retirement plans, using a mobile app launched in March 2015. Robinhood is a FINRA-regulated broker-dealer that is also registered with the SEC and a member of the Securities Investor Protection Corporation. The company’s revenue is generated primarily by three sources: interest on client cash balances, selling order information to high-frequency traders, and margin lending. Robinhood had 22.8 million funded accounts and 15.9 million monthly active users as of March 2022. Robinhood launched a cryptocurrency wallet for over 2 million customers in April 2022.
Vladimir Tenev and Baiju Bhatt, who had previously constructed high-frequency trading platforms for financial institutions in New York City, established Robinhood in April 2013. The name derives from the company’s objective to “provide everyone, not just the wealthy, with access to the financial markets.” Tenev stated that while brokerages charged “fractions of a penny” to execute a deal, they routinely charged $5 to $10 per trade and imposed account minimums ranging from $500 to $5,000.
Prices
The Hood stock price finished at $10.80, with a total market size of $9.75 billion (44 million shares outstanding). The Hood is listed on NASDAQ under the symbol HOOD. In the last 24 hours, the price of HOOD has increased by -2.75%. The stock price prognosis for Hoodies is now positive.
The business also claimed that it had $11.5 million in crypto assets under custody at the end of the first quarter, the same amount it had at the conclusion of the first quarter.
In June, Robinhood discontinued service for all tokens identified as securities in SEC litigation against Binance and Coinbase. Cardano (ADA), Polygon (MATIC), and Solana (SOL) were the tokens in question. Currently, the trading platform supports 15 different crypto currencies, including bitcoin (BTC), ether (ETH), dogecoin (DOGE), and avalanche (AVAX).
Overall, Robinhood reported earnings per share of $0.03 on revenue of $486 million in the second quarter, above analyst expectations of a loss of $0.01 per share on revenue of $473 million.
The stock’s momentum came to a halt at $13.00, and prices began to consolidate. On August 2, 2023, Robinhood Markets Inc. announced its quarterly profits.
The stock price decreased 5.47% after hours, indicating that the stock is projected to open with a gap down of approximately $11.76.
The shares of Robinhood finished the previous day at $12.44, a -3.34% decrease from the previous day. The current market capitalization is $11.23 billion.
Analysis
Before demonstrating a breakthrough, the Robinhood stock price created a solid foundation near $10.00.
It did well in the preceding month, and buying volume increased as well. It suggests that some legitimate investors may have put money into the stock. As a result, any short-term downturn is projected to be readily absorbed by purchasers.
Robinhood Markets Inc. reported better-than-expected quarterly earnings. It posted earnings per share of $0.03 and revenue of $486 million.
The firm outperformed the EPS forecast by 326.83% and the revenue forecast by 2.76%. Despite this, the HOOD stock has declined, which is extremely shocking.
On the Daily Chart:
- The Moving Averages Convergence Divergence (MACD) indicator for Robinhood Markets (HOOD) is 0.18, indicating that Robinhood Markets is a Buy.
- The 20-Day exponential moving average for Robinhood Markets (HOOD) is 11.88, and the share price is $10.8, indicating a Sell.
- The 50-day exponential moving average for Robinhood Markets (HOOD) is 11.14, and the share price is $10.8, indicating a Sell.
On the Weekly Chart:
- The Moving Averages Convergence Divergence (MACD) indicator for Robinhood Markets (HOOD) is 0.53, indicating that Robinhood Markets is a Sell.
- Robinhood Markets (HOOD) has a 20-day exponential moving average of 10.59 and a share price of $10.8, making it a Buy.
- The 50-day exponential moving average for Robinhood Markets (HOOD) is 11.63, and the share price is $10.8, indicating a Sell.
Indicators:
- The Relative Strength Index (RSI) for Robinhood Markets (HOOD) is 51.99, indicating a Neutral signal.
- The Trend Strength Indicator (ADX) for Robinhood Markets (HOOD) is 18.17, indicating a Buy recommendation.
- The Commodity Channel Index (CCI) of Robinhood Markets (HOOD) is 45.95, indicating a Neutral signal.
- The Price Rate of Change (ROC) for Robinhood Markets (HOOD) is 27.36, indicating a Buy signal.
Prediction
Our current Hood stock projection is that the value of Robinhood Markets, Inc. shares will fall by -11.79% to $9.52 per share by August 15, 2023. The present attitude is Bullish, according to our technical indicators, but the Fear and Greed Index is 39 (Fear). Over the previous 30 days, Hood stock has had 14/30 (47%) green days and 4.29% price volatility. According to our Robinhood Markets, Inc. stock forecast, it’s now a poor time to purchase Hood stock because it’s trading 13.36% higher than what we predicted.
Stock Forecast for Robinhood Markets, Inc. in 2025
The Robinhood Markets, Inc. stock forecast for 2025 is now $4.53, assuming that Robinhood Markets, Inc. shares will continue to increase at the same average annual rate as in the previous ten years. The stock price would rise by -58.06% as a result.
Stock Forecast for Robinhood Markets, Inc. in 2030
If Robinhood Markets, Inc. maintains its current 10-year average growth rate, its stock will be worth $0.515811 in 2030. If this Robinhood Markets, Inc. stock forecast for 2030 comes true, HHoodstock will increase by -95.22% from its present price.
