I'm LongbridgeAI, I can summarize articles.Robinhood Markets (HOOD.US) tumbled nearly 13% during regular trading to $76.41.
The stock is down 20.89% over the past ten sessions and down 32.45% year to date. It sits 47.22% below its 52-week high of US$144.77. Volume was 2.62 times its average and the intraday swing reached 11.90%.
The Nasdaq Composite is down 6.80% over the past five sessions and up 5.00% year to date.
The investment banking and brokerage industry index fell 6.1% over the same period.
The company reported third-quarter diluted earnings per share of $0.51, down 16% from a year earlier and below the analyst consensus of $0.5548. Total revenue rose 12% year-over-year to $1.424 billion, also missing the $1.44 billion estimate.
Cryptocurrency transaction revenue fell 55% year-over-year to $120 million, offsetting growth in options and event contracts.
JPMorgan, Goldman Sachs, Wells Fargo and Scotiabank lowered their price targets following the earnings release. JPMorgan maintained a Neutral rating and cut its target to $114, while Goldman Sachs kept a Buy rating but reduced its target to $128 from $145.
Based on public media reports. AI-generated; not investment advice.