Is Robinhood Stock Still a Buy After Its Q2 Earnings Beat?
Robinhood stock is higher after the trading platform reported strong Q2 earnings results and analysts have been quick to chime in. Here's what they're saying.


Robinhood Markets (HOOD) stock is higher in Thursday's session after the online brokerage platform reported record strong second-quarter results, beating expectations on both the top and bottom lines.
In the three months ended June 30, Robinhood said its revenue increased 40.3% year-over-year to $682 million, driven by a 69.4% jump in transaction-based revenues to $327 million. This included a 161% increase in cryptocurrency revenue to $81 million.
HOOD's profitability also improved, with the company reporting earnings per share (EPS) of 21 cents compared with 3 cents in the year-ago period.

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
"This quarter, we kept up the pace with rapid product launches and a relentless drive to provide top value for our customers," said Robinhood CEO Vlad Tenev in a statement. "With Robinhood Gold [the company's paid subscription service] reaching 2 million subscribers, we're witnessing the flywheel accelerate."
The trading platform's results handily topped analysts' expectations. Wall Street was anticipating revenue of $643.3 million and earnings of 15 cents per share, according to Reuters.
"I'm encouraged by the progress we're making as a business," said Robinhood Chief Financial Officer Jason Warnick in a statement. "In Q2, we set new quarterly records for revenues and earnings per share as we continue to focus on delivering another year of profitable growth."
Is Robinhood stock a buy, sell or hold?
Robinhood has also shown tremendous growth on the price charts, with shares up nearly 40% for the year to date. And Wall Street is bullish that the financial stock has more room to run.
According to S&P Global Market Intelligence, the average analyst target price for HOOD stock is $22.91, representing implied upside of more than 30% to current levels. Additionally, the consensus recommendation is a Buy.
Speaking for the bulls is Mizuho Securities analyst Dan Dolev, who has an Outperform (Buy) rating on Robinhood. "There was a lot to like about HOOD's Q2 including a record $13 billion net deposits," Dolev says, adding that the momentum has continued in July and August.
"In our view, despite already strong momentum, HOOD is still in its early stages of disrupting the Brokerage industry and has plenty of runway from here," he notes.
Separately, Needham analyst John Todaro says that "HOOD is doing everything right in our view from a cost discipline and product initiative standpoint, and we are excited about the Bitstamp and Pluto Capital acquisitions." However, Todara maintained a Hold rating after earnings amid a cautious near-term "outlook for retail investor appetite."
Related Content
Get Kiplinger Today newsletter — free
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.
Joey Solitro is a freelance financial journalist at Kiplinger with more than a decade of experience. A longtime equity analyst, Joey has covered a range of industries for media outlets including The Motley Fool, Seeking Alpha, Market Realist, and TipRanks. Joey holds a bachelor's degree in business administration.
-
Are You a Retirement Millionaire Too Scared To Spend?
If you are too scared to spend money in retirement, you may be saddled with regret. Here are three ways to safely enjoy your sizable retirement nest egg.
By Donna Fuscaldo Published
-
U.S. Treasury to Eliminate Paper Checks: What It Means for Tax Refunds, Social Security
Treasury President Trump signed an executive order forcing the federal government to phase out paper check disbursements by the fall.
By Gabriella Cruz-Martínez Published
-
Seven Questions to Ask When Evaluating Personal Loan Options
Taking out a personal loan too hastily could lock you into unfavorable terms with an untrustworthy lender. Ask these questions before signing anything.
By David Kimball Published
-
How Much Does Being Rich Matter in Retirement?
After a certain point, having more money in retirement won't make you any happier, new research shows. Instead, physical health, a sense of purpose, and a minimal amount of non-mortgage debt are more relevant.
By Christy Bieber Published
-
The Three Biggest Fears Keeping Retirees Up at Night
Here are the steps you can take to put those fears to rest and retire with confidence so you can relax and enjoy the life you've planned.
By Pam Krueger Published
-
What Can a Donor-Advised Fund Do for You? (A Lot)
DAFs and private foundations go about helping charities (and those who donate) in different ways. Each comes with its own benefits and restrictions to navigate.
By Julia Chu Published
-
Estate Planning When You Have International Assets
Estate planning gets tricky when you have assets and/or beneficiaries outside the U.S. To avoid costly inheritance mistakes, it pays to understand the basics.
By Kelsey M. Simasko, Esq. Published
-
Microsoft Stock: Innovation Spurs Its 100,000% Return
Microsoft's ability to recognize the "next big thing" has allowed sales – and its share price – to grow exponentially over the years.
By Louis Navellier Published
-
Three Essential Estate Planning Steps to Protect Your Nest Egg
After dedicating years to building your wealth and securing your future, make sure your assets are protected and your loved ones are provided for in the future.
By Nicole Farbo, CFP® Published
-
Is Chasing the American Dream Ruining Your Financial Life?
Too many people focus on visible affluence as a marker of success. Here's how to avoid succumbing to the pressure and driving yourself into debt.
By Anthony Martin Published