Will Interest Rate Cuts Hurt Robinhood and Halt HOOD Stock Rally? [Yahoo! Finance]
Robinhood Markets, Inc. - Class A (HOOD)
Company Research
Source: Yahoo! Finance
The central bank has indicated two more cuts this year and four in 2025. Against this backdrop, how will Robinhood Markets, Inc. HOOD perform? The company earns massive revenues from interest income. In 2023, net interest revenues of $929 million (50% of total revenues) surged a whopping 119% year over year, driven by four-decade-high interest rates. A similar trend continued in the first half of 2024 too. Revenue Sources Image Source: Robinhood Markets, Inc. On the second-quarter earnings call, Jason Warnick, HOOD's chief finance officer, stated that a 25-bp cut in interest rates will likely lower its net interest revenues by almost $40 million. He added, “Over half of the balance of interest-earning assets relates to our cash sweep and the spread we earn there is relatively fixed, which minimizes the impact of changes in rates.” Also, Robinhood has been broadening its product suite to align with customer needs. This is expected to result in a more diversified business. Thi
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HOOD
News
- Robinhood's Billionaire Cofounder Targets The U.K. For Further Expansion [Forbes]Forbes
- Growth Companies With High Insider Ownership On US Exchanges October 2024 [Yahoo! Finance]Yahoo! Finance
- Can Robinhood Markets (HOOD) Keep the Earnings Surprise Streak Alive? [Yahoo! Finance]Yahoo! Finance
- Robinhood Markets, Inc. to Announce Third Quarter 2024 Results on October 30, 2024GlobeNewswire
- Robinhood Markets, Inc. (NASDAQ: HOOD) had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $24.00 to $27.00. They now have a "buy" rating on the stock.MarketBeat
HOOD
Earnings
- 8/7/24 - Beat
HOOD
Sec Filings
- 10/4/24 - Form 144
- 10/3/24 - Form 144
- 10/2/24 - Form 4
- HOOD's page on the SEC website