Why Robinhood (HOOD) Shares Are Falling

Robinhood Markets Inc HOOD shares are trading lower by 7.77% to $8.90 Friday afternoon on possible profit taking after the stock rallied following first-quarter results. Also, Barclays on Friday maintained the stock with an Underweight rating on the stock and lowered its price target from $10 to $9.

What Happened?

Robinhood reported first-quarter revenue of $441 million, up 16% quarter-over-quarter. The total came in ahead of a Street consensus estimate of $424.5 million.

The company reported a loss of 57 cents per share, which beat a Street estimate of a loss of 61 cents per share.

Transaction revenue totaled $207 million in the first quarter, which was up 11% year-over-year...Read More

According to data from Benzinga Pro, HOOD has a 52-week high of $12.76 and a 52-week low of $6.81.