What's Going On With Robinhood Stock?

Zinger Key Points
  • Robinhood CEO Vlad Tenev said on Fox Business that the company was prepared to handle any traffic influx from Roaring Kitty's livestream.
  • “We are prepared. We’ve been working on improving the infrastructure tremendously,” Tenev said. 

Robinhood Markets, Inc. HOOD shares are trading lower Friday and the stock is up more than 30% over the past month. Here's a look at what's going on. 

The Details:

Robinhood CEO Vlad Tenev said on Fox Business Tuesday that the company was prepared to handle any traffic influx resulting from Roaring Kitty's livestream scheduled for 12 p.m. Friday. 

"We are prepared. We've been working on improving the infrastructure tremendously," Tenev said. 

GameStop shares are trading 40% lower following an early earnings release, additional stock offering and Keith Gill's livestream. Many "meme stocks" are moving lower in sympathy as well.  

Robinhood announced on Thursday that it entered into an agreement to acquire the crypto exchange Bitstamp in an approximately $200 million all-cash deal. 

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HOOD Stock Prediction 2024:

Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.

Shares of Robinhood Markets have an average 1-year price target of $21.95, representing an expected downside of 2.1%.

Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. 3 analysts have bearish recommendations on Robinhood Markets, while 11 analysts have bullish ratings. The street high price target from JMP Securities is $30, while the street low from Citigroup is $16.

HOOD Price Action: According to Benzinga Pro, Robinhood Markets shares are down 2.79% at $22.33 at the time of publication Friday.

Image: Shutterstock

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