What's Going On With Robinhood Stock Today?

Robinhood Markets Inc HOOD shares are rising Wednesday. The company reported operating metrics for May showing total platform assets of $255 billion.

What To Know: Robinhood on Wednesday said total platform assets climbed 10% from April to $255 billion, up 89% on a year-over-year basis. The company reported $3.5 billion of net deposits in May, bringing total net deposits up to $59.1 billion over the last 12 months.

Funded customers grew to 25.9 million at the end of May, up about 5,000 from April and up 1.8 million from May 2024.

Equity notional trading volumes totaled $180.5 billion last month, up 14% from April and up 108% year-over-year. Options contracts traded were up 7% month-over-month and 36% on a year-over-year basis to 179.8 million in May. Crypto notional trading volumes also saw strong growth, up 36% from April and 65% year-over-year to $11.7 billion.

Margin balances climbed 100% year-over-year to $9 billion, marking a 9% increase from the end of April. Total cash sweep balances were $30.8 billion at the end of the month, up 7% from April and up 52% year-over-year.

Robinhood said its May metrics do not include the benefit of the company’s recent acquisition of Bitstamp, which closed on June 2 and included approximately 500,000 funded customers.

Related Link: Webull Stock Is Trading Higher: What Investors Are Watching

Is HOOD A Good Stock To Buy?

Wall Street analysts view Robinhood on the whole as a Buy, given the history of coverage over the past three months. Michael Cyprys from Morgan Stanley in Robinhood Markets is the most bearish, expecting a 55.56% fall in the stock in the coming year.

But looking at how the market as a whole thinks of the stock, you can reference historical price action for views on whether investors feel strongly about the stock one way or another. In the past three months, Robinhood shares rose 97.83%, which indicates that opinion improved on the business and how attractive it is to own based on either its stock price, or underlying fundamentals, like revenue, which rose 50% over the past year.

A complete overview of how Wall Street views individual stocks is available here, while real time updates on the latest analyst actions will be delivered via Benzinga PRO. Try it for free.

HOOD Price Action: Robinhood shares were up 3.09% at $74.75 at the time of publication Wednesday, according to Benzinga Pro.

Photo: Bangla press/Shutterstock.