Analyst Consensus ?
ConsensusBuy26 ratings
Bullish1973.1%
Neutral519.2%
Bearish27.7%
Robinhood Markets, Inc. · HOOD · FY2026 Q1 · Calendar Q2 2026
Robinhood Q1 2026: Revenue Up 15% to $1.1B as Gold, Banking, and AI Accelerate
Robinhood entered fiscal 2026 with 15% YoY revenue growth to $1.1 billion and a 50% adjusted EBITDA margin, extending the record-setting FY2025 performance. The quarter featured record active-trader volumes, Gold credit card adoption crossing 800k users, and a new Trump Accounts trustee designation that broadens the addressable user base toward 60 million future investors. Management maintained the 2026 outlook for >20% net-deposit growth, and the $18 billion in quarterly net deposits is tracking in line. The revenue miss of 6.4% versus consensus prompted a sharp -13.2% initial reaction, but the stock subsequently recovered with a +19.2% drift, suggesting investors digested the product milestones and deposit growth favorably.
Reported After market closeNASDAQFinancial Services
$83.53B market cap
100quality score
Company context
Snapshot as of publicationRobinhood Markets, Inc. operates a financial services platform available to users throughout the United States. This platform empowers individuals to engage in a wide array of investments, encompassing common stocks, exchange-traded funds (ETFs), options contracts, gold, and various cryptocurrencies. Beyond its core trading functionalities, the company dedicates efforts to providing educational and informational resources.…
Earnings scorecard
Reported versus consensus
Reported EPS
$0.38
Consensus $0
EPS surprise
-1.4%
Reported versus consensus
Reported revenue
$1.07B
Consensus $1.14B
Revenue surprise
-6.4%
Reported versus consensus
Earnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$92.76Previous close
$5Low
$89.4Average
$171High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Jul 29, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Keybanc | Overweight | Overweight | Maintain | Jul 22, 2026 |
| Needham | Buy | Buy | Maintain | Jul 21, 2026 |
| Bernstein | Outperform | Outperform | Maintain | Jul 20, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Jul 16, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Jul 10, 2026 |
| Barclays | Overweight | Overweight | Maintain | Jul 9, 2026 |
| Mizuho | Outperform | Outperform | Maintain | Jul 2, 2026 |
| BTIG | Buy | Buy | Maintain | Jul 2, 2026 |
| Deutsche Bank | Buy | Buy | Maintain | Jun 30, 2026 |
| Argus Research | Buy | Buy | Maintain | Jun 17, 2026 |
| Cantor Fitzgerald | Overweight | Overweight | Maintain | Jun 9, 2026 |
| Citizens | Market Outperform | Market Outperform | Maintain | May 28, 2026 |
| Keefe, Bruyette & Woods | Market Perform | Market Perform | Maintain | Apr 29, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | Apr 23, 2026 |
| Truist Securities | Buy | Buy | Maintain | Apr 13, 2026 |
| Jefferies | Buy | Buy | Maintain | Apr 6, 2026 |
| Piper Sandler | Overweight | Overweight | Maintain | Feb 11, 2026 |
| B of A Securities | Buy | Buy | Maintain | Dec 10, 2025 |
| JMP Securities | Market Outperform | Market Outperform | Maintain | Oct 9, 2025 |
| Citigroup | Neutral | Neutral | Maintain | Sep 23, 2025 |
| Compass Point | Buy | Buy | Maintain | Jun 27, 2025 |
| Redburn Atlantic | Sell | Neutral | Downgrade | Jun 9, 2025 |
| Citizens Capital Markets | Market Outperform | Market Outperform | Maintain | Mar 28, 2025 |
| Wolfe Research | Peer Perform | Outperform | Downgrade | Feb 18, 2025 |
| Atlantic Equities | Underweight | Underweight | Maintain | Aug 31, 2022 |
| Rosenblatt | Buy | Buy | Maintain | Jan 28, 2022 |
Named analyst price targets
Upside is calculated against the persisted previous close $92.76. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| KeyBanc | Alex Markgraff | $125 | $106.36 | +34.8% | Jul 22, 2026 |
| Needham | Analyst unavailable | $123 | $99.28 | +32.6% | Jul 21, 2026 |
| Bernstein | Gautam Chhugani | $160 | $100.68 | +72.5% | Jul 20, 2026 |
| Morgan Stanley | Analyst unavailable | $124 | $111.47 | +33.7% | Jul 10, 2026 |
| Barclays | Analyst unavailable | $122 | $116.78 | +31.5% | Jul 9, 2026 |
| Mizuho Securities | Dan Dolev | $130 | $108.65 | +40.1% | Jul 2, 2026 |
| Deutsche Bank | Analyst unavailable | $113 | $100.96 | +21.8% | Jun 30, 2026 |
| Goldman Sachs | James Yaro | $121 | $98.69 | +30.4% | Jun 29, 2026 |
| BTIG | Analyst unavailable | $125 | $93.47 | +34.8% | Jun 26, 2026 |
| Argus Research | Stephen Biggar | $110 | $108.04 | +18.6% | Jun 17, 2026 |
| Loop Capital Markets | Stephen Biggar | $110 | $96.71 | +18.6% | Jun 17, 2026 |
| Deutsche Bank | Analyst unavailable | $105 | $96.71 | +13.2% | Jun 17, 2026 |
| Needham | Analyst unavailable | $97 | $86.36 | +4.6% | Jun 11, 2026 |
| Goldman Sachs | James Yaro | $108 | $88.77 | +16.4% | Jun 10, 2026 |
| Deutsche Bank | Brian Bedell | $98 | $84.59 | +5.6% | Jun 5, 2026 |
| Goldman Sachs | James Yaro | $105 | $82.85 | +13.2% | Jun 4, 2026 |
| Loop Capital Markets | Alex Markgraff | $100 | $87.23 | +7.8% | Jun 1, 2026 |
| Loop Capital Markets | James Yaro | $94 | $76.23 | +1.3% | May 27, 2026 |
| Needham | Analyst unavailable | $85 | $70.87 | -8.4% | Apr 29, 2026 |
| Mizuho Securities | Analyst unavailable | $105 | $71.4 | +13.2% | Apr 29, 2026 |
| Barclays | Analyst unavailable | $82 | $82.07 | -11.6% | Apr 29, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $110 | $90 | +18.6% | Apr 21, 2026 |
| KeyBanc | Analyst unavailable | $110 | $91.28 | +18.6% | Apr 21, 2026 |
| Mizuho Securities | Dan Dolev | $115 | $90.75 | +24.0% | Apr 20, 2026 |
| Truist Financial | Analyst unavailable | $100 | $70.83 | +7.8% | Apr 13, 2026 |
| Morgan Stanley | Analyst unavailable | $95 | $69.52 | +2.4% | Apr 10, 2026 |
| Mizuho Securities | Dan Dolev | $110 | $76.12 | +18.6% | Mar 13, 2026 |
| New Street | Craig Siegenthaler | $122 | $79.8 | +31.5% | Mar 5, 2026 |
| Goldman Sachs | James Yaro | $111 | $75.65 | +19.7% | Feb 20, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $100 | $73.12 | +7.8% | Feb 17, 2026 |
| Mizuho Securities | Analyst unavailable | $135 | $75.97 | +45.5% | Feb 17, 2026 |
| Truist Financial | Analyst unavailable | $120 | $78.07 | +29.4% | Feb 12, 2026 |
| Barclays | Analyst unavailable | $124 | $75.49 | +33.7% | Feb 11, 2026 |
| Loop Capital Markets | Gautam Chhugani | $160 | $75.92 | +72.5% | Feb 11, 2026 |
| Loop Capital Markets | Ed Engel | $127 | $74.86 | +36.9% | Feb 11, 2026 |
| Goldman Sachs | James Yaro | $130 | $85.6 | +40.1% | Feb 11, 2026 |
| Needham | John Todaro | $100 | $74.96 | +7.8% | Feb 11, 2026 |
| Piper Sandler | Analyst unavailable | $135 | $85.6 | +45.5% | Feb 11, 2026 |
| Loop Capital Markets | Alex Markgraff | $130 | $87.64 | +40.1% | Feb 9, 2026 |
| KeyBanc | Analyst unavailable | $130 | $82.82 | +40.1% | Feb 9, 2026 |
| Wolfe Research | Analyst unavailable | $125 | $82.82 | +34.8% | Feb 9, 2026 |
| Truist Financial | Analyst unavailable | $130 | $72.7 | +40.1% | Feb 5, 2026 |
| Argus Research | Analyst unavailable | $145 | $115.39 | +56.3% | Jan 9, 2026 |
| Barclays | Analyst unavailable | $159 | $116.97 | +71.4% | Jan 8, 2026 |
| Needham | Analyst unavailable | $135 | $116.85 | +45.5% | Dec 29, 2025 |
| Morgan Stanley | Analyst unavailable | $147 | $121.35 | +58.5% | Dec 22, 2025 |
| Truist Financial | Analyst unavailable | $155 | $119.4 | +67.1% | Dec 16, 2025 |
| Barclays | Benjamin Budish | $171 | $123.39 | +84.3% | Dec 12, 2025 |
| Cantor Fitzgerald | Analyst unavailable | $152 | $127.03 | +63.9% | Dec 11, 2025 |
| Loop Capital Markets | Brett Knboblauch | $152 | $126.56 | +63.9% | Dec 11, 2025 |
| Susquehanna | Analyst unavailable | $155 | $115.57 | +67.1% | Nov 26, 2025 |
| Cantor Fitzgerald | Analyst unavailable | $155 | $131.35 | +67.1% | Nov 6, 2025 |
| KeyBanc | Alex Markgraff | $155 | $143.57 | +67.1% | Oct 31, 2025 |
| Loop Capital Markets | Alex Markgraff | $155 | $150.33 | +67.1% | Oct 31, 2025 |
| Loop Capital Markets | Ed Engel | $161 | $147.44 | +73.6% | Oct 27, 2025 |
| Piper Sandler | Analyst unavailable | $155 | $140.68 | +67.1% | Oct 14, 2025 |
| JMP Securities | Devin Ryan | $170 | $150.87 | +83.3% | Oct 9, 2025 |
| Barclays | Analyst unavailable | $162 | $145 | +74.6% | Oct 8, 2025 |
| Morgan Stanley | Michael Cyprys | $146 | $138.73 | +57.4% | Oct 1, 2025 |
| Needham | John Todaro | $145 | $136.72 | +56.3% | Sep 30, 2025 |
| Summit Redstone Partners | Alex Markgraff | $135 | $117.46 | +45.5% | Sep 10, 2025 |
| Piper Sandler | Patrick Moley | $120 | $121.58 | +29.4% | Sep 10, 2025 |
| Summit Redstone Partners | Analyst unavailable | $145 | $117.46 | +56.3% | Sep 10, 2025 |
| Mizuho Securities | Analyst unavailable | $120 | $106.1 | +29.4% | Jul 31, 2025 |
| Barclays | Analyst unavailable | $120 | $103.71 | +29.4% | Jul 31, 2025 |
| Mizuho Securities | Analyst unavailable | $99 | $92.33 | +6.7% | Jul 1, 2025 |
| Goldman Sachs | James Yaro | $82 | $74.88 | -11.6% | Jun 11, 2025 |
| Deutsche Bank | Brian Bedell | $61 | $36.36 | -34.2% | Mar 12, 2025 |
| Cantor Fitzgerald | Analyst unavailable | $69 | $44.84 | -25.6% | Mar 6, 2025 |
| Loop Capital Markets | Benjamin Budish | $49 | $41.67 | -47.2% | Dec 9, 2024 |
| Mizuho Securities | Dan Dolev | $60 | $38.92 | -35.3% | Dec 5, 2024 |
| Piper Sandler | Patrick Moley | $54 | $40.67 | -41.8% | Dec 5, 2024 |
| Loop Capital Markets | Alex Markgraff | $47 | $40.73 | -49.3% | Dec 5, 2024 |
| Loop Capital Markets | Benjamin Budish | $26 | $36.65 | -72.0% | Nov 25, 2024 |
| Morgan Stanley | Michael Cyprys | $55 | $36.65 | -40.7% | Nov 25, 2024 |
| Mizuho Securities | Dan Dolev | $35 | $17.92 | -62.3% | Nov 19, 2024 |
| Piper Sandler | Patrick Moley | $36 | $34.08 | -61.2% | Nov 18, 2024 |
| Needham | John Todaro | $40 | $34.17 | -56.9% | Nov 18, 2024 |
| Loop Capital Markets | Brian Bedell | $35 | $17.92 | -62.3% | Nov 13, 2024 |
| Mizuho Securities | Dan Dolev | $29 | $27.88 | -68.7% | Oct 29, 2024 |
| Loop Capital Markets | Benjamin Budish | $23 | $27.88 | -75.2% | Oct 28, 2024 |
| Piper Sandler | Patrick Moley | $30 | $26.5 | -67.7% | Oct 21, 2024 |
| Piper Sandler | Patrick Moley | $27 | $23.74 | -70.9% | Sep 19, 2024 |
| Deutsche Bank | Brian Bedell | $24 | $18.65 | -74.1% | Aug 15, 2024 |
| Piper Sandler | Patrick Moley | $23 | $17.92 | -75.2% | Aug 12, 2024 |
| JMP Securities | Devin Ryan | $30 | $17.21 | -67.7% | Aug 7, 2024 |
| Citigroup | Christopher Allen | $18 | $15.94 | -80.6% | Aug 5, 2024 |
| Wolfe Research | Steven Chubak | $29 | $22.77 | -68.7% | Jun 26, 2024 |
| Loop Capital Markets | Christopher Allen | $18 | $23.7 | -80.6% | Jun 13, 2024 |
| Loop Capital Markets | Kyle Voigt | $21.5 | $20.62 | -76.8% | May 29, 2024 |
| Loop Capital Markets | Craig Siegenthaler | $24 | $17.9 | -74.1% | May 17, 2024 |
| KeyBanc | Alex Markgrafff | $23 | $17.4 | -75.2% | May 9, 2024 |
| Piper Sandler | Patrick Moley | $18 | $17.85 | -80.6% | May 9, 2024 |
| Mizuho Securities | Dan Dolev | $23 | $17.85 | -75.2% | May 9, 2024 |
| Mizuho Securities | Dan Dolev | $21 | $17.99 | -77.4% | May 7, 2024 |
| Barclays | Benjamin Budish | $16 | $18.4 | -82.8% | Apr 8, 2024 |
| Loop Capital Markets | Brian Bedell | $19 | $18.45 | -79.5% | Apr 5, 2024 |
| Loop Capital Markets | Kyle Voigt | $20 | $19.2 | -78.4% | Apr 3, 2024 |
| Loop Capital Markets | Alex Markgraff | $22 | $20.01 | -76.3% | Mar 28, 2024 |
| Bernstein | Gautam Chhugani | $30 | $18.12 | -67.7% | Mar 14, 2024 |
| Loop Capital Markets | Brian Bedell | $16 | $18.05 | -82.8% | Mar 14, 2024 |
| Loop Capital Markets | Gautam Chhugani | $30 | $17.16 | -67.7% | Mar 13, 2024 |
| Piper Sandler | Patrick Moley | $12.5 | $13.2 | -86.5% | Feb 14, 2024 |
| Mizuho Securities | Dan Dolev | $15 | $10.91 | -83.8% | Jan 23, 2024 |
| JMP Securities | Devin Ryan | $23 | $9.24 | -75.2% | Dec 1, 2023 |
| Loop Capital Markets | Devin Ryan | $25 | $9.48 | -73.0% | May 11, 2023 |
| Barclays | Sam Boughedda | $7 | $9.46 | -92.5% | Aug 31, 2022 |
| Barclays | Benjamin Budish | $10 | $9.47 | -89.2% | Aug 31, 2022 |
| Piper Sandler | Richard Repetto | $10 | $10.93 | -89.2% | Aug 15, 2022 |
| Mizuho Securities | Analyst unavailable | $13 | $10.31 | -86.0% | Aug 4, 2022 |
| Morgan Stanley | Michael Cyprys | $14 | $8.18 | -84.9% | Jul 5, 2022 |
| Loop Capital Markets | Will Nance | $9.5 | $9.12 | -89.8% | Jun 27, 2022 |
| Goldman Sachs | Will Nance | $9.5 | $8 | -89.8% | Jun 27, 2022 |
| Atlantic Equities | John Heagerty | $5 | $7.16 | -94.6% | Jun 15, 2022 |
| Loop Capital Markets | John Heagerty | $5 | $7.13 | -94.6% | Jun 15, 2022 |
| Piper Sandler | Richard Repetto | $11 | $10.69 | -88.1% | May 16, 2022 |
| Mizuho Securities | Dan Dolev | $14 | $10.48 | -84.9% | May 3, 2022 |
| Wolfe Research | Analyst unavailable | $10 | $9.87 | -89.2% | Apr 29, 2022 |
| Deutsche Bank | Brian Bedell | $10 | $10.09 | -89.2% | Apr 29, 2022 |
| Mizuho Securities | Dan Dolev | $19 | $10 | -79.5% | Apr 27, 2022 |
| Deutsche Bank | Brian Bedell | $11 | $11.24 | -88.1% | Apr 9, 2022 |
| Morgan Stanley | Michael Cyprys | $15 | $13.5 | -83.8% | Apr 3, 2022 |
| Deutsche Bank | Brian Bedell | $14 | $11.81 | -84.9% | Feb 21, 2022 |
| Bank of America Securities | Craig Siegenthaler | $13 | $14.15 | -86.0% | Jan 31, 2022 |
| Piper Sandler | Richard Repetto | $13 | $12.73 | -86.0% | Jan 28, 2022 |
| Rosenblatt Securities | Sean Horgan | $15 | $12.73 | -83.8% | Jan 28, 2022 |
| Mizuho Securities | Dan Dolev | $20 | $13.05 | -78.4% | Jan 25, 2022 |
| Piper Sandler | Richard Repetto | $17 | $15.17 | -81.7% | Jan 15, 2022 |
| Wolfe Research | Steven Chubak | $20 | $17.4 | -78.4% | Jan 4, 2022 |
| Atlantic Equities | John Heagerty | $35 | $33.87 | -62.3% | Nov 16, 2021 |
| Autonomous Research | Christian Bolu | $55 | $40.52 | -40.7% | Oct 13, 2021 |
Track every rating change on HOOD the moment it posts. Free to start.
Start freeMarket reaction
event-close to next-session close
Stock move
-13.2%
Event window
SPY move
-0.0%
Same window
Abnormal move
-13.2%
Stock minus SPY
Volume
2.4×
Versus trailing sessions
Subsequent drift
+19.2%
Up to 20 sessions
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Try FN2 freeTranscript intelligence
What changed
Revenue grew 15% YoY to $1.07B but missed the $1.14B consensus by 6.4%. EPS of $0.38 narrowly trailed the $0.39 estimate (1.4% miss). Net deposits surged 20% annualized to $18B, consistent with full-year guidance. Gold credit card crossed 800k users with $15B annualized purchase volume. Banking grew 5x to $2B in deposits with a 40% direct-deposit attach rate. Robinhood was named sole initial trustee for the Treasury's Trump Accounts program — a new catalyst absent from the prior quarter. The Rothera prediction-market exchange launched with Susquehanna. Over 90% of employees now use AI daily, with nine-figure efficiency gains and a 50% increase in code commits per engineer.
Guidance delta
Management maintained its 2026 outlook, which was originally raised at the FY2025 report. The prior quarter's guidance targeted >20% net-deposit growth and expense growth of 18% (below 2025). This quarter's 20% annualized net-deposit growth is tracking in line. No upward revision was announced, but no downgrade either — the cadence and cost discipline appear intact.
Key takeaways
- Revenue grew 15% YoY to $1.1B with a 50% adjusted EBITDA margin, continuing profitable growth into fiscal 2026.
- Net deposits reached $18B annualized (20% growth), tracking the >20% full-year guidance target.
- Gold credit card surpassed 800k users with $15B annualized purchase volume; Banking grew 5x to $2B in deposits.
- Robinhood named sole initial trustee for Trump Accounts, investing $100M to target 60M future investors.
- AI adoption internally at 90%+ of employees, driving nine-figure cost savings and a 50% increase in code commits per engineer.
- International expansion continuing: UK crypto event in July, Canada crypto mid-year, Singapore brokerage license in-principle approval.
Management priorities
- Launch AI-agentic features in late May and scale the Cortex Assistant across mobile and Legend.
- Roll out the Trump Accounts app in Q2 with a $100M investment as sole initial trustee.
- Expand crypto to Canada mid-year and host a UK crypto event in early July.
- Scale the Rothera prediction-market exchange with Susquehanna and broaden asset-class integration.
- Extend Robinhood Social to a broader user base and integrate more asset classes.
- Pursue additional international licenses including Singapore.
Related earnings events
Financial ServicesAXP · FY2026 Q2 · Calendar Q3 2026AXP Q2 2026: Platinum Card Drives 10% Revenue Growth, Full-Year Guidance RaisedBX · FY2026 Q2 · Calendar Q3 2026Blackstone Beats on AI-Driven Inflows, AUM Hits Record $1.35 TrillionMCO · FY2026 Q2 · Calendar Q3 2026Moody's Q2: Revenue Up 15%, EPS Beat of 10%, Guidance Raised as AI Data-Center Financing Surges
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-07-29T07:01:00.214331+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-29T07:01:00.211789+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated . For educational purposes only; not investment advice.