Robinhood Markets Inc. (NASDAQ:HOOD) on Wednesday posted better-than-expected second-quarter results.

Robinhood reported quarterly earnings of 62 cents per share, which beat the analyst consensus estimate of 42 cents by 47.62%, according to Benzinga Pro data. Quarterly revenue clocked in at $1.31 billion, which beat the Street estimate of $1.28 billion and was up from $989 million in the same period last year.

"Whether it’s the Robinhood Chain, Robinhood Ventures, or Trump Accounts, our product velocity is focused on one goal: making everyone an owner," said CEO Vlad Tenev, adding, "Broad ownership is essential to a free, stable, and prosperous society."

Robinhood shares gained 0.9% to $90.62 in pre-market trading.

These analysts made changes to their price targets on Robinhood following earnings announcement.

• Needham analyst John Todaro maintained the stock with a Buy and lowered the price target from $123 to $120.
• Barclays analyst Benjamin Budish maintained the stock with an Overweight rating and cut the price target from $122 to $105.

Considering buying HOOD stock? Here’s what analysts think:

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