Robinhood Markets Inc. (NASDAQ:HOOD) reported better-than-expected third-quarter financial results Tuesday after market close.

Robinhood reported third-quarter revenue of $1.424 billion, up 12% year-over-year, beating a Street consensus estimate of $1.422 billion, according to data from Benzinga Pro. The total was a company quarterly record.

The company reported adjusted earnings of 60 cents per share, beating a Street consensus estimate of 56 cents per share.

“Our vision is to make everyone an owner, because broad ownership is essential to a free, stable, and prosperous society,” Robinhood CEO Vlad Tenev said.

Robinhood lowered the top end of its 2026 outlook for adjusted operating expenses and share-based compensation to a range of $2.675 billion to $2.75 billion, down from a prior range of $2.675 billion to $2.775 billion.

Robinhood shares fell 6.7% to $88.22 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 $126 to $116.
• Truist Securities analyst David Smith maintained the stock with a Buy and lowered the price target from $134 to $125.
• BTIG analyst Andrew Harte reiterated the stock with a Buy and maintained a $135 price target.

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

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