Robinhood's Third Quarter Performance Shows Strong Earnings Despite Weak Cryptocurrency Revenue

According to PANews, Wall Street bank JPMorgan has assessed Robinhood's third-quarter performance as robust but lacking in quality. The company's earnings exceeded expectations, with earnings per share surpassing forecasts by approximately 15%. This was attributed to a 52% increase in stock prices, which resulted in a lower tax rate related to stock option compensation. JPMorgan analysts anticipate continued improvement in the platform's profit margins, raising the stock price target from $122 to $130 while maintaining a neutral rating source: https://www.binance.com/en/square/post/32060129886834?utm_source=BinanceNewsRSS