Shares of Robinhood Markets, Inc. (NASDAQ: HOOD) surged over 5% in pre-market trading on Wednesday, fueled by heightened Wall Street optimism ahead of the company's fourth-quarter earnings release later today.
The stock trading and cryptocurrency platform has seen a series of positive analyst actions in recent weeks, with several firms raising their price targets and reiterating bullish ratings on HOOD. Analysts cited expectations of robust Q4 results driven by the company's expanding cryptocurrency offerings and growth in retail trading activity.
According to data from Benzinga Pro, Wall Street anticipates HOOD to report quarterly earnings of $0.52 per share, up significantly from $0.13 per share in the year-ago period. The company is also projected to post revenue of $951.79 million, more than doubling from $471 million a year earlier.
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