Should you buy Robinhood stock? (February 2024)

Published first at https://www.3minutebreakdowns.com Robinhood stock analysis. Ticker: $HOOD Robinhood reported earnings on Wednesday and the stock jumped by 15% taking the market cap to $11.9 billion dollars. With 4.8 billion of corporate cash on the balance sheet and no debt the enterprise value is 7 billion. This was an impressive quarter from Robinhood. Total revenues increased 24% to $471 million, net income was positive and operating expenses declined 17%. Robinhood’s promotions (such as retirement matching) are clearly gaining traction. 100,000 new retirement accounts were added in the fourth quarter and this helped contribute to a 65% increase in assets under custody, which is the total amount of assets held under Robinhood. The company said on the conference call that it’s taking share from all of the major U.S. brokerages. And with $103 billion of assets under custody, there’s plenty of market share to be had. Schwab, by comparison, is at 9 trillion and Fidelity at 13 trillion. Meanwhile, Robinhood continues to invest in growth. The company is improving it’s web offering, moving into the UK, building a credit card business and its subscription service Robinhood Gold grew 25%. #investing #stocks #stockstobuy #3mb