Robinhood Markets Inc. (NASDAQ:HOOD) stock is trading higher on Wednesday. The Nasdaq is up 0.52% while the S&P 500 has gained 0.07%.
Analyst Price Forecast Revisions
On Wednesday, Argus Research maintained a Buy rating on the stock and raised its price forecast from $90 to $110. This follows other positive adjustments from Wall Street analysts earlier in the month.
On June 11, Needham maintained a Buy rating and raised its forecast to $97. Prior to that, Cantor Fitzgerald maintained an Overweight rating on June 9, keeping its price forecast at $110.
Corporate Workforce Reduction Plans
On Tuesday, Robinhood announced a reduction in force involving approximately 10% of its full-time employees alongside the closure of a small number of open roles.
According to the company, it is taking this action to “maintain a high performance culture, further accelerate product velocity, and remain lean and disciplined.”
Management stated the decision comes from a position of business strength, noting that June month-to-date average daily trading volumes reached record levels across equities, options, and prediction markets.
Financial Impact and Restructuring Charges
The company estimates it will incur cash restructuring and related charges of approximately $20 million for employee severance and benefits costs, and roughly $8 million for share-based compensation.
Robinhood expects to recognize the accrual for these charges in the second quarter of 2026.
Upcoming Quarterly Earnings Schedule
Robinhood is expected to report its second-quarter earnings on July 29. Analysts estimate earnings per share of 41 cents on quarterly revenue of $1.19 billion.
In the first quarter, the company reported EPS of 38 cents, missing the estimated 39 cents, while revenue came in at $1.07 million, below the $1.14 billion estimate.
HOOD Stock Price Activity: Robinhood Markets shares were up 12.27% at $108.58 at the time of publication on Wednesday, according to Benzinga Pro data.
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