Robinhood Markets (HOOD)

Hold Recap: Q1 2026

The Miss Is Real, Trump Accounts Is the Long-Term Offset — Hold Maintained on a Cycle Where the Risk/Reward Is No Longer Asymmetric

Hold Flashcap: Q1 2026

Revenue Miss, Crypto Down 47%, and a $100M OpEx Guide Raise — The First Real Deceleration Print Forces a Step Down to Hold

Outperform Recap: Q4 2025

Record Year, Reinvestment Year: 2026 OpEx +18% Resets the Margin Story but the Wealth Franchise Is Compounding

Outperform Recap: Q3 2025

Revenue Doubled, EPS Tripled, Prediction Markets Going Vertical — Sold Off on a CFO Change and an Expense Raise

Outperform Recap: Q2 2025

Tokenization, Bitstamp, and a 56% Margin Print: The Multi-Product Thesis Lands

Outperform Recap: Q1 2025

Tariff Selloff Masks an Acceleration: Revenue +50%, Gold +90%, Net Deposits at Record $18B