Robinhood Rises As Traders Bet Bullish Ahead Of Earnings

Benzinga

Robinhood jumped 6% to $137.42 as traders turned bullish ahead of its November 5 earnings. Analysts expect $1.19B in revenue and 51¢ EPS, with top firms setting price targets up to $157 as the stock nears its yearly high.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Provident shares rose nearly 6% money to $137.42.

00:06Traders positioned bullishly out of its November 5th earnings report.

00:10Benzinga Insights data shows 65% bullish sentiment in options activity,

00:14with $1.2 million in call trades outpacing puts.

00:17Analysts project earnings of $51 and $1.19 billion in revenue,

00:22with buy ratings from EDEM, Goldman Sachs, and Bank of America

00:25targeting $145 to $157.

00:28The stock has surged 248.6% year-to-date,

00:32nearing its 52-week high of $153.85.

00:36Technicals show support near $120.46 and resistance at $153.85,

00:42with the RSI at 47.55, suggesting room for further gains.

00:46For all things money, visit Benzinga.com.

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