When you look at Hood stock right now, the vibe is definitely mixed. Robinhood posted $1.28 billion in revenue for Q4 2025, up 27% from last year. But Wall Street expected $1.34 billion, so the stock dropped about 6% right after. Here’s the twist though—earnings per share hit $0.66, which actually beat analyst forecasts. So you had more profit per share but less total revenue coming in. That’s why investors felt confused. The stock is down 24% since January, but still up over 60% from last year. Crypto trading revenue tanked 38%, and that’s what scared everyone. But traditional stock trading jumped 54% and options jumped 41%. So the core business is actually growing. It’s just crypto that’s dragging things down right now.
Robinhood Stock: Still a Buy?
Wall Street isn’t running away from Robin hood stock despite the drop. Barclays cut their price target from $159 to $124 but kept an “Overweight” rating, which means they still like it. Piper Sandler went to $135 and Compass Point to $127, both staying positive. Needham dropped to $100 while Citizens stayed at $180 with “Outperform.” So opinions vary, but most firms aren’t bailing out. The big question is whether the crypto revenue miss is temporary or something deeper. Bullish analysts think 2026 will be a comeback year. Robinhood management promised an “ambitious growth roadmap,” and firms like Morgan Stanley see real momentum ahead. The pros are adjusting numbers but keeping their buy ratings. Nobody’s panicking yet.
Hood Earnings: The Good and The Not-So-Good
Hood earnings tell two completely different stories right now. The bad news is crypto revenue crashed to $221 million, down 38% from last year. Analysts expected $248 million, so this was a clear miss. Trading volumes cooled off and active traders qualified for better fee tiers. That’s why revenue came up short. But everything else looks great. Stock trading revenue jumped 54%. Options revenue climbed 41%. Net interest income hit $411 million, up 39%. So if you ignore crypto, this was actually a really solid quarter. The problem is crypto is still core to their brand. You can’t just pretend it doesn’t matter. Still, traditional trading and lending are picking up the slack nicely. That’s a healthy sign long-term.
Robinhood Earnings: New Growth Engines
The best part of Robinhood’s earnings wasn’t even trading this time. Prediction markets were absolutely massive. Customers traded over $12 billion in event contracts during 2025. Super Bowl bets, election contracts, everything. In Q4 alone, they did $85 billion in volume. The company says this is already at a $300 million annual run rate and growing faster than anything they’ve ever built. Then there’s the Gold Card. They hit 600,000 customers, up five times from last year. Spending is at $10 billion annualized. They want to double that by the end of 2026. Robinhood Banking is testing too with 25,000 funded customers and $400 million in deposits. The “financial super app” vision is actually happening now.
What Analysts Say: 2026 Outlook
Analysts say 2026 looks pretty constructive so far. Robinhood guided operating expenses between $2.6 billion and $2.725 billion, only about 18% growth. That’s disciplined given everything they’re building. They’re spending on the Gold Card, banking, prediction markets, international growth, and AI tools like Cortex. But they promised strong returns on that spending. Internationally, they now have 750,000 customers outside the U.S. and just launched ISAs in the UK. They also own Bitstamp now and trading volumes there have doubled. Robinhood has 11 business lines each doing over $100 million annually. Over 40% of customer assets are in ETFs, retirement accounts, and cash products. This isn’t just a meme stock platform anymore.
Patience Could Pay Off
This earnings report was a classic miss on revenue but beat on profit. Crypto scared the market again because it’s emotional for this stock. But look deeper and Robin hood stock is becoming something much bigger. Crypto is slowing, sure. But net deposits are record high. Gold Card adoption is surging. Prediction markets came out of nowhere and are already massive. Analysts trimmed targets but kept buy ratings because the trajectory is still up. More customers, more products, more deposits. The stock had a rough start to 2026, but product momentum has never been stronger. Short-term noise is loud. The long-term signal is getting clearer. Patience might actually pay off here.