On July 31, Robinhood declined 3.04% in regular trading, trading at $84.24 per share with turnover of $606 million. The stock extended its post-earnings selloff as multiple analyst target price cuts weighed on sentiment.

On the news front, Barclays slashed its price target on Robinhood from $122 to $105 while maintaining an Overweight rating, representing a significant 14% reduction. Deutsche Bank also lowered its target to $114 from $120. While Q2 results released on July 29 showed EPS of $0.62 beating the $0.42 consensus by 48% and revenue of $1.31 billion exceeding the $1.28 billion estimate, the market views the stock as having already priced in optimism. Part of the EPS beat was attributed to one-time investment gains, raising quality concerns. Additionally, management narrowed full-year adjusted operating expense and SBC guidance to $26.75-$27.75 billion, intensifying investor worries about the earnings outlook. The selloff has also been compounded by Ark Invest's cumulative reduction of over $22 million in Robinhood shares in recent weeks and a director selling approximately $4.68 million in stock.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)