Is Robinhood Stock A Buy Before Q2 Earnings Drop Wednesday?

Robinhood (HOOD) is set to report its second-quarter 2026 earnings on July 29 after market close, with Wall Street watching closely.

HOOD stock is currently trading at $95.07, down 15% year-to-date, with weakness in the crypto market weighing on the price. The average analyst price target sits at $121.25, implying roughly 27% upside from current levels.

Robinhood Markets, Inc., HOOD

Wall Street is expecting EPS of $0.43 for Q2 2026, reflecting 2.4% year-over-year growth. Revenue is estimated to come in at $1.29 billion, representing more than 30% year-over-year growth.

That 30% growth figure is worth noting in context. It would be a slowdown from the 45% revenue growth Robinhood posted in the same quarter last year.

Last quarter, Robinhood missed revenue expectations, reporting $1.07 billion — up 15.1% year-over-year. The company also missed EBITDA estimates and reported 27.4 million users, up 6.2% year-over-year.

Options traders are pricing in a move of about 10.8% in either direction following the Q2 report. That’s above HOOD’s average post-earnings move of 8.96% over the past four quarters.

Analysts have largely held their estimates steady over the last 30 days, suggesting they expect the business to track in line with expectations heading into the print.

Analyst Price Target Upgrades

KeyBanc analyst Alex Markgraff raised his price target on HOOD to $125 from $100, keeping a Buy rating. He pointed to improving fundamentals, though he noted HOOD is not his top earnings pick right now.

Markgraff flagged progress on the CLARITY Act as a potential catalyst that could lift sentiment on Robinhood and other digital asset names like Coinbase (COIN) and Circle (CRCL).

Needham analyst John Todaro also lifted his price target to $123 from $97, reaffirming a Buy. Todaro cited strength across equities, options, event contracts, and a rebound in crypto activity in the latest monthly data.

Todaro raised his estimates for equities, options, crypto, and event contracts for Q2, along with revenue forecasts for 2026 and 2027. He views Robinhood as leading the push to become a “financial super app.”

Wall Street Consensus

Wall Street currently holds a Strong Buy consensus on HOOD, with 16 Buy ratings and 3 Holds.

Peers in the consumer internet space have already reported, with mixed reactions. Alphabet (GOOGL) posted 24.2% revenue growth and beat estimates by 2.2%, yet the stock fell 7.1%. Netflix (NFLX) reported revenue growth of 13.4%, in line with estimates, and dropped 7.3%.

Investors in the broader consumer internet segment are heading into earnings with prices up 1.2% on average over the past month. HOOD is down 6.6% in that same window.

The Q2 earnings report drops July 29 after the bell.