Robinhood fell more than 10% in premarket trading, but JMP raised its price target to $33

Market data shows that Robinhood's stock price fell more than 10% pre-market, possibly due to Q3 net revenue that was lower than expected. As of press time, HOOD's pre-market trading price was $25.13 per share, down 10.92% from yesterday's closing price. However, brokerage firm JMP raised its Robinhood target price from $30 to $33. Robinhood's third-quarter earnings per share were $0.17, while analysts expected $0.18; net revenue in the third quarter was $637 million, while analysts expected $663.5 million; monthly active users in the third quarter were 11 million, while analysts expected 12.26 million; transaction-based revenue in the third quarter was $319 million, while analysts expected $333.2 million. (Coindesk)