NEW YORK, May 14, 2026, 14:06 (EDT)
Robinhood Markets shares picked up roughly 5% Thursday, as fresh April numbers showed a bump in customer assets, deposits, and stock-trading activity. The report helped take the edge off worries about sluggish crypto trading weighing on the company.
Shares climbed 5.3% to $80.79, after briefly reaching $81.89 earlier in the session. Roughly 19 million shares changed hands.
This shift is notable. Robinhood’s first-quarter numbers last month had left questions hanging over whether retail trading revenue could hold up. But April brought new figures—equities, options, margin lending, event contracts—all saw growth, though crypto’s performance stayed patchy.
Robinhood reported platform assets of $345.4 billion as of April’s close, marking a 12% increase from March and a jump of 49% year-over-year. The number of funded customers climbed to 27.6 million. Net deposits hit $6.0 billion for the month, which works out to a 23% annualized growth rate compared with March platform assets.
Equity notional trading hit $248.5 billion, climbing 15% over March. Options contracts traded reached 224.8 million, a 9% increase. But crypto notional volume slid 33% to $11.9 billion, pressured by Bitstamp’s 46% decline. Event contracts — those straightforward, yes-or-no wagers on real-world outcomes — moved up 7% to 3.2 billion.
Deutsche Bank kept its Buy rating and $86 price target following Robinhood’s April data, noting that although crypto trading slowed down, equities and options held up well and net-interest trends saw a minor improvement. According to the firm, April’s performance was consistent with its second-quarter EPS estimate of 43 cents—still above the 40-cent consensus cited in the note.
Robinhood’s April data backed up what Chief Financial Officer Shiv Verma said during the company’s April 28 first-quarter earnings call. “Q2 is off to a good start in April,” Verma noted, pointing out that equity and options volumes were on pace for their best month so far this year. GlobeNewswire
Still, the rebound could end up looking thin. Robinhood’s crypto volume dropped 37% year over year, and first-quarter crypto revenue slid to $134 million, a 47% decline. Last month, Reuters said Robinhood fell short on both profit and revenue targets because weaker crypto trading weighed on volume growth.
Competition isn’t standing still. Charles Schwab reported Thursday that its daily average trades hit a new peak in April—10.3 million. Client assets climbed to $12.61 trillion, highlighting just how massive a rival Robinhood faces in the retail brokerage space.
Interactive Brokers on Thursday rolled out a unified platform for prediction markets, letting clients tap into Kalshi, CME Group, and ForecastEx. This move puts another heavyweight brokerage squarely in the space Robinhood’s been eyeing.
Investors zeroed in on Robinhood’s margin and cash balances, likely because of shifting rate bets. Kalshi’s Fed page pegged a 70% implied probability that rates won’t be cut in 2026, and Polymarket’s read was nearly the same, at 72%. Higher-for-longer rates generally help brokerage net interest income, but those probabilities can shift fast.
April delivered a clearer narrative for Robinhood than its recent earnings miss: retail investors were busy, deposits continued to flow, and fresh offerings like event contracts saw steady growth. The real question is whether that combination sticks if crypto remains sluggish and bigger brokerage firms ramp up efforts to target the same clients.
