Robinhood Markets, Inc. (NASDAQ:HOOD) Given Average Rating of “Moderate Buy” by Analysts

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) have been given an average recommendation of “Moderate Buy” by the twenty-three ratings firms that are covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and eighteen have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $112.3636.

A number of equities analysts have recently commented on HOOD shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $110.00 target price on shares of Robinhood Markets in a report on Tuesday, June 9th. JPMorgan Chase & Co. dropped their target price on Robinhood Markets from $113.00 to $92.00 and set a “neutral” rating for the company in a report on Thursday, April 23rd. Argus lifted their target price on Robinhood Markets from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, June 17th. Truist Financial dropped their target price on Robinhood Markets from $120.00 to $100.00 and set a “buy” rating for the company in a report on Monday, April 13th. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $155.00 target price on shares of Robinhood Markets in a report on Thursday, May 28th.

Insider Activity

In related news, Director Baiju Bhatt sold 57,898 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $89.63, for a total transaction of $5,189,397.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Shiv Verma sold 3,984 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $98.84, for a total value of $393,778.56. Following the sale, the chief financial officer directly owned 59,927 shares of the company’s stock, valued at $5,923,184.68. This represents a 6.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders purchased 680,000 shares of company stock worth $55,306,560 and sold 633,484 shares worth $47,542,923. 19.95% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Robinhood Markets

A number of institutional investors and hedge funds have recently modified their holdings of HOOD. Evolution Wealth Advisors LLC raised its holdings in shares of Robinhood Markets by 5.2% during the fourth quarter. Evolution Wealth Advisors LLC now owns 1,916 shares of the company’s stock valued at $217,000 after acquiring an additional 95 shares during the last quarter. CogentBlue Wealth Advisors LLC raised its holdings in shares of Robinhood Markets by 4.1% during the fourth quarter. CogentBlue Wealth Advisors LLC now owns 2,489 shares of the company’s stock valued at $282,000 after acquiring an additional 98 shares during the last quarter. Kovack Advisors Inc. raised its holdings in shares of Robinhood Markets by 2.5% during the third quarter. Kovack Advisors Inc. now owns 4,121 shares of the company’s stock valued at $590,000 after acquiring an additional 100 shares during the last quarter. SOA Wealth Advisors LLC. raised its holdings in shares of Robinhood Markets by 11.5% during the fourth quarter. SOA Wealth Advisors LLC. now owns 968 shares of the company’s stock valued at $109,000 after acquiring an additional 100 shares during the last quarter. Finally, Mill Creek Capital Advisors LLC raised its holdings in shares of Robinhood Markets by 1.8% during the third quarter. Mill Creek Capital Advisors LLC now owns 6,107 shares of the company’s stock valued at $874,000 after acquiring an additional 107 shares during the last quarter. 93.27% of the stock is owned by institutional investors.

Robinhood Markets Stock Performance

Shares of Robinhood Markets stock opened at $108.15 on Monday. The stock has a market cap of $97.39 billion, a price-to-earnings ratio of 52.25, a price-to-earnings-growth ratio of 2.54 and a beta of 2.35. The stock has a 50 day moving average price of $83.43 and a 200-day moving average price of $91.26. Robinhood Markets has a one year low of $63.51 and a one year high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Tuesday, April 28th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.Robinhood Markets’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.37 EPS. Sell-side analysts predict that Robinhood Markets will post 1.81 earnings per share for the current fiscal year.

Trending Headlines about Robinhood Markets

Here are the key news stories impacting Robinhood Markets this week:

• Positive Sentiment: Robinhood said its new “AI Trading” feature has already attracted more than 50,000 users in just weeks, with the product helping drive millions of daily interactions and reinforcing the company’s growth narrative. Robinhood Stock Spikes as AI Trading Tops 50,000 Users in Weeks
• Positive Sentiment: Shares have also been supported by record June trading volumes and analyst upgrades/raised price targets after Robinhood announced a 10% workforce reduction, which investors read as a move to improve margins and streamline operations. Stock Market Today, June 17: Robinhood Jumps After Announcing 10% Workforce Reduction, Record June Volumes
• Positive Sentiment: Momentum traders are also focused on the stock’s technical breakout potential after it outperformed the broader market and moved sharply higher on heavy volume. Stock Of The Day: Will Robinhood Break Out?
• Neutral Sentiment: Commentary on Robinhood’s valuation suggests the stock is expensive, so even with strong growth, expectations are high and any slowdown could make the shares vulnerable. 2 High-Flying Stocks Worth Your Attention and 1 We Question
• Negative Sentiment: Cathie Wood’s ARK has been trimming Robinhood holdings into the rally, which may create some short-term supply pressure and signals that not all big investors are chasing the move. Cathie Wood’s Ark Invest Sells Robinhood Stock Into 8% Rally, Loads Up On Coinbase And Block

About Robinhood Markets

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.