Barclays Issues Positive Forecast for Robinhood Markets (NASDAQ:HOOD) Stock Price

Robinhood Markets (NASDAQ:HOOD) had its target price upped by Barclays from $162.00 to $168.00 in a report issued on Thursday,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other equities research analysts have also recently weighed in on the company. Needham & Company LLC boosted their price objective on Robinhood Markets from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, September 30th. Weiss Ratings restated a “hold (c)” rating on shares of Robinhood Markets in a research note on Wednesday, October 8th. Piper Sandler reaffirmed an “overweight” rating and issued a $140.00 target price (up from $120.00) on shares of Robinhood Markets in a report on Tuesday, September 23rd. CICC Research began coverage on Robinhood Markets in a research note on Monday, October 27th. They set an “outperform” rating and a $155.00 price target for the company. Finally, Cantor Fitzgerald increased their target price on Robinhood Markets from $100.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Fourteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus target price of $132.65.

Robinhood Markets Stock Performance

Shares of HOOD stock traded up $3.28 during trading hours on Thursday, reaching $130.36. The company had a trading volume of 44,725,860 shares, compared to its average volume of 26,853,568. The stock has a fifty day moving average of $129.58 and a 200-day moving average of $98.91. The company has a market capitalization of $115.85 billion, a price-to-earnings ratio of 65.50, a PEG ratio of 3.22 and a beta of 2.42. Robinhood Markets has a 12-month low of $29.21 and a 12-month high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.20. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.15 billion. Robinhood Markets had a net margin of 52.19% and a return on equity of 22.13%. The firm’s revenue for the quarter was up 100.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.17 EPS. On average, analysts forecast that Robinhood Markets will post 1.35 EPS for the current year.

Insiders Place Their Bets

In other news, insider Steven M. Quirk sold 60,113 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $100.91, for a total value of $6,066,002.83. Following the completion of the sale, the insider owned 94,454 shares of the company’s stock, valued at $9,531,353.14. This trade represents a 38.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total transaction of $104,797,500.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,385,742 shares of company stock worth $403,923,453 over the last three months. Company insiders own 14.47% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in Robinhood Markets by 124.0% in the first quarter. Principal Financial Group Inc. now owns 261,457 shares of the company’s stock valued at $10,882,000 after buying an additional 144,725 shares during the period. OneDigital Investment Advisors LLC bought a new position in shares of Robinhood Markets in the first quarter valued at $408,000. Concurrent Investment Advisors LLC raised its holdings in shares of Robinhood Markets by 181.6% in the 1st quarter. Concurrent Investment Advisors LLC now owns 20,162 shares of the company’s stock valued at $839,000 after purchasing an additional 13,002 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Robinhood Markets by 30.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 328,511 shares of the company’s stock worth $13,673,000 after acquiring an additional 75,745 shares during the period. Finally, TD Private Client Wealth LLC increased its holdings in shares of Robinhood Markets by 184.4% in the first quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company’s stock valued at $76,000 after purchasing an additional 1,186 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

About Robinhood Markets

Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. The company offers fractional trading, recurring investments, fully-paid securities lending, access to investing on margin, cash sweep, instant withdrawals, retirement program, around-the-clock trading, and initial public offerings participation services.