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

Robinhood Markets (NASDAQ:HOOD) had its price objective upped by Citigroup from $25.00 to $45.00 in a report published on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages also recently weighed in on HOOD. Sanford C. Bernstein upped their price objective on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. KeyCorp increased their price target on Robinhood Markets from $30.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Barclays raised Robinhood Markets from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $26.00 to $49.00 in a research note on Monday, December 9th. The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $40.00 to $46.00 in a report on Friday, December 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $52.00 target price (up previously from $40.00) on shares of Robinhood Markets in a research report on Monday, December 9th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $42.13.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock opened at $40.08 on Friday. The stock has a market cap of $35.43 billion, a PE ratio of 67.93, a price-to-earnings-growth ratio of 0.81 and a beta of 2.07. The firm has a fifty day moving average price of $36.99 and a 200 day moving average price of $27.42. Robinhood Markets has a 1 year low of $10.38 and a 1 year high of $43.83.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The firm had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. During the same period in the previous year, the business earned ($0.09) EPS. Robinhood Markets’s revenue for the quarter was up 36.4% compared to the same quarter last year. As a group, equities analysts expect that Robinhood Markets will post 0.8 EPS for the current year.

Insider Transactions at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of Robinhood Markets stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $42.64, for a total transaction of $250,552.64. Following the sale, the chief technology officer now owns 5,876 shares of the company’s stock, valued at approximately $250,552.64. The trade was a 50.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Baiju Bhatt sold 98,404 shares of the stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $26.40, for a total value of $2,597,865.60. Following the completion of the transaction, the director now owns 2,521 shares of the company’s stock, valued at $66,554.40. The trade was a 97.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,708,196 shares of company stock worth $138,845,043 in the last quarter. Company insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

Institutional investors and hedge funds have recently bought and sold shares of the stock. HM Payson & Co. increased its position in shares of Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after acquiring an additional 410 shares during the last quarter. True Wealth Design LLC acquired a new position in Robinhood Markets during the third quarter worth $30,000. Eastern Bank purchased a new position in shares of Robinhood Markets during the third quarter worth $30,000. ORG Wealth Partners LLC acquired a new stake in shares of Robinhood Markets in the third quarter valued at $33,000. Finally, Connective Portfolio Management LLC purchased a new stake in shares of Robinhood Markets in the 3rd quarter valued at $47,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Company Profile

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.