Robinhood Markets (NASDAQ:HOOD) Price Target Cut to $89.00 by Analysts at Barclays

Robinhood Markets (NASDAQ:HOOD) had its target price decreased by research analysts at Barclays from $124.00 to $89.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 21.48% from the stock’s previous close.

Several other equities analysts have also weighed in on the company. The Goldman Sachs Group reduced their price objective on Robinhood Markets from $102.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, March 26th. KeyCorp reduced their price objective on Robinhood Markets from $160.00 to $130.00 and set an “overweight” rating on the stock in a research note on Monday, February 9th. Wolfe Research raised Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $125.00 price objective on the stock in a research note on Monday, February 9th. Mizuho reduced their price objective on Robinhood Markets from $135.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, March 13th. Finally, Keefe, Bruyette & Woods started coverage on Robinhood Markets in a research note on Wednesday. They issued a “market perform” rating and a $75.00 price objective on the stock. Eighteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $113.46.

Robinhood Markets Price Performance

NASDAQ:HOOD traded up $3.61 during mid-day trading on Wednesday, reaching $73.26. The company’s stock had a trading volume of 20,381,594 shares, compared to its average volume of 29,022,449. The company’s fifty day simple moving average is $77.13 and its two-hundred day simple moving average is $108.97. Robinhood Markets has a twelve month low of $33.55 and a twelve month high of $153.86. The stock has a market cap of $65.96 billion, a P/E ratio of 35.46, a P/E/G ratio of 1.63 and a beta of 2.46.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Tuesday, February 10th. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. Robinhood Markets had a return on equity of 22.32% and a net margin of 42.10%.The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the company earned $1.01 EPS. The firm’s quarterly revenue was up 26.5% on a year-over-year basis. Sell-side analysts expect that Robinhood Markets will post 1.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other Robinhood Markets news, insider Steven M. Quirk sold 52,540 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $87.81, for a total transaction of $4,613,537.40. Following the sale, the insider directly owned 27,564 shares in the company, valued at $2,420,394.84. The trade was a 65.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $75.49, for a total value of $754,900.00. Following the sale, the insider owned 452,849 shares in the company, valued at $34,185,571.01. This represents a 2.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 78,404 shares of company stock worth $6,869,400 in the last three months. 14.47% of the stock is owned by insiders.

Institutional Investors Weigh In On Robinhood Markets

A number of institutional investors have recently made changes to their positions in the company. Valley National Advisers Inc. boosted its position in Robinhood Markets by 113.6% during the 3rd quarter. Valley National Advisers Inc. now owns 188 shares of the company’s stock valued at $26,000 after purchasing an additional 100 shares during the period. Golden State Wealth Management LLC boosted its position in Robinhood Markets by 107.6% during the 3rd quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock valued at $27,000 after purchasing an additional 99 shares during the period. Vision Financial Markets LLC boosted its position in Robinhood Markets by 100.0% during the 3rd quarter. Vision Financial Markets LLC now owns 200 shares of the company’s stock valued at $29,000 after purchasing an additional 100 shares during the period. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Robinhood Markets during the 3rd quarter valued at approximately $29,000. Finally, Guerra Advisors Inc acquired a new position in Robinhood Markets during the 3rd quarter valued at approximately $30,000. 93.27% of the stock is currently owned by institutional investors.

Key Robinhood Markets News

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

• Positive Sentiment: Robinhood was selected by the U.S. Treasury (with BNY Mellon) to serve as brokerage and initial trustee for the new Trump Accounts for children — the program includes a dedicated app and seeded deposits that could drive recurring account openings and assets under custody. Robinhood’s Trump Accounts Role Adds Long Term Savings Angle For Investors
• Positive Sentiment: CEO Vlad Tenev highlighted on CNBC that the Trump Accounts put Robinhood in front of the next generation of savers — management commentary helps investors frame revenue/engagement upside from the program. Trump Accounts put Robinhood in front of the next generation of investors, says CEO Vlad Tenev
• Neutral Sentiment: Keefe, Bruyette & Woods started coverage with a “market perform” rating and a $75 price target — implies modest upside from current levels but is not a strong buy signal. Benzinga
• Neutral Sentiment: Jefferies lowered its price target (from $88 to $84) but kept a “buy” rating — shows conviction by some sell?side desks remains, even as estimates are being trimmed. Benzinga
• Negative Sentiment: Several Wall Street firms recently reduced Robinhood price targets — analyst downgrades/target cuts can cap short?term upside and increase volatility. Robinhood (HOOD) Stock Faces Price Target Reductions From Five Wall Street Firms
• Negative Sentiment: Jefferies (and other outlets) published more pessimistic near?term forecasts for HOOD — investor caution may follow if the company can’t quickly convert the Trump Accounts opportunity into visible revenue. Jefferies Financial Group Issues Pessimistic Forecast for Robinhood Markets (NASDAQ:HOOD) Stock Price
• Negative Sentiment: Barclays downgraded Coinbase citing weak crypto volumes — a reminder that industry?wide crypto trading softness would hurt Robinhood’s crypto revenue and margins even as its retail product lineup expands. Coinbase downgraded at Barclays as weak crypto volumes pressure profitability

Robinhood Markets Company Profile

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.