Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $180.00

Robinhood Markets (NASDAQ:HOOD) had its price target increased by Citizens Jmp from $170.00 to $180.00 in a research report sent to investors on Friday,Benzinga reports. Citizens Jmp currently has a market outperform rating on the stock.

A number of other equities analysts have also recently weighed in on the company. Keefe, Bruyette & Woods upped their price target on Robinhood Markets from $121.00 to $135.00 and gave the stock a “market perform” rating in a report on Thursday. Compass Point reissued a “buy” rating on shares of Robinhood Markets in a research note on Monday, October 27th. Citigroup increased their price objective on shares of Robinhood Markets from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. JMP Securities increased their price target on Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a report on Thursday, October 9th. Finally, 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 objective on the stock. Fourteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $132.65.

Robinhood Markets Stock Up 2.4%

Shares of Robinhood Markets stock traded up $3.09 on Friday, reaching $133.45. 14,506,926 shares of the stock were exchanged, compared to its average volume of 40,280,695. Robinhood Markets has a twelve month low of $29.66 and a twelve month high of $153.86. The firm has a market capitalization of $118.59 billion, a price-to-earnings ratio of 55.22, a PEG ratio of 3.05 and a beta of 2.42. The business has a 50 day moving average price of $130.11 and a two-hundred day moving average price of $100.33.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.20. Robinhood Markets had a net margin of 52.19% and a return on equity of 22.13%. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the business earned $0.17 earnings per share. The business’s quarterly revenue was up 100.0% compared to the same quarter last year. Research analysts forecast that Robinhood Markets will post 1.35 EPS for the current year.

Insider Buying and Selling

In other news, Director Baiju Bhatt sold 418,338 shares of the firm’s stock in a transaction on Tuesday, October 21st. The stock was sold at an average price of $133.11, for a total transaction of $55,684,971.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $145.95, for a total value of $3,648,750.00. Following the completion of the sale, the insider owned 540,949 shares in the company, valued at $78,951,506.55. This represents a 4.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,385,742 shares of company stock valued at $403,923,453 over the last quarter. 19.95% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors have recently modified their holdings of the business. Principal Financial Group Inc. boosted its holdings 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 purchasing an additional 144,725 shares during the period. OneDigital Investment Advisors LLC acquired a new stake in shares of Robinhood Markets in the first quarter valued at approximately $408,000. Envestnet Asset Management Inc. increased its holdings in shares of Robinhood Markets by 30.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 328,511 shares of the company’s stock valued at $13,673,000 after acquiring an additional 75,745 shares during the period. TD Private Client Wealth LLC raised its position in Robinhood Markets by 184.4% in the 1st 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. Finally, M&T Bank Corp boosted its stake in Robinhood Markets by 12.1% during the 1st quarter. M&T Bank Corp now owns 34,042 shares of the company’s stock worth $1,417,000 after purchasing an additional 3,663 shares during the period. Institutional investors and hedge funds 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.