Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $76.00 at Barclays

Robinhood Markets (NASDAQ:HOOD) had its target price lifted by Barclays from $54.00 to $76.00 in a research report sent to investors on Thursday,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other brokerages have also recently issued reports on HOOD. KeyCorp lifted their price objective on Robinhood Markets from $50.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. upgraded shares of Robinhood Markets from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $20.00 to $43.00 in a research note on Tuesday, January 7th. Needham & Company LLC increased their price target on Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Mizuho lifted their price objective on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $58.07.

Robinhood Markets Stock Performance

Shares of HOOD stock opened at $65.28 on Thursday. The firm has a fifty day moving average of $45.45 and a 200-day moving average of $32.52. Robinhood Markets has a 52-week low of $13.04 and a 52-week high of $66.91. The stock has a market cap of $57.71 billion, a price-to-earnings ratio of 110.65, a P/E/G ratio of 0.73 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. On average, sell-side analysts predict that Robinhood Markets will post 0.97 earnings per share for the current year.

Insider Activity

In other Robinhood Markets news, Director Baiju Bhatt sold 90,866 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $55.34, for a total value of $5,028,524.44. Following the transaction, the director now owns 5,042 shares of the company’s stock, valued at approximately $279,024.28. This represents a 94.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Meyer Malka sold 1,535,681 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total value of $61,596,164.91. Following the transaction, the director now owns 4,974,238 shares of the company’s stock, valued at $199,516,686.18. The trade was a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,948,427 shares of company stock valued at $165,005,244 in the last 90 days. 19.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Robinhood Markets

A number of hedge funds and other institutional investors have recently made changes to their positions in HOOD. Toronto Dominion Bank raised its stake in Robinhood Markets by 31.1% during the 3rd quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock worth $1,602,000 after buying an additional 16,219 shares during the period. Everence Capital Management Inc. bought a new stake in shares of Robinhood Markets in the fourth quarter worth about $634,000. Atomi Financial Group Inc. raised its position in shares of Robinhood Markets by 20.7% during the fourth quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock worth $20,154,000 after purchasing an additional 92,613 shares during the period. Requisite Capital Management LLC bought a new position in shares of Robinhood Markets during the 4th quarter valued at about $266,000. Finally, Baker Avenue Asset Management LP grew its position in shares of Robinhood Markets by 77.9% in the 3rd quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock valued at $10,874,000 after purchasing an additional 203,354 shares during the period. 93.27% of the stock is owned by institutional investors.

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.