Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $168.00

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

A number of other research analysts have also recently issued reports on HOOD. Compass Point reaffirmed a “buy” rating on shares of Robinhood Markets in a report on Monday, October 27th. Mizuho upped their target price on Robinhood Markets from $145.00 to $172.00 and gave the company an “outperform” rating in a research report on Thursday. JMP Securities raised their target price on Robinhood Markets from $130.00 to $170.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 9th. Bank of America lifted their price target on Robinhood Markets from $139.00 to $157.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Finally, Piper Sandler reiterated an “overweight” rating and set a $140.00 price target (up previously from $120.00) on shares of Robinhood Markets in a research note on Tuesday, September 23rd. Fourteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $132.65.

Robinhood Markets Stock Performance

Shares of HOOD stock opened at $130.36 on Thursday. Robinhood Markets has a fifty-two week low of $29.21 and a fifty-two week high of $153.86. The firm has a market capitalization of $115.85 billion, a price-to-earnings ratio of 54.09, a PEG ratio of 3.31 and a beta of 2.42. The stock’s 50-day simple moving average is $130.11 and its 200-day simple moving average is $99.94.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 EPS 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 analyst estimates of $1.15 billion. Robinhood Markets had a net margin of 52.19% and a return on equity of 22.13%. Robinhood Markets’s revenue was up 100.0% on a year-over-year basis. During the same period last year, the firm posted $0.17 EPS. As a group, equities analysts forecast that Robinhood Markets will post 1.35 earnings per share for the current year.

Insider Activity at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $145.95, for a total value of $3,648,750.00. Following 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the firm’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $146.91, for a total value of $861,480.24. Following the sale, the chief technology officer directly owned 6,088 shares in the company, valued at approximately $894,388.08. This trade represents a 49.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 3,385,742 shares of company stock worth $403,923,453 in the last three months. Company insiders own 14.47% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Hantz Financial Services Inc. increased its holdings in shares of Robinhood Markets by 120.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock valued at $25,000 after purchasing an additional 148 shares in the last quarter. Hemington Wealth Management lifted its stake in shares of Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company’s stock valued at $26,000 after purchasing an additional 218 shares during the period. Valley National Advisers Inc. boosted its holdings in Robinhood Markets by 113.6% during the third quarter. Valley National Advisers Inc. now owns 188 shares of the company’s stock worth $26,000 after buying an additional 100 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings in Robinhood Markets by 107.6% during the third quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock worth $27,000 after buying an additional 99 shares in the last quarter. Finally, Smithfield Trust Co acquired a new stake in Robinhood Markets during the second quarter valued at $29,000. 93.27% of the stock is owned by institutional investors and hedge funds.

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.