Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $20.00

Robinhood Markets (NASDAQ:HOODGet Free Report) had its price target upped by research analysts at Barclays from $18.00 to $20.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Barclays‘s price objective indicates a potential downside of 10.39% from the stock’s previous close.

HOOD has been the topic of a number of other research reports. The Goldman Sachs Group raised their price target on Robinhood Markets from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, April 15th. Citigroup raised their price target on Robinhood Markets from $16.00 to $18.00 and gave the company a “sell” rating in a research report on Thursday, June 13th. Keefe, Bruyette & Woods initiated coverage on Robinhood Markets in a research report on Wednesday, April 3rd. They set a “market perform” rating and a $20.00 price target on the stock. Bank of America upgraded Robinhood Markets from an “underperform” rating to a “buy” rating and raised their price target for the company from $14.00 to $24.00 in a research report on Friday, May 17th. Finally, Mizuho raised their price target on Robinhood Markets from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Robinhood Markets presently has a consensus rating of “Hold” and an average target price of $21.03.

Read Our Latest Analysis on HOOD

Robinhood Markets Stock Performance

Shares of HOOD stock opened at $22.32 on Wednesday. Robinhood Markets has a 52-week low of $7.91 and a 52-week high of $24.28. The company has a market capitalization of $19.62 billion, a PE ratio of 148.80 and a beta of 1.84. The business’s fifty day moving average is $20.94 and its 200 day moving average is $17.03.

Robinhood Markets (NASDAQ:HOODGet Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.13. Robinhood Markets had a return on equity of 1.86% and a net margin of 6.22%. The company had revenue of $618.00 million for the quarter, compared to the consensus estimate of $552.74 million. During the same quarter last year, the business posted ($0.57) earnings per share. The firm’s revenue was up 40.1% compared to the same quarter last year. On average, sell-side analysts forecast that Robinhood Markets will post 0.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other Robinhood Markets news, CFO Jason Warnick sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $16.72, for a total value of $83,600.00. Following the completion of the sale, the chief financial officer now directly owns 997,407 shares in the company, valued at $16,676,645.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Robinhood Markets news, CFO Jason Warnick sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $16.72, for a total value of $83,600.00. Following the completion of the sale, the chief financial officer now directly owns 997,407 shares in the company, valued at $16,676,645.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Baiju Bhatt sold 153,180 shares of Robinhood Markets stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $16.63, for a total transaction of $2,547,383.40. The disclosure for this sale can be found here. Insiders sold 1,494,233 shares of company stock worth $29,762,641 over the last three months. Company insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Several large investors have recently made changes to their positions in HOOD. Norges Bank purchased a new position in shares of Robinhood Markets during the fourth quarter valued at approximately $84,165,000. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Robinhood Markets by 9.4% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 29,205,693 shares of the company’s stock valued at $372,081,000 after purchasing an additional 2,517,012 shares during the last quarter. Nikko Asset Management Americas Inc. lifted its holdings in shares of Robinhood Markets by 9.6% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 28,297,822 shares of the company’s stock valued at $360,514,000 after purchasing an additional 2,486,986 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Robinhood Markets by 4.5% during the third quarter. Vanguard Group Inc. now owns 57,261,184 shares of the company’s stock valued at $561,732,000 after purchasing an additional 2,459,702 shares during the last quarter. Finally, ARK Investment Management LLC lifted its holdings in shares of Robinhood Markets by 6.4% during the fourth quarter. ARK Investment Management LLC now owns 34,936,204 shares of the company’s stock valued at $445,087,000 after purchasing an additional 2,101,325 shares during the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

About Robinhood Markets

(Get Free Report)

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.

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