Mizuho Issues Positive Forecast for Robinhood Markets (NASDAQ:HOOD) Stock Price

Robinhood Markets (NASDAQ:HOOD) had its price objective raised by Mizuho from $65.00 to $80.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also recently weighed in on the company. Cantor Fitzgerald dropped their price target on Robinhood Markets from $62.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Needham & Company LLC reissued a “buy” rating and issued a $71.00 price objective on shares of Robinhood Markets in a research report on Tuesday, May 27th. JPMorgan Chase & Co. lifted their target price on shares of Robinhood Markets from $44.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. Wolfe Research cut Robinhood Markets from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Finally, Redburn Atlantic reiterated a “sell” rating and set a $48.00 target price (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Robinhood Markets has an average rating of “Moderate Buy” and an average price target of $58.00.

Robinhood Markets Price Performance

Shares of HOOD stock opened at $74.95 on Tuesday. The stock has a market cap of $66.37 billion, a P/E ratio of 42.59, a P/E/G ratio of 4.53 and a beta of 2.25. The company has a fifty day moving average price of $57.73 and a two-hundred day moving average price of $49.26. Robinhood Markets has a one year low of $13.98 and a one year high of $77.80.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). The business had revenue of $927.00 million for the quarter, compared to the consensus estimate of $917.12 million. Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. The company’s revenue for the quarter was up 50.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.18 EPS. As a group, equities research analysts anticipate that Robinhood Markets will post 1.35 EPS for the current fiscal year.

Insider Activity

In other Robinhood Markets news, Director Baiju Bhatt sold 223,528 shares of the business’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $43.21, for a total transaction of $9,658,644.88. Following the completion of the transaction, the director now owns 5,042 shares of the company’s stock, valued at approximately $217,864.82. The trade was a 97.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $34.51, for a total transaction of $201,987.03. Following the completion of the transaction, the chief technology officer now directly owns 5,853 shares of the company’s stock, valued at $201,987.03. This trade represents a 50.00% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,650,974 shares of company stock worth $142,977,123. 19.95% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MetLife Investment Management LLC lifted its stake in shares of Robinhood Markets by 1.5% in the 4th quarter. MetLife Investment Management LLC now owns 11,806 shares of the company’s stock valued at $440,000 after acquiring an additional 171 shares during the last quarter. Cigna Investments Inc. New increased its holdings in Robinhood Markets by 2.7% in the 1st quarter. Cigna Investments Inc. New now owns 6,730 shares of the company’s stock worth $280,000 after purchasing an additional 174 shares in the last quarter. Hemington Wealth Management raised its position in Robinhood Markets by 52.2% in the first 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 last quarter. Dorsey & Whitney Trust CO LLC boosted its stake in shares of Robinhood Markets by 2.4% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock valued at $368,000 after purchasing an additional 233 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of Robinhood Markets by 4.0% during the first quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company’s stock valued at $290,000 after purchasing an additional 265 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

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.