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

Robinhood Markets (NASDAQ:HOOD) had its target price hoisted by Mizuho from $80.00 to $99.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

HOOD has been the subject of a number of other reports. JMP Securities reiterated a “market outperform” rating and issued a $70.00 price target on shares of Robinhood Markets in a report on Thursday, May 1st. Cantor Fitzgerald boosted their target price on shares of Robinhood Markets from $89.00 to $100.00 and gave the company an “overweight” rating in a research note on Tuesday. Barclays dropped their target price on shares of Robinhood Markets from $76.00 to $45.00 and set an “overweight” rating on the stock in a report on Monday, April 7th. Redburn Atlantic reaffirmed a “sell” rating and issued a $48.00 price target (up from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $60.00 price objective on shares of Robinhood Markets in a research report on Thursday, March 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Robinhood Markets currently has a consensus rating of “Moderate Buy” and an average target price of $69.00.

Robinhood Markets Stock Performance

HOOD opened at $92.33 on Tuesday. The company has a market capitalization of $81.75 billion, a P/E ratio of 52.46, a PEG ratio of 5.52 and a beta of 2.36. The company has a 50-day moving average of $65.93 and a 200-day moving average of $52.31. Robinhood Markets has a 1-year low of $13.98 and a 1-year high of $99.18.

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). Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. The firm had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. During the same quarter last year, the business posted $0.18 earnings per share. The firm’s revenue for the quarter was up 50.0% on a year-over-year basis. As a group, sell-side analysts expect that Robinhood Markets will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, insider Steven M. Quirk sold 104,887 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $70.14, for a total value of $7,356,774.18. Following the sale, the insider owned 228,621 shares in the company, valued at approximately $16,035,476.94. This trade represents a 31.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christopher D. Payne purchased 26,500 shares of the business’s stock in a transaction dated Friday, June 13th. The shares were acquired at an average cost of $74.19 per share, for a total transaction of $1,966,035.00. Following the acquisition, the director owned 26,500 shares of the company’s stock, valued at approximately $1,966,035. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders sold 1,722,691 shares of company stock valued at $107,708,726 in the last ninety days. Company insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in HOOD. IFP Advisors Inc raised its stake in shares of Robinhood Markets by 601.1% during the fourth quarter. IFP Advisors Inc now owns 4,396 shares of the company’s stock valued at $164,000 after purchasing an additional 3,769 shares in the last quarter. Wealthcare Advisory Partners LLC bought a new stake in shares of Robinhood Markets during the 1st quarter worth about $277,000. Charles Schwab Investment Management Inc. raised its position in shares of Robinhood Markets by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock worth $175,857,000 after buying an additional 138,267 shares in the last quarter. Aigen Investment Management LP lifted its stake in shares of Robinhood Markets by 161.2% in the 4th quarter. Aigen Investment Management LP now owns 85,868 shares of the company’s stock worth $3,199,000 after acquiring an additional 52,988 shares during the period. Finally, Fiduciary Alliance LLC bought a new position in shares of Robinhood Markets in the first quarter valued at approximately $2,177,000. 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.