Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $170.00

Robinhood Markets (NASDAQ:HOOD) had its price target increased by Citizens Jmp from $130.00 to $170.00 in a research report sent to investors on Thursday, Marketbeat.com reports. Citizens Jmp currently has a mkt outperform rating on the stock.

Several other research firms have also recently weighed in on HOOD. KeyCorp raised their price target on Robinhood Markets from $60.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, July 1st. Citigroup raised their price target on Robinhood Markets from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Barclays raised their price target on Robinhood Markets from $102.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Keefe, Bruyette & Woods raised their price target on Robinhood Markets from $89.00 to $106.00 and gave the company a “market perform” rating in a report on Thursday, July 31st. Finally, Piper Sandler restated an “overweight” rating and set a $140.00 price target (up previously from $120.00) on shares of Robinhood Markets in a report on Tuesday, September 23rd. Twelve investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus price target of $118.94.

Robinhood Markets Trading Down 8.9%

Shares of HOOD opened at $138.96 on Thursday. The business’s 50 day moving average is $118.70 and its 200 day moving average is $86.09. The company has a market capitalization of $123.49 billion, a PE ratio of 70.54, a price-to-earnings-growth ratio of 3.86 and a beta of 2.42. Robinhood Markets has a 12-month low of $23.00 and a 12-month high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.12. The company had revenue of $989.00 million for the quarter, compared to the consensus estimate of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The firm’s quarterly revenue was up 45.0% on a year-over-year basis. During the same quarter last year, the company earned $0.21 EPS. Equities research analysts predict that Robinhood Markets will post 1.35 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of Robinhood Markets stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $99.97, for a total value of $22,493,250.00. Following the completion of the transaction, the insider owned 591,887 shares in the company, valued at approximately $59,170,943.39. The trade was a 27.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Meyer Malka sold 1,093,288 shares of Robinhood Markets stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $103.87, for a total value of $113,559,824.56. Following the completion of the transaction, the director owned 3,976,234 shares of the company’s stock, valued at approximately $413,011,425.58. This trade represents a 21.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,681,122 shares of company stock worth $618,215,681 in the last 90 days. Company insiders own 14.47% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently modified their holdings of the business. Hantz Financial Services Inc. lifted its stake 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 worth $25,000 after acquiring an additional 148 shares during the last quarter. Hemington Wealth Management lifted its stake in shares of Robinhood Markets by 52.2% during the 1st quarter. Hemington Wealth Management now owns 636 shares of the company’s stock worth $26,000 after acquiring an additional 218 shares during the last quarter. Smithfield Trust Co bought a new stake in shares of Robinhood Markets during the 2nd quarter worth approximately $29,000. Wayfinding Financial LLC bought a new stake in shares of Robinhood Markets during the 1st quarter worth approximately $30,000. Finally, Pandora Wealth Inc. bought a new stake in shares of Robinhood Markets during the 1st quarter worth approximately $33,000. 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.