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

Robinhood Markets (NASDAQ:HOOD) had its price objective upped by JMP Securities from $130.00 to $170.00 in a report published on Thursday,Benzinga reports. The firm currently has a market outperform rating on the stock.

A number of other equities research analysts also recently issued reports on HOOD. The Goldman Sachs Group increased their price objective on shares of Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. Needham & Company LLC increased their price objective on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. Barclays increased their price objective on shares of Robinhood Markets from $102.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Mizuho increased their price objective on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 10th. Finally, Morgan Stanley increased their price objective on shares of Robinhood Markets from $110.00 to $146.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 1st. Twelve equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Robinhood Markets has an average rating of “Moderate Buy” and an average price target of $118.94.

Robinhood Markets Stock Performance

HOOD stock opened at $138.96 on Thursday. The company’s 50-day simple moving average is $118.70 and its 200 day simple moving average is $86.09. Robinhood Markets has a 52 week low of $23.00 and a 52 week high of $153.86. 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 (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.12. The firm had revenue of $989.00 million for the quarter, compared to the consensus estimate of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The business’s revenue for the quarter was up 45.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 earnings per share. On average, analysts forecast that Robinhood Markets will post 1.35 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total value of $104,797,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $99.97, for a total transaction of $22,493,250.00. Following the completion of the transaction, the insider owned 591,887 shares of the company’s stock, valued at approximately $59,170,943.39. This trade represents a 27.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,681,122 shares of company stock worth $618,215,681 in the last 90 days. Corporate insiders own 14.47% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. raised its holdings in Robinhood Markets by 120.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock valued at $25,000 after buying an additional 148 shares during the last quarter. Hemington Wealth Management raised its holdings in 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 purchasing an additional 218 shares during the last quarter. Smithfield Trust Co bought a new position in Robinhood Markets during the 2nd quarter worth approximately $29,000. Wayfinding Financial LLC bought a new position in Robinhood Markets during the 1st quarter worth approximately $30,000. Finally, Pandora Wealth Inc. bought a new position in Robinhood Markets during the 1st quarter worth approximately $33,000. 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.