close
close

Robinhood Markets (NASDAQ:HOOD) price target raised to $20.00

Robinhood Markets (NASDAQ:HOOD) price target raised to .00


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

HOOD has been the subject of a number of other research reports. 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 raised Robinhood Markets from an “underperform” rating to a “buy” rating and raised their price target on 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 given a buy rating to the company. According to data from MarketBeat.com, Robinhood Markets currently has a consensus rating of “Hold” and an average price target of $21.03.

Read our latest analysis on HOOD

Robinhood Markets Stock Performance

Shares of HOOD 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 cap of $19.62 billion, a PE ratio of 148.80 and a beta of 1.84. The company’s 50-day moving average is $20.94 and its 200-day moving average is $17.03.

Robinhood Markets (NASDAQ:HOOD – Get Free Report) last released its quarterly earnings results on Wednesday, May 8. The company reported $0.18 earnings per share (EPS) for the quarter, which topped 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. In the year-ago quarter, the company posted ($0.57) EPS. The company’s revenue increased 40.1% compared to the same quarter last year. On average, sell-side analysts predict 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 company’s stock in a transaction dated Wednesday, May 1. 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 of the company’s stock, valued at $16,676,645.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed at this link. In other Robinhood Markets news, CFO Jason Warnick sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 1. 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 of the company’s stock, valued at $16,676,645.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed at 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 the company’s stock worth $29,762,641 in 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 worth approximately $84,165,000. Sumitomo Mitsui Trust Holdings Inc. increased 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 worth $372,081,000 after purchasing an additional 2,517,012 shares during the last quarter. Nikko Asset Management Americas Inc. increased 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 worth $360,514,000 after purchasing an additional 2,486,986 shares in the last quarter. Vanguard Group Inc. increased its holdings in Robinhood Markets by 4.5% in the third quarter. Vanguard Group Inc. now owns 57,261,184 shares of the company’s stock worth $561,732,000 after purchasing an additional 2,459,702 shares in the last quarter. Finally, ARK Investment Management LLC increased its holdings in Robinhood Markets by 6.4% in the fourth quarter. ARK Investment Management LLC now owns 34,936,204 shares of the company’s stock worth $445,087,000 after purchasing an additional 2,101,325 shares in the last quarter. Currently, 93.27% of the shares are held by hedge funds and other institutional investors.

About Robinhood Markets

(Get free report)

Robinhood Markets, Inc. operates a financial services platform in the United States. The 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 margin investing, cash sweep, instant withdrawals, retirement program, 24-hour trading, and participation in IPOs.

Featured Stories

Analyst Recommendations for Robinhood Markets (NASDAQ:HOOD)



Get daily news and reviews for Robinhood Markets – Enter your email address below to receive a concise daily summary of the latest news and analyst ratings on Robinhood Markets and related companies with MarketBeat.com’s FREE daily email newsletter.