Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $157.00

Robinhood Markets (NASDAQ:HOOD) had its target price hoisted by Bank of America from $139.00 to $157.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts have also recently commented on HOOD. Barclays lifted their target price on shares of Robinhood Markets from $102.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Keefe, Bruyette & Woods lifted their price objective on Robinhood Markets from $89.00 to $106.00 and gave the stock a “market perform” rating in a report on Thursday, July 31st. JMP Securities boosted their target price on Robinhood Markets from $125.00 to $130.00 and gave the company a “market outperform” rating in a research note on Thursday, July 31st. Redburn Atlantic restated a “sell” rating and set a $48.00 price target (up from $40.00) on shares of Robinhood Markets in a research report on Monday, June 9th. Finally, Mizuho lifted their price target on Robinhood Markets from $120.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 10th. Twelve 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 presently has a consensus rating of “Moderate Buy” and an average price target of $113.59.

Robinhood Markets Trading Up 2.0%

Shares of NASDAQ HOOD opened at $148.67 on Thursday. The stock has a market cap of $132.12 billion, a price-to-earnings ratio of 75.47, a P/E/G ratio of 4.13 and a beta of 2.42. The stock’s 50-day moving average is $114.45 and its 200 day moving average is $82.60. Robinhood Markets has a 1-year low of $22.61 and a 1-year high of $150.21.

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

Insider Buying and Selling at Robinhood Markets

In other news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total transaction of $104,797,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Baiju Bhatt sold 1,568,421 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $99.98, for a total value of $156,810,731.58. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,656,462 shares of company stock valued at $614,224,917. Insiders own 14.47% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

A number of institutional investors have recently modified their holdings of HOOD. Vanguard Group Inc. raised its position in shares of Robinhood Markets by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 75,612,131 shares of the company’s stock worth $7,079,564,000 after purchasing an additional 1,371,051 shares during the last quarter. State Street Corp increased its stake in Robinhood Markets by 9.2% during the 2nd quarter. State Street Corp now owns 15,870,421 shares of the company’s stock valued at $1,485,948,000 after purchasing an additional 1,341,204 shares in the last quarter. Geode Capital Management LLC raised its holdings in Robinhood Markets by 4.0% in the second quarter. Geode Capital Management LLC now owns 13,176,539 shares of the company’s stock worth $1,233,840,000 after buying an additional 507,926 shares during the last quarter. WCM Investment Management LLC lifted its stake in shares of Robinhood Markets by 3,615.7% in the second quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock worth $1,081,910,000 after buying an additional 11,244,182 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Robinhood Markets during the second quarter valued at approximately $973,122,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

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.