Robinhood Markets (NASDAQ:HOOD) Trading Up 2.8% on Analyst Upgrade

Robinhood Markets, Inc. (NASDAQ:HOOD) traded up 2.8% during trading on Thursday after Argus raised their price target on the stock from $90.00 to $110.00. Argus currently has a buy rating on the stock. Robinhood Markets traded as high as $109.08 and last traded at $108.15. Approximately 38,799,265 shares were traded during trading, an increase of 27% from the average daily volume of 30,468,697 shares. The stock had previously closed at $105.20.

HOOD has been the subject of a number of other research reports. Citigroup restated a “market outperform” rating on shares of Robinhood Markets in a report on Thursday, May 28th. Barclays lowered their target price on Robinhood Markets from $89.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Morgan Stanley dropped their target price on Robinhood Markets from $147.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Friday, April 10th. Keefe, Bruyette & Woods cut their target price on shares of Robinhood Markets from $75.00 to $65.00 and set a “market perform” rating for the company in a research note on Wednesday, April 29th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $110.00 price objective on shares of Robinhood Markets in a report on Tuesday, June 9th. Eighteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $112.36.

Insider Buying and Selling

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of Robinhood Markets stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $76.89, for a total value of $768,900.00. Following the sale, the insider owned 432,849 shares of the company’s stock, valued at approximately $33,281,759.61. The trade was a 2.26% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Baiju Bhatt sold 67,422 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $75.38, for a total transaction of $5,082,270.36. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders bought 680,000 shares of company stock worth $55,306,560 and sold 633,484 shares worth $47,542,923. Company insiders own 14.47% of the company’s stock.

Trending Headlines about Robinhood Markets

Here are the key news stories impacting Robinhood Markets this week:

• Positive Sentiment: Robinhood announced a 10% workforce reduction aimed at becoming leaner and improving operating efficiency, which investors are viewing as margin supportive. Robinhood Culls 300 in 10% Headcount Cut as Fintechs Retrench
• Positive Sentiment: Wall Street sentiment improved after Argus raised its price target to $110 and maintained a Buy rating, reinforcing confidence in Robinhood’s growth outlook. Analyst hikes Robinhood price target after job cuts
• Positive Sentiment: Robinhood’s record June trading volumes suggest strong user activity and continued demand across its platform. Stock Market Today, June 17: Robinhood Jumps After Announcing 10% Workforce Reduction, Record June Volumes
• Neutral Sentiment: Robinhood remains tied to broader crypto and retail-trading enthusiasm, with some articles highlighting growth from prediction markets and potential future product catalysts. Is the SpaceX IPO Enough to Rescue Robinhood Stock?
• Negative Sentiment: ARK Invest sold additional Robinhood shares into the rally, which may weigh on sentiment even as the stock has been advancing. Cathie Wood’s ARK Dumps Another $26.7M Of Robinhood Despite HOOD Stock’s 36% Monthly Surge

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sound Income Strategies LLC raised its position in shares of Robinhood Markets by 152.6% in the 4th quarter. Sound Income Strategies LLC now owns 240 shares of the company’s stock valued at $26,000 after purchasing an additional 145 shares in the last quarter. CYBER HORNET ETFs LLC lifted its stake in Robinhood Markets by 527.8% in the fourth quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company’s stock valued at $26,000 after buying an additional 190 shares during the last quarter. Elyxium Wealth LLC acquired a new position in shares of Robinhood Markets during the fourth quarter worth approximately $27,000. MV Capital Management Inc. bought a new position in Robinhood Markets in the 4th quarter valued at about $27,000. Finally, Swiss RE Ltd. acquired a new position in shares of Robinhood Markets during the 4th quarter valued at $27,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Trading Up 2.8%

The business’s fifty day moving average is $81.94 and its 200 day moving average is $91.51. The firm has a market capitalization of $97.39 billion, a P/E ratio of 52.25, a P/E/G ratio of 2.42 and a beta of 2.35.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Tuesday, April 28th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.01). The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.14 billion. Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.The business’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period last year, the business earned $0.37 EPS. As a group, sell-side analysts predict that Robinhood Markets, Inc. will post 1.83 earnings per share for the current fiscal year.

Robinhood Markets Company Profile

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.