Zacks Research lowered shares of Robinhood Markets (NASDAQ:HOOD – Free Report) from a strong-buy rating to a hold rating in a report published on Monday,Zacks reports.
A number of other research firms have also weighed in on HOOD. KeyCorp reduced their target price on Robinhood Markets from $140.00 to $135.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 28th. Barclays lowered their target price on shares of Robinhood Markets from $132.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, October 28th. Bank of America upped their price target on shares of Robinhood Markets from $140.00 to $156.00 and gave the stock a “buy” rating in a report on Monday, October 5th. Evercore began coverage on shares of Robinhood Markets in a report on Monday, October 12th. They issued an “outperform” rating and a $130.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Robinhood Markets in a research note on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $126.45.
Read Our Latest Stock Analysis on Robinhood Markets
Robinhood Markets Stock Performance
NASDAQ HOOD opened at $85.68 on Monday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.24 and a quick ratio of 1.24. Robinhood Markets has a 1-year low of $63.51 and a 1-year high of $144.77. The business has a 50 day simple moving average of $107.65 and a two-hundred day simple moving average of $92.69. The stock has a market capitalization of $77.03 billion, a PE ratio of 39.48, a P/E/G ratio of 1.82 and a beta of 2.56.
Robinhood Markets (NASDAQ:HOOD – Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.44 billion. Robinhood Markets had a net margin of 39.04% and a return on equity of 21.49%. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.61 EPS. On average, research analysts predict that Robinhood Markets will post 2.11 EPS for the current fiscal year.
Insider Activity at Robinhood Markets
In other news, Director Baiju Bhatt sold 50,912 shares of the business’s stock in a transaction dated Wednesday, October 21st. The shares were sold at an average price of $101.40, for a total value of $5,162,476.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Shiv Verma sold 11,472 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $110.42, for a total transaction of $1,266,738.24. Following the completion of the sale, the chief financial officer directly owned 56,858 shares of the company’s stock, valued at $6,278,260.36. The trade was a 16.79% decrease in their position. 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. Insiders sold 1,081,347 shares of company stock worth $127,543,680 over the last quarter. Corporate insiders own 13.48% of the company’s stock.
Hedge Funds Weigh In On Robinhood Markets
Large investors have recently bought and sold shares of the business. EULAV Asset Management grew its holdings in shares of Robinhood Markets by 47.9% during the third quarter. EULAV Asset Management now owns 325,342 shares of the company’s stock valued at $36,601,000 after buying an additional 105,342 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Robinhood Markets by 37.1% in the 2nd quarter. Wellington Management Group LLP now owns 786,318 shares of the company’s stock valued at $78,852,000 after acquiring an additional 212,855 shares during the period. Nykredit A S acquired a new position in shares of Robinhood Markets in the 2nd quarter valued at $29,008,000. QRG Capital Management Inc. raised its stake in Robinhood Markets by 14.8% in the 2nd quarter. QRG Capital Management Inc. now owns 180,595 shares of the company’s stock worth $18,110,000 after acquiring an additional 23,253 shares during the last quarter. Finally, NewEdge Advisors LLC raised its stake in Robinhood Markets by 18.3% in the 2nd quarter. NewEdge Advisors LLC now owns 68,920 shares of the company’s stock worth $6,911,000 after acquiring an additional 10,685 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.
Key Headlines Impacting Robinhood Markets
Here are the key news stories impacting Robinhood Markets this week:
- Positive Sentiment: A $6.3 billion Binance hack may steer some crypto investors toward regulated platforms. Goldman Sachs said that a flight to safety could benefit Robinhood, alongside Coinbase and BitGo. Goldman Sachs names stock winners and losers after $6.3 bln Binance heist
- Positive Sentiment: Tokenized stocks from Robinhood and other platforms have attracted $130.5 million in DeFi deposits, an encouraging sign of adoption for this emerging business area. Tokenized stocks from Robinhood, Binance, and Coinbase attract $130.5M in DeFi deposits
- Neutral Sentiment: Robinhood is competing for a larger retail allocation in Anthropic’s anticipated IPO. Access could attract customers and trading activity, but the CFO described the brokerage scramble for shares as a “food fight,” underscoring uncertainty about allocations. Robinhood in a “Food Fight” for Anthropic IPO Shares as Crypto Trading Cools
- Negative Sentiment: An analyst downgrade added pressure on the shares. Robinhood Markets Stock Falls 1.4% on Analyst Downgrade
- Negative Sentiment: Crypto revenue fell 55% in the third quarter, while overall revenue growth slowed to 12%. The cooling crypto business raises concerns about near-term growth, even as Robinhood expands into other products. Robinhood in a “Food Fight” for Anthropic IPO Shares as Crypto Trading Cools
Robinhood Markets Company Profile
Robinhood Markets, Inc is a financial services company that operates a digital brokerage platform. Founded in 2013 by Vlad Tenev and Baiju Bhatt, the company became known for offering commission-free trading and a mobile-first investing experience designed to broaden access to financial markets.
Through its platform, Robinhood provides brokerage services for stocks, exchange-traded funds, options and other investments. Its offerings also include cryptocurrency trading, individual retirement accounts, margin investing, cash management services and Robinhood Gold, a subscription-based product that provides additional features and benefits.
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