The Goldman Sachs Group Cuts Robinhood Markets (NASDAQ:HOOD) Price Target to $118.00

Robinhood Markets (NASDAQ:HOOD) had its target price trimmed by The Goldman Sachs Group from $137.00 to $118.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts have also issued reports about the company. KeyCorp lifted their price objective on Robinhood Markets from $100.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. Morgan Stanley upped their target price on shares of Robinhood Markets from $95.00 to $124.00 and gave the company an “equal weight” rating in a research report on Friday, July 10th. Argus raised their target price on shares of Robinhood Markets from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Robinhood Markets from $105.00 to $113.00 and gave the stock a “buy” rating in a research report on Tuesday, June 30th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Robinhood Markets in a research note on Wednesday, June 24th. Twenty-one research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $120.30.

Robinhood Markets Stock Down 0.0%

Shares of HOOD opened at $86.56 on Thursday. The business’s fifty day moving average price is $98.02 and its two-hundred day moving average price is $87.63. The firm has a market capitalization of $77.95 billion, a price-to-earnings ratio of 38.13, a PEG ratio of 1.72 and a beta of 2.33. Robinhood Markets has a 52 week low of $63.51 and a 52 week high of $153.86. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.22 and a current ratio of 1.22.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, July 29th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.18. Robinhood Markets had a return on equity of 22.43% and a net margin of 42.01%.The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the previous year, the company posted $0.42 earnings per share. The firm’s quarterly revenue was up 32.5% on a year-over-year basis. On average, analysts predict that Robinhood Markets will post 2 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In other news, insider Steven M. Quirk sold 19,377 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $119.96, for a total transaction of $2,324,464.92. Following the completion of the transaction, the insider directly owned 62,612 shares in the company, valued at approximately $7,510,935.52. The trade was a 23.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Vladimir Tenev sold 375,000 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $116.17, for a total value of $43,563,750.00. Following the completion of the sale, the chief executive officer directly owned 375,000 shares of the company’s stock, valued at approximately $43,563,750. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have acquired 680,000 shares of company stock valued at $55,306,560 and have sold 631,263 shares valued at $66,793,857. Corporate insiders own 13.48% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Sound Income Strategies LLC increased its stake in Robinhood Markets by 152.6% in the fourth 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 boosted its position in shares of Robinhood Markets by 527.8% during the fourth quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company’s stock worth $26,000 after purchasing an additional 190 shares in the last quarter. Elyxium Wealth LLC bought a new position in shares of Robinhood Markets during the fourth quarter worth $27,000. MV Capital Management Inc. acquired a new position in shares of Robinhood Markets in the 4th quarter valued at $27,000. Finally, Swiss RE Ltd. acquired a new position in shares of Robinhood Markets in the 4th quarter valued at $27,000. 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: Q2 earnings beat expectations: Robinhood reported adjusted earnings of $0.62 per share versus the $0.44 consensus estimate, while revenue rose 32.5% year over year to a record $1.31 billion, slightly above expectations. Robinhood Markets Q2 Earnings and Revenues Top Estimates
• Positive Sentiment: Business diversification accelerated: Prediction-market revenue reached $156 million, overtaking crypto revenue of $100 million. Management called event markets the company’s fastest-growing business, reducing HOOD’s reliance on cryptocurrency activity. Robinhood Beats Estimates as Prediction Markets Overtake Crypto
• Positive Sentiment: Customer and platform growth remained strong: Robinhood added nearly 1 million funded customers during the quarter—its largest increase in almost five years—and reported record trading volumes, platform assets and Gold subscribers. A reported boost from the anticipated SpaceX IPO also supported account growth. SpaceX IPO Helped Robinhood Add Nearly 1 Million Customers
• Positive Sentiment: Analysts still see substantial upside: Bernstein raised its price target to $160 and cited prediction markets as a potential growth driver, while Citizens JMP maintained an outperform rating with a $155 target. Bernstein Raised Robinhood Price Target
• Neutral Sentiment: CEO Vlad Tenev said the administration is crypto-friendly but argued that clearer, durable U.S. regulation is needed to prevent policy uncertainty from changing every four years. Robinhood CEO Discusses Crypto Regulation
• Negative Sentiment: Crypto weakness and valuation concerns pressured the stock: Crypto revenue fell 38% year over year, while investors questioned the sustainability of a one-time accounting benefit and rising expenses. Analysts also cited a meaningful slowdown in new accounts during July; Barclays cut its target to $105, and Goldman Sachs lowered its target to $118 while retaining a buy rating. HOOD Q2 Earnings Beat but Stock Dips

About Robinhood Markets

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.