Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $134.00

Robinhood Markets (NASDAQ:HOOD) had its target price raised by Truist Financial from $130.00 to $134.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also recently commented on HOOD. CICC Research raised their target price on Robinhood Markets from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Jefferies Financial Group upped their price target on Robinhood Markets from $127.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, September 8th. Argus upped their price target on Robinhood Markets from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, June 17th. Needham & Company LLC increased their price target on Robinhood Markets from $120.00 to $123.00 and gave the stock a “buy” rating in a research report on Wednesday, September 16th. Finally, Compass Point increased their price target on Robinhood Markets from $126.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, October 2nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and an average price target of $129.66.

Robinhood Markets Stock Up 2.9%

HOOD stock opened at $103.99 on Tuesday. The firm has a market cap of $93.50 billion, a PE ratio of 45.81, a P/E/G ratio of 1.97 and a beta of 2.35. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.22 and a current ratio of 1.22. The firm’s fifty day moving average is $109.09 and its 200 day moving average is $96.17. Robinhood Markets has a one year low of $63.51 and a one year high of $150.47.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.18. The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Robinhood Markets had a net margin of 42.01% and a return on equity of 22.43%. The firm’s revenue for the quarter was up 32.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.42 earnings per share. On average, research analysts forecast that Robinhood Markets will post 2.16 EPS for the current year.

Insider Activity

In other Robinhood Markets news, insider Daniel Gallagher, Jr. sold 10,000 shares of Robinhood Markets stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $113.71, for a total transaction of $1,137,100.00. Following the transaction, the insider directly owned 499,943 shares of the company’s stock, valued at $56,848,518.53. The trade was a 1.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Shiv Verma sold 11,472 shares of the business’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $110.42, for a total transaction of $1,266,738.24. Following the completion of the transaction, the chief financial officer owned 56,858 shares in the company, valued at $6,278,260.36. The trade was a 16.79% decrease in their ownership of the stock. 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 1,089,658 shares of company stock valued at $127,966,018 in the last quarter. Insiders own 13.48% of the company’s stock.

Institutional Trading of Robinhood Markets

Institutional investors have recently made changes to their positions in the company. V Square Quantitative Management LLC raised its position in Robinhood Markets by 6.1% in the third quarter. V Square Quantitative Management LLC now owns 4,694 shares of the company’s stock valued at $528,000 after purchasing an additional 271 shares during the period. Central Pacific Bank Trust Division acquired a new position in shares of Robinhood Markets in the 3rd quarter valued at $678,000. Eastern Bank grew its holdings in shares of Robinhood Markets by 13.3% during the 3rd quarter. Eastern Bank now owns 1,700 shares of the company’s stock worth $191,000 after purchasing an additional 200 shares during the period. QRG Capital Management Inc. grew its holdings in shares of Robinhood Markets by 14.8% during the 2nd quarter. QRG Capital Management Inc. now owns 180,595 shares of the company’s stock worth $18,110,000 after purchasing an additional 23,253 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in shares of Robinhood Markets by 31.7% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 15,529 shares of the company’s stock worth $1,557,000 after purchasing an additional 3,738 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Trending Headlines about Robinhood Markets

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

• Positive Sentiment: The SEC approved Cboe’s KPI contracts, clearing the way for Robinhood to offer retail customers options tied to company metrics. The products could expand trading activity and revenue beyond traditional stocks, options and crypto. SEC Approves HOOD-Linked KPI Contracts: A New Growth Avenue Unlocked?
• Positive Sentiment: Robinhood and Cboe are expanding prediction-market offerings following the SEC decision, reinforcing the company’s strategy of adding new trading products and engaging retail investors. Robinhood, Cboe Expand Prediction Market Offerings After SEC Win
• Positive Sentiment: Robinhood opened its social-trading network to all eligible U.S. customers, potentially supporting user growth, engagement and assets on the platform. Robinhood Lets All Eligible US Customers Share Their Trades and Portfolios
• Positive Sentiment: Evercore ISI initiated coverage with an Outperform rating, while Truist forecast substantial price appreciation. Wall Street’s generally favorable view is supporting the bullish case, though analyst targets are not guarantees. Evercore ISI Initiates Coverage
• Positive Sentiment: A new IRA incentive could help Robinhood attract older and wealthier customers, expanding retirement assets and potentially improving customer lifetime value. A Robinhood IRA Perk May Win Over Older, Wealthier Investors

About Robinhood Markets

Robinhood Markets, Inc (NASDAQ: HOOD) operates a financial services platform designed to provide investing and trading products through mobile applications and a website. Its offerings include commission-free trading in stocks and exchange-traded funds, options trading, cryptocurrency services, margin investing, and retirement accounts. The company also provides cash management features and other tools intended to help customers manage and invest their money.

Founded in 2013 by Vlad Tenev and Baiju Bhatt, Robinhood gained prominence by expanding access to investing through a low-cost, easy-to-use digital platform.