Barclays Forecasts Strong Price Appreciation for Robinhood Markets (NASDAQ:HOOD) Stock

by · The Markets Daily

Robinhood Markets (NASDAQ:HOOD – Get Free Report) had its price target increased by Barclays from $23.00 to $26.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective indicates a potential upside of 9.11% from the company’s previous close.

Several other equities research analysts have also commented on HOOD. Needham & Company LLC reissued a “hold” rating on shares of Robinhood Markets in a research note on Thursday. The Goldman Sachs Group boosted their price objective on shares of Robinhood Markets from $22.50 to $25.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Robinhood Markets from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Bank of America boosted their price objective on shares of Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $25.17.

Check Out Our Latest Stock Analysis on HOOD

Robinhood Markets Stock Down 15.5 %

Shares of HOOD traded down $4.38 during trading hours on Thursday, reaching $23.83. 33,896,902 shares of the company traded hands, compared to its average volume of 15,484,518. The company’s fifty day moving average price is $23.32 and its two-hundred day moving average price is $21.34. The company has a market capitalization of $21.08 billion, a price-to-earnings ratio of 72.27 and a beta of 1.84. Robinhood Markets has a 12 month low of $7.91 and a 12 month high of $28.58.

Robinhood Markets (NASDAQ:HOOD – Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The company had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. During the same period in the previous year, the firm posted ($0.09) EPS. The company’s revenue for the quarter was up 36.4% on a year-over-year basis. On average, analysts expect that Robinhood Markets will post 0.74 EPS for the current year.

Insiders Place Their Bets

In other Robinhood Markets news, Director Baiju Bhatt sold 98,404 shares of Robinhood Markets stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $26.40, for a total value of $2,597,865.60. Following the completion of the transaction, the director now directly owns 2,521 shares of the company’s stock, valued at $66,554.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Meyer Malka sold 3,225,806 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $25.07, for a total value of $80,870,956.42. Following the completion of the sale, the director now owns 29,357,336 shares in the company, valued at approximately $735,988,413.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Baiju Bhatt sold 98,404 shares of the firm’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $26.40, for a total transaction of $2,597,865.60. Following the completion of the sale, the director now owns 2,521 shares of the company’s stock, valued at $66,554.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,639,654 shares of company stock worth $110,241,632 over the last three months. 19.95% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Robinhood Markets

Institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its holdings in Robinhood Markets by 46.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after buying an additional 722 shares in the last quarter. Diversified Trust Co bought a new stake in Robinhood Markets during the 1st quarter valued at about $278,000. Allspring Global Investments Holdings LLC bought a new stake in Robinhood Markets during the 1st quarter valued at about $34,000. Principal Financial Group Inc. lifted its holdings in Robinhood Markets by 26.6% during the 1st quarter. Principal Financial Group Inc. now owns 53,661 shares of the company’s stock valued at $1,080,000 after buying an additional 11,264 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in Robinhood Markets by 40.1% during the 1st quarter. Commonwealth Equity Services LLC now owns 46,101 shares of the company’s stock valued at $928,000 after buying an additional 13,202 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Company Profile

(Get Free Report)

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.

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