Robinhood Markets (NASDAQ:HOOD) Given New $120.00 Price Target at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald lowered Robinhood Markets’ price target from $150 to $120 while maintaining an “overweight” rating, implying roughly 41% upside from the reported $84.99 share price.
• Analyst sentiment remains broadly positive: Robinhood has a consensus “Moderate Buy” rating and an average price target of $126.45, despite several recent target-price revisions.
• Robinhood beat quarterly earnings expectations with EPS of $0.60 versus $0.56 expected, while revenue reached $1.42 billion and grew 11.5% year over year, slightly below analysts’ estimates.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) had its price objective dropped by equities research analysts at Cantor Fitzgerald from $150.00 to $120.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Cantor Fitzgerald's price objective would indicate a potential upside of 41.19% from the stock's current price.

HOOD has been the subject of a number of other reports. KeyCorp cut their target price on Robinhood Markets from $140.00 to $135.00 and set an "overweight" rating for the company in a research note on Wednesday, October 28th. Citizens Jmp reaffirmed a "market outperform" rating and set a $165.00 price objective on shares of Robinhood Markets in a report on Wednesday, October 28th. CICC Research increased their price objective on shares of Robinhood Markets from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Rothschild & Co Redburn increased their price objective on Robinhood Markets from $78.00 to $80.00 and gave the company a "sell" rating in a research report on Friday, August 14th. Finally, Jefferies Financial Group lifted their price objective on Robinhood Markets from $127.00 to $140.00 and gave the stock a "buy" rating in a research report on Tuesday, September 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $126.45.

Robinhood Markets Price Performance

HOOD opened at $84.99 on Friday. The firm has a market capitalization of $76.41 billion, a P/E ratio of 39.17, a PEG ratio of 1.78 and a beta of 2.57. The stock has a fifty day moving average of $108.49 and a 200-day moving average of $93.04. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.26. Robinhood Markets has a 12-month low of $63.51 and a 12-month high of $150.47.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results on Tuesday, October 27th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.56 by $0.04. Robinhood Markets had a net margin of 39.04% and a return on equity of 21.49%. The business had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.44 billion. During the same period in the previous year, the company posted $0.61 EPS. Robinhood Markets's revenue was up 11.5% on a year-over-year basis. Equities analysts forecast that Robinhood Markets will post 2.18 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 50,912 shares of the company's stock in a transaction on Wednesday, October 21st. The shares were sold at an average price of $101.40, for a total transaction of $5,162,476.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Quirk sold 24,416 shares of Robinhood Markets stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $120.33, for a total value of $2,937,977.28. Following the transaction, the insider owned 77,839 shares of the company's stock, valued at $9,366,366.87. The trade was a 23.88% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 1,081,347 shares of company stock valued at $127,543,680. 13.48% of the stock is owned by insiders.

Institutional Investors Weigh In On Robinhood Markets

Large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new stake in shares of Robinhood Markets in the 2nd quarter valued at approximately $379,695,000. Amundi boosted its holdings in Robinhood Markets by 89.0% in the first quarter. Amundi now owns 6,385,232 shares of the company's stock valued at $442,497,000 after acquiring an additional 3,007,103 shares during the last quarter. Renaissance Technologies LLC raised its stake in Robinhood Markets by 48.6% during the first quarter. Renaissance Technologies LLC now owns 5,104,137 shares of the company's stock worth $353,717,000 after buying an additional 1,668,400 shares during the last quarter. Hound Partners LLC bought a new stake in shares of Robinhood Markets during the 1st quarter valued at about $73,150,000. Finally, Amova Asset Management Americas Inc. increased its stake in shares of Robinhood Markets by 15.0% in the 1st quarter. Amova Asset Management Americas Inc. now owns 5,240,796 shares of the company's stock valued at $362,925,000 after acquiring an additional 685,041 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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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