Robinhood Markets (NASDAQ:HOOD) Given New $150.00 Price Target at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald raised Robinhood Markets’ price target to $150 from $115 and maintained an “overweight” rating, implying 22.84% upside from the prior close.
• Analyst sentiment remains broadly positive: Robinhood has a “Moderate Buy” consensus rating and an average price target of $125.67, with Morgan Stanley also lifting its target to $150.
• Robinhood exceeded quarterly expectations, reporting $0.62 in EPS versus $0.44 expected and $1.31 billion in revenue, up 32.5% year over year. However, insiders sold 626,283 shares worth about $69.1 million over the past 90 days.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) had its price objective hoisted by analysts at Cantor Fitzgerald from $115.00 to $150.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an "overweight" rating on the stock. Cantor Fitzgerald's price objective would indicate a potential upside of 22.84% from the stock's previous close.

HOOD has been the subject of several other research reports. Needham & Company LLC reduced their price target on shares of Robinhood Markets from $123.00 to $120.00 and set a "buy" rating for the company in a report on Thursday, July 30th. Morgan Stanley upgraded shares of Robinhood Markets from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $124.00 to $150.00 in a research report on Tuesday, September 1st. Wall Street Zen upgraded shares of Robinhood Markets from a "strong sell" rating to a "sell" rating in a research report on Sunday, July 12th. Mizuho boosted their price objective on Robinhood Markets from $115.00 to $130.00 and gave the stock an "outperform" rating in a research report on Thursday, July 2nd. Finally, Citizens Jmp reissued a "market outperform" rating and issued a $155.00 price objective on shares of Robinhood Markets in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Robinhood Markets presently has a consensus rating of "Moderate Buy" and an average target price of $125.67.

Robinhood Markets Stock Performance

Shares of HOOD stock opened at $122.11 on Tuesday. The company has a market cap of $109.79 billion, a P/E ratio of 53.79, a PEG ratio of 2.50 and a beta of 2.34. The business has a 50 day moving average of $103.14 and a two-hundred day moving average of $88.67. Robinhood Markets has a 52 week low of $63.51 and a 52 week high of $153.86. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.23.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.18. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. Robinhood Markets had a return on equity of 22.43% and a net margin of 42.01%.The business's revenue was up 32.5% on a year-over-year basis. During the same quarter last year, the business posted $0.42 EPS. As a group, analysts anticipate that Robinhood Markets will post 2.09 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, 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 transaction 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 represents a 50.00% decrease in their ownership of the stock. 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, insider Steven M. Quirk sold 24,416 shares of the firm's stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $120.33, for a total transaction of $2,937,977.28. Following the completion of the transaction, the insider owned 77,839 shares of the company's stock, valued at approximately $9,366,366.87. The trade was a 23.88% 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. Insiders sold a total of 626,283 shares of company stock valued at $69,070,083 over the last 90 days. 13.48% of the stock is owned by insiders.

Institutional Investors Weigh In On Robinhood Markets

Hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its stake in shares of Robinhood Markets by 86.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 100,849 shares of the company's stock worth $11,406,000 after acquiring an additional 46,688 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in Robinhood Markets by 196.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 722,857 shares of the company's stock valued at $81,755,000 after purchasing an additional 478,919 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co raised its holdings in Robinhood Markets by 17.6% in the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 120,000 shares of the company's stock worth $13,572,000 after acquiring an additional 18,000 shares during the period. Wellington Management Group LLP lifted its position in shares of Robinhood Markets by 37.1% during the 2nd quarter. Wellington Management Group LLP now owns 786,318 shares of the company's stock worth $78,852,000 after purchasing an additional 212,855 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Robinhood Markets in the second quarter valued at approximately $22,691,000. Hedge funds and other institutional investors own 93.27% of the company's stock.

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.

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