Robinhood Markets (NASDAQ:HOOD) Stock Price Target Raised at BTIG Research

Key Points

• BTIG Research raised Robinhood’s price target from $125 to $135 and maintained a “buy” rating, implying approximately 15.9% upside from the reported share price.
• Analyst sentiment remains positive overall, with MarketBeat reporting a “Moderate Buy” consensus rating and an average price target of $133; other firms set targets as high as $160.
• Robinhood exceeded quarterly expectations, reporting $0.62 EPS versus a $0.44 estimate and $1.31 billion in revenue, up 32.5% year over year. However, insiders sold more than 1.12 million shares worth approximately $132.7 million during the last quarter.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) had its price target lifted by BTIG Research from $125.00 to $135.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. BTIG Research's target price points to a potential upside of 15.92% from the company's current price.

Other equities analysts have also issued reports about the company. Wall Street Zen upgraded Robinhood Markets from a "strong sell" rating to a "sell" rating in a research report on Sunday, July 12th. China Renaissance began coverage on Robinhood Markets in a research note on Tuesday, July 7th. They set a "buy" rating for the company. Sanford C. Bernstein restated an "outperform" rating and issued a $160.00 target price on shares of Robinhood Markets in a report on Tuesday, September 8th. Mizuho lifted their target price on shares of Robinhood Markets from $130.00 to $140.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 9th. Finally, Piper Sandler reiterated an "overweight" rating and set a $145.00 price target (up from $135.00) on shares of Robinhood Markets in a report on Wednesday, September 2nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $133.00.

Robinhood Markets Stock Performance

NASDAQ HOOD opened at $116.46 on Tuesday. The company has a 50-day simple moving average of $105.03 and a two-hundred day simple moving average of $92.80. Robinhood Markets has a 12-month low of $63.51 and a 12-month high of $153.86. The firm has a market cap of $104.71 billion, a price-to-earnings ratio of 51.30, a PEG ratio of 2.38 and a beta of 2.34. 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 released its quarterly earnings data on Wednesday, July 29th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.44 by $0.18. Robinhood Markets had a return on equity of 22.43% and a net margin of 42.01%.The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the previous year, the business earned $0.42 earnings per share. The company's quarterly revenue was up 32.5% on a year-over-year basis. On average, equities analysts forecast that Robinhood Markets will post 2.15 EPS for the current year.

Insider Transactions at Robinhood Markets

In related news, CEO Vladimir Tenev sold 240,834 shares of Robinhood Markets stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $125.33, for a total value of $30,183,725.22. Following the sale, the chief executive officer owned 240,834 shares in the company, valued at $30,183,725.22. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Oluwadara Treseder sold 1,875 shares of the business's stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $125.00, for a total transaction of $234,375.00. Following the transaction, the director directly owned 70,567 shares in the company, valued at approximately $8,820,875. The trade was a 2.59% 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 quarter, insiders sold 1,121,121 shares of company stock worth $132,674,478. Corporate insiders own 13.48% of the company's stock.

Institutional Investors Weigh In On Robinhood Markets

Large investors have recently modified their holdings of the stock. QRG Capital Management Inc. raised its stake in Robinhood Markets by 14.8% in the second quarter. QRG Capital Management Inc. now owns 180,595 shares of the company's stock worth $18,110,000 after buying an additional 23,253 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in Robinhood Markets by 31.7% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 15,529 shares of the company's stock valued at $1,557,000 after acquiring an additional 3,738 shares in the last quarter. Capstone Financial Advisors Inc. grew its holdings in shares of Robinhood Markets by 17.5% during the 2nd quarter. Capstone Financial Advisors Inc. now owns 3,569 shares of the company's stock worth $358,000 after acquiring an additional 532 shares during the period. Whetstone Capital Advisors LLC grew its holdings in shares of Robinhood Markets by 8.8% during the 2nd quarter. Whetstone Capital Advisors LLC now owns 54,755 shares of the company's stock worth $5,491,000 after acquiring an additional 4,419 shares during the period. Finally, National Pension Service raised its position in shares of Robinhood Markets by 5.1% in the 2nd quarter. National Pension Service now owns 2,298,238 shares of the company's stock worth $230,467,000 after acquiring an additional 112,365 shares in the last quarter. Institutional investors own 93.27% of the company's stock.

Robinhood Markets Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.