Argus Issues Positive Forecast for Robinhood Markets (NASDAQ:HOOD) Stock Price

Key Points

• Argus raised its price target on Robinhood Markets from $90 to $110 while keeping a buy rating, implying modest upside from the prior close.
• Analyst sentiment remains constructive overall: 18 analysts rate HOOD a Buy, five rate it Hold, and the consensus target price is about $112.36.
• Robinhood shares rose to $106.81 as the company continues to show strong operating momentum, with recent commentary highlighting workforce cuts as a move to improve efficiency and support growth.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) had its target price raised by research analysts at Argus from $90.00 to $110.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Argus' target price suggests a potential upside of 2.99% from the company's previous close.

A number of other equities analysts have also issued reports on HOOD. Citigroup reissued a "market outperform" rating on shares of Robinhood Markets in a research report on Thursday, May 28th. Jefferies Financial Group reduced their price target on shares of Robinhood Markets from $88.00 to $84.00 and set a "buy" rating for the company in a research report on Monday, April 6th. JPMorgan Chase & Co. cut their target price on shares of Robinhood Markets from $113.00 to $92.00 and set a "neutral" rating for the company in a report on Thursday, April 23rd. Keefe, Bruyette & Woods cut their target price on shares of Robinhood Markets from $75.00 to $65.00 and set a "market perform" rating for the company in a report on Wednesday, April 29th. Finally, Needham & Company LLC lifted their target price on shares of Robinhood Markets from $85.00 to $97.00 and gave the company a "buy" rating in a report on Thursday, June 11th. Eighteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $112.36.

Robinhood Markets Price Performance

HOOD traded up $10.10 during trading on Wednesday, reaching $106.81. 20,370,405 shares of the company's stock were exchanged, compared to its average volume of 29,876,875. Robinhood Markets has a 1 year low of $63.51 and a 1 year high of $153.86. The stock has a market capitalization of $96.18 billion, a P/E ratio of 51.36, a price-to-earnings-growth ratio of 2.45 and a beta of 2.35. The company's fifty day simple moving average is $81.23 and its 200-day simple moving average is $91.67.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.01). Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.The business had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.14 billion. During the same period in the prior year, the business posted $0.37 earnings per share. The business's quarterly revenue was up 15.1% compared to the same quarter last year. Equities analysts forecast that Robinhood Markets will post 1.83 EPS for the current year.

Insider Activity

In other news, insider Steven M. Quirk sold 10,837 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $85.91, for a total transaction of $931,006.67. Following the completion of the transaction, the insider directly owned 81,989 shares of the company's stock, valued at $7,043,674.99. The trade was a 11.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Meyer Malka bought 250,000 shares of the business's stock in a transaction dated Friday, June 5th. The shares were purchased at an average cost of $80.74 per share, with a total value of $20,185,000.00. Following the completion of the acquisition, the director owned 3,924,427 shares in the company, valued at approximately $316,858,235.98. This represents a 6.80% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders bought 680,000 shares of company stock worth $55,306,560 and sold 633,484 shares worth $47,542,923. Company insiders own 19.95% of the company's stock.

Institutional Investors Weigh In On Robinhood Markets

Institutional investors have recently added to or reduced their stakes in the stock. Sound Income Strategies LLC grew its stake in Robinhood Markets by 152.6% in the 4th quarter. Sound Income Strategies LLC now owns 240 shares of the company's stock valued at $26,000 after acquiring an additional 145 shares during the period. CYBER HORNET ETFs LLC grew its stake in Robinhood Markets by 527.8% in the 4th quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company's stock valued at $26,000 after acquiring an additional 190 shares during the period. Elyxium Wealth LLC acquired a new stake in Robinhood Markets in the 4th quarter valued at $27,000. MV Capital Management Inc. acquired a new stake in Robinhood Markets in the 4th quarter valued at $27,000. Finally, Swiss RE Ltd. acquired a new stake in Robinhood Markets in the 4th quarter valued at $27,000. Institutional investors and hedge funds own 93.27% of the company's stock.

Robinhood Markets News Summary

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

• Positive Sentiment: Robinhood’s 10% workforce reduction is being framed as a move to improve efficiency, accelerate product development, and preserve margins while business activity remains strong. Robinhood Trims Workforce to Stay Agile Amid Record Trading Activities
• Positive Sentiment: Management said the business has never been stronger, which supports the idea that the layoffs are strategic rather than a sign of slowing demand. Trading app Robinhood to shed 10% of staff
• Positive Sentiment: Analyst and media coverage continue to point to prediction markets and other new offerings as potential revenue drivers for Robinhood. Robinhood CEO Vlad Tenev Has A Plan To Build Wealth: 'Make Everyone An Owner'
• Neutral Sentiment: Broader financial stocks were firmer, which may have provided some support to HOOD alongside the company-specific news. Sector Update: Financial Stocks Rise Tuesday Afternoon
• Negative Sentiment: Recent insider selling by the CFO and a director may create some caution among investors, even though the trades were pre-arranged. Robinhood Markets NASDAQ: HOOD CFO Shiv Verma Sells 3,984 Shares

Robinhood Markets Company Profile

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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