Robinhood Markets (NASDAQ:HOOD) Stock Price Expected to Rise, Citigroup Analyst Says

Robinhood Markets (NASDAQ:HOOD - Get Free Report) had its price target increased by investment analysts at Citigroup from $50.00 to $100.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Citigroup's target price would indicate a potential upside of 9.57% from the company's current price.

HOOD has been the topic of a number of other reports. Compass Point lifted their price target on Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. KeyCorp lifted their price target on Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Redburn Atlantic reaffirmed a "sell" rating and issued a $48.00 price target (up from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. Morgan Stanley lifted their price target on Robinhood Markets from $40.00 to $43.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 13th. Finally, Barclays lowered their price target on Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating on the stock in a research note on Monday, April 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, Robinhood Markets presently has a consensus rating of "Moderate Buy" and an average price target of $72.71.

Robinhood Markets Trading Down 2.3%

HOOD traded down $2.19 during trading on Monday, hitting $91.27. The company's stock had a trading volume of 59,498,713 shares, compared to its average volume of 29,730,564. Robinhood Markets has a twelve month low of $13.98 and a twelve month high of $100.88. The business's fifty day simple moving average is $69.70 and its 200 day simple moving average is $53.95. The firm has a market capitalization of $80.82 billion, a price-to-earnings ratio of 51.86, a P/E/G ratio of 4.80 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The business had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. During the same period in the previous year, the business posted $0.18 earnings per share. The firm's revenue for the quarter was up 50.0% on a year-over-year basis. As a group, equities research analysts forecast that Robinhood Markets will post 1.35 earnings per share for the current fiscal year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the company's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $77.82, for a total transaction of $456,336.48. Following the sale, the chief technology officer owned 14,772 shares in the company, valued at $1,149,557.04. This represents a 28.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Christopher D. Payne purchased 26,500 shares of the business's stock in a transaction on Friday, June 13th. The shares were bought at an average price of $74.19 per share, for a total transaction of $1,966,035.00. Following the acquisition, the director owned 26,500 shares in the company, valued at $1,966,035. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 2,441,838 shares of company stock worth $176,501,489 over the last quarter. 19.95% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Jones Financial Companies Lllp grew its holdings in shares of Robinhood Markets by 1,631.5% during the fourth quarter. Jones Financial Companies Lllp now owns 3,463 shares of the company's stock worth $129,000 after purchasing an additional 3,263 shares during the last quarter. Steward Partners Investment Advisory LLC grew its stake in Robinhood Markets by 43.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 14,028 shares of the company's stock worth $523,000 after buying an additional 4,228 shares during the last quarter. Victory Capital Management Inc. grew its stake in Robinhood Markets by 87.6% during the 4th quarter. Victory Capital Management Inc. now owns 220,160 shares of the company's stock worth $8,203,000 after buying an additional 102,777 shares during the last quarter. M&T Bank Corp grew its stake in Robinhood Markets by 7.2% during the 4th quarter. M&T Bank Corp now owns 30,379 shares of the company's stock worth $1,132,000 after buying an additional 2,034 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in Robinhood Markets during the 4th quarter worth approximately $2,367,000. Hedge funds and other institutional investors own 93.27% of the company's stock.

Robinhood Markets Company Profile

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.