Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $125.00 at JMP Securities

Robinhood Markets (NASDAQ:HOOD - Free Report) had its target price lifted by JMP Securities from $70.00 to $125.00 in a research report report published on Monday,Benzinga reports. The firm currently has a market outperform rating on the stock.

Other research analysts have also issued reports about the stock. Barclays raised their target price on shares of Robinhood Markets from $57.00 to $102.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $60.00 target price on shares of Robinhood Markets in a report on Thursday, March 27th. Morgan Stanley increased their price target on shares of Robinhood Markets from $40.00 to $43.00 and gave the company an "equal weight" rating in a report on Tuesday, May 13th. The Goldman Sachs Group lifted their price target on Robinhood Markets from $91.00 to $104.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Finally, Cantor Fitzgerald upped their price objective on Robinhood Markets from $89.00 to $100.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $85.29.

Robinhood Markets Stock Up 1.5%

HOOD stock traded up $1.54 during mid-day trading on Monday, hitting $104.79. The company had a trading volume of 25,264,623 shares, compared to its average volume of 30,627,405. The company has a 50-day moving average price of $76.60 and a 200 day moving average price of $56.58. Robinhood Markets has a 12-month low of $13.98 and a 12-month high of $106.40. The company has a market capitalization of $92.79 billion, a price-to-earnings ratio of 59.76, a P/E/G ratio of 5.14 and a beta of 2.36.

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

Insiders Place Their Bets

In related news, Director Christopher D. Payne acquired 26,500 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The stock was bought at an average price of $74.19 per share, for a total transaction of $1,966,035.00. Following the acquisition, the director directly owned 26,500 shares of the company's stock, valued at $1,966,035. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the company's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $93.51, for a total transaction of $548,342.64. Following the completion of the transaction, the chief technology officer owned 8,908 shares in the company, valued at $832,987.08. This represents a 39.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,364,145 shares of company stock valued at $181,837,741. Insiders own 14.47% of the company's stock.

Institutional Investors Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently bought and sold shares of the company. Proficio Capital Partners LLC bought a new position in Robinhood Markets in the fourth quarter worth approximately $2,367,000. Independent Advisor Alliance bought a new position in Robinhood Markets in the fourth quarter worth about $268,000. HighTower Advisors LLC lifted its position in shares of Robinhood Markets by 57.6% during the fourth quarter. HighTower Advisors LLC now owns 47,232 shares of the company's stock valued at $1,760,000 after buying an additional 17,264 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Robinhood Markets in the 4th quarter valued at about $226,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Robinhood Markets by 177.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the company's stock worth $52,000 after buying an additional 899 shares during the last quarter. 93.27% of the stock is owned by institutional investors.

About Robinhood Markets

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.