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

Robinhood Markets (NASDAQ:HOOD - Free Report) had its target price raised by Mizuho from $65.00 to $80.00 in a research report report published on Tuesday,Benzinga reports. Mizuho currently has an outperform rating on the stock.

Several other brokerages have also commented on HOOD. Compass Point initiated coverage on shares of Robinhood Markets in a research note on Wednesday, March 19th. They issued a "buy" rating and a $61.00 price target on the stock. Citigroup dropped their price target on shares of Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. KeyCorp dropped their price target on shares of Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. JMP Securities restated a "market outperform" rating and issued a $70.00 price target on shares of Robinhood Markets in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. raised their price target on shares of Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $58.00.

Robinhood Markets Trading Up 0.2%

NASDAQ HOOD traded up $0.15 during trading hours on Tuesday, reaching $78.50. The company's stock had a trading volume of 37,155,167 shares, compared to its average volume of 27,640,166. The business has a 50-day simple moving average of $59.90 and a 200 day simple moving average of $50.02. Robinhood Markets has a 52 week low of $13.98 and a 52 week high of $79.36. The stock has a market cap of $69.51 billion, a PE ratio of 44.60, a PEG ratio of 4.62 and a beta of 2.25.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (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 business had revenue of $927.00 million during the quarter, compared to the consensus estimate of $917.12 million. During the same period in the prior year, the business earned $0.18 EPS. The business's revenue was up 50.0% on a year-over-year basis. As a group, equities analysts predict that Robinhood Markets will post 1.35 EPS for the current year.

Insiders Place Their Bets

In other 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 purchased at an average price of $74.19 per share, with a total value of $1,966,035.00. Following the purchase, the director now owns 26,500 shares of the company's stock, valued at approximately $1,966,035. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Baiju Bhatt sold 47,023 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $46.37, for a total transaction of $2,180,456.51. Following the completion of the transaction, the director now directly owns 5,042 shares of the company's stock, valued at $233,797.54. This represents a 90.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,421,593 shares of company stock worth $133,064,692. 14.47% of the stock is owned by insiders.

Institutional Investors Weigh In On Robinhood Markets

A number of institutional investors have recently modified their holdings of the stock. MetLife Investment Management LLC boosted its stake in shares of Robinhood Markets by 1.5% during the 4th quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock valued at $440,000 after buying an additional 171 shares during the period. Cigna Investments Inc. New boosted its stake in shares of Robinhood Markets by 2.7% during the 1st quarter. Cigna Investments Inc. New now owns 6,730 shares of the company's stock valued at $280,000 after buying an additional 174 shares during the period. Hemington Wealth Management boosted its stake in shares of Robinhood Markets by 52.2% during the 1st quarter. Hemington Wealth Management now owns 636 shares of the company's stock valued at $26,000 after buying an additional 218 shares during the period. Dorsey & Whitney Trust CO LLC boosted its stake in shares of Robinhood Markets by 2.4% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company's stock valued at $368,000 after buying an additional 233 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in shares of Robinhood Markets by 4.0% during the 1st quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company's stock valued at $290,000 after buying an additional 265 shares during the period. Institutional investors and hedge funds own 93.27% of the company's stock.

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.