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

Robinhood Markets (NASDAQ:HOOD - Get Free Report) had its price objective increased by equities research analysts at Mizuho from $65.00 to $80.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Mizuho's price target would indicate a potential upside of 9.21% from the stock's previous close.

HOOD has been the topic of a number of other reports. Citigroup lowered their target price on shares of Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Morgan Stanley upped their target price 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. JMP Securities reissued a "market outperform" rating and set a $70.00 price target on shares of Robinhood Markets in a report on Thursday, May 1st. KeyCorp reduced their price objective on Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, Robinhood Markets has an average rating of "Moderate Buy" and an average target price of $58.00.

Robinhood Markets Stock Down 4.6%

NASDAQ HOOD traded down $3.50 on Tuesday, hitting $73.25. 16,644,207 shares of the stock were exchanged, compared to its average volume of 27,350,838. Robinhood Markets has a fifty-two week low of $13.98 and a fifty-two week high of $77.80. The company has a 50-day moving average price of $57.07 and a 200-day moving average price of $49.08. The company has a market cap of $64.86 billion, a PE ratio of 46.70, a PEG ratio of 1.05 and a beta of 2.25.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). The business had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The firm's quarterly revenue was up 50.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.18 earnings per share. As a group, equities research analysts predict that Robinhood Markets will post 1.35 EPS for the current fiscal year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 418,338 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $74.29, for a total transaction of $31,078,330.02. Following the transaction, the director now owns 7,863 shares of the company's stock, valued at $584,142.27. This trade represents a 98.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,865 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $73.49, for a total transaction of $431,018.85. Following the completion of the sale, the chief technology officer now directly owns 20,636 shares of the company's stock, valued at $1,516,539.64. The trade was a 22.13% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,650,974 shares of company stock valued at $142,977,123. 14.47% of the stock is owned by corporate insiders.

Institutional Trading of Robinhood Markets

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Robinhood Markets by 8.6% during the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock worth $3,089,914,000 after purchasing an additional 5,874,701 shares during the last quarter. FMR LLC raised its stake in Robinhood Markets by 184.8% during the fourth quarter. FMR LLC now owns 40,237,478 shares of the company's stock valued at $1,499,248,000 after buying an additional 26,107,934 shares in the last quarter. Newlands Management Operations LLC lifted its holdings in Robinhood Markets by 1.1% during the 4th quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock worth $900,159,000 after buying an additional 273,860 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Robinhood Markets by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company's stock worth $455,464,000 after acquiring an additional 555,299 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Robinhood Markets by 34.4% in the 4th quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock worth $450,031,000 after acquiring an additional 3,091,514 shares in the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

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.

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