Robinhood Markets, Inc. (NASDAQ:HOOD) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Robinhood Markets, Inc. has received a consensus recommendation of "Moderate Buy" from eighteen brokerages, with eleven ratings for buy, six for hold, and one for sell.
• The company reported $0.42 earnings per share for the last quarter, exceeding estimates, with revenues rising by 45.0% year-over-year to $989 million.
• Institutional investors hold a significant stake in the company, owning 93.27% of Robinhood Markets’ stock following recent acquisitions by several hedge funds.

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the eighteen brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $101.8750.

Several research firms recently weighed in on HOOD. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Barclays upped their price objective on shares of Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Piper Sandler assumed coverage on shares of Robinhood Markets in a report on Wednesday. They issued an "overweight" rating and a $120.00 price objective for the company. Needham & Company LLC boosted their price target on shares of Robinhood Markets from $71.00 to $120.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Finally, Citigroup boosted their price target on shares of Robinhood Markets from $100.00 to $120.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st.

Robinhood Markets Stock Down 2.3%

HOOD stock opened at $115.03 on Friday. The company has a market capitalization of $102.22 billion, a P/E ratio of 58.39, a PEG ratio of 4.32 and a beta of 2.36. The company has a 50-day simple moving average of $105.99 and a 200 day simple moving average of $73.46. Robinhood Markets has a fifty-two week low of $21.50 and a fifty-two week high of $123.44.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.12. The business had revenue of $989.00 million during the quarter, compared to the consensus estimate of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The company's quarterly revenue was up 45.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.21 earnings per share. Equities analysts anticipate that Robinhood Markets will post 1.35 EPS for the current year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,865 shares of the business's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $99.83, for a total value of $585,502.95. Following the sale, the chief technology officer directly owned 23,680 shares in the company, valued at approximately $2,363,974.40. The trade was a 19.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $100.92, for a total transaction of $2,523,000.00. Following the completion of the sale, the insider owned 610,949 shares in the company, valued at approximately $61,656,973.08. This trade represents a 3.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,773,719 shares of company stock valued at $589,293,510 in the last quarter. 14.47% of the stock is owned by company insiders.

Institutional Trading of Robinhood Markets

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hantz Financial Services Inc. raised its holdings in Robinhood Markets by 120.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 271 shares of the company's stock worth $25,000 after buying an additional 148 shares during the period. Smithfield Trust Co acquired a new stake in Robinhood Markets during the 2nd quarter worth about $29,000. Twin Peaks Wealth Advisors LLC acquired a new stake in Robinhood Markets during the 2nd quarter worth about $34,000. V Square Quantitative Management LLC acquired a new stake in Robinhood Markets during the 2nd quarter worth about $36,000. Finally, LGT Financial Advisors LLC acquired a new stake in Robinhood Markets during the 2nd quarter worth about $37,000. Institutional investors and hedge funds 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.

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