Barclays Forecasts Strong Price Appreciation for Robinhood Markets (NASDAQ:HOOD) Stock

Robinhood Markets (NASDAQ:HOOD - Get Free Report) had its target price increased by Barclays from $57.00 to $102.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Barclays's price objective would indicate a potential upside of 3.34% from the company's current price.

HOOD has been the subject of several other reports. Citigroup raised their target price on Robinhood Markets from $50.00 to $100.00 and gave the company a "neutral" rating in a research note on Monday. Mizuho raised their target price on Robinhood Markets from $80.00 to $99.00 and gave the company an "outperform" rating in a research note on Tuesday, July 1st. KeyCorp raised their target price on Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Morgan Stanley lifted their price target on Robinhood Markets from $40.00 to $43.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 13th. Finally, The Goldman Sachs Group lifted their price target on Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a research note on Monday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $76.06.

Robinhood Markets Stock Performance

Shares of HOOD stock traded up $4.16 during mid-day trading on Thursday, hitting $98.70. The company's stock had a trading volume of 49,588,566 shares, compared to its average volume of 30,078,172. The company's fifty day simple moving average is $72.49 and its 200-day simple moving average is $54.91. Robinhood Markets has a 52 week low of $13.98 and a 52 week high of $100.88. The company has a market cap of $87.39 billion, a PE ratio of 56.08, a P/E/G ratio of 4.77 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). The firm had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The business'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. On average, equities analysts anticipate that Robinhood Markets will post 1.35 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In other news, insider Steven M. Quirk sold 104,887 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $70.14, for a total value of $7,356,774.18. Following the transaction, the insider owned 228,621 shares in the company, valued at $16,035,476.94. The trade was a 31.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $93.27, for a total value of $69,952,500.00. The disclosure for this sale can be found here. Insiders have sold 2,472,702 shares of company stock worth $179,396,832 in the last 90 days. Insiders own 14.47% of the company's stock.

Hedge Funds Weigh In On Robinhood Markets

Several institutional investors have recently bought and sold shares of the company. Whipplewood Advisors LLC lifted its stake in Robinhood Markets by 564.4% in the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after purchasing an additional 508 shares during the last quarter. Hemington Wealth Management lifted its stake in Robinhood Markets by 52.2% in the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock valued at $26,000 after purchasing an additional 218 shares during the last quarter. Wayfinding Financial LLC purchased a new position in Robinhood Markets in the first quarter valued at approximately $30,000. CoreCap Advisors LLC lifted its stake in Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after purchasing an additional 550 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its stake in Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock valued at $32,000 after purchasing an additional 750 shares during the last quarter. 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.