Robinhood Markets (NASDAQ:HOOD) Given New $102.00 Price Target at Barclays

Robinhood Markets (NASDAQ:HOOD - Get Free Report) had its target price increased by equities researchers at Barclays from $57.00 to $102.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's price objective indicates a potential upside of 5.07% from the company's previous close.

A number of other research analysts have also issued reports on the company. Morgan Stanley lifted their target price on Robinhood Markets from $40.00 to $43.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 13th. Mizuho lifted their target price on Robinhood Markets from $80.00 to $99.00 and gave the stock an "outperform" rating in a report on Tuesday, July 1st. JMP Securities reaffirmed a "market outperform" rating and set a $70.00 target price on shares of Robinhood Markets in a report on Thursday, May 1st. KeyCorp lifted their target price on Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Finally, Citigroup lifted their target price on Robinhood Markets from $50.00 to $100.00 and gave the stock a "neutral" rating in a report on Monday. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $76.06.

Robinhood Markets Price Performance

Shares of HOOD traded up $2.54 during trading hours on Thursday, reaching $97.08. 26,472,879 shares of the company's stock traded hands, compared to its average volume of 29,921,098. The firm has a market capitalization of $85.96 billion, a price-to-earnings ratio of 55.13, a P/E/G ratio of 4.64 and a beta of 2.36. Robinhood Markets has a twelve month low of $13.98 and a twelve month high of $100.88. The business's fifty day simple moving average is $71.45 and its two-hundred day simple moving average is $54.49.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly 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). The business had revenue of $927.00 million for 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%. Robinhood Markets's revenue for the quarter was up 50.0% on a year-over-year basis. During the same period last year, the business posted $0.18 earnings per share. On average, equities research analysts expect that Robinhood Markets will post 1.35 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $93.88, for a total transaction of $2,347,000.00. Following the completion of the sale, the insider directly owned 816,887 shares in the company, valued at $76,689,351.56. The trade was a 2.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christopher D. Payne bought 26,500 shares of Robinhood Markets stock in a transaction that occurred on Friday, June 13th. The stock was bought at an average price of $74.19 per share, with a total value of $1,966,035.00. Following the completion of the acquisition, the director owned 26,500 shares in the company, valued at approximately $1,966,035. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders sold 2,472,702 shares of company stock worth $179,396,832 over the last quarter. Insiders own 14.47% of the company's stock.

Institutional Investors Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ARS Wealth Advisors Group LLC acquired a new position in shares of Robinhood Markets during the second quarter worth approximately $212,000. Redhawk Wealth Advisors Inc. acquired a new position in shares of Robinhood Markets during the second quarter worth approximately $394,000. Fulton Bank N.A. acquired a new position in shares of Robinhood Markets during the second quarter worth approximately $517,000. Cypress Point Wealth Management LLC acquired a new position in shares of Robinhood Markets during the second quarter worth approximately $245,000. Finally, NorthCrest Asset Manangement LLC bought a new stake in shares of Robinhood Markets during the second quarter valued at approximately $406,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.