Robinhood Markets (NASDAQ:HOOD) Given New $115.00 Price Target at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald lowered Robinhood Markets’ price target to $115 from $130 while maintaining an “overweight” rating, implying 32.86% upside from the stock’s $86.56 opening price.
• Analyst sentiment remains broadly positive: 21 analysts rate the stock a Buy and five rate it a Hold, producing a “Moderate Buy” consensus and an average price target of $120.52.
• Robinhood exceeded quarterly expectations, reporting $0.62 in EPS versus $0.44 expected and $1.31 billion in revenue, up 32.5% year over year. Institutional investors own 93.27% of the company, while recent insider activity included both significant purchases and sales.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) had its price objective dropped by stock analysts at Cantor Fitzgerald from $130.00 to $115.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Cantor Fitzgerald's price objective would indicate a potential upside of 32.86% from the stock's current price.

Other analysts have also recently issued reports about the company. Mizuho upped their price objective on Robinhood Markets from $115.00 to $130.00 and gave the stock an "outperform" rating in a report on Thursday, July 2nd. Sanford C. Bernstein upped their target price on shares of Robinhood Markets from $130.00 to $160.00 and gave the company an "outperform" rating in a research report on Monday, July 20th. Morgan Stanley upped their price objective on Robinhood Markets from $95.00 to $124.00 and gave the company an "equal weight" rating in a research report on Friday, July 10th. Deutsche Bank Aktiengesellschaft increased their price target on Robinhood Markets from $105.00 to $113.00 and gave the company a "buy" rating in a report on Tuesday, June 30th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Robinhood Markets from $75.00 to $65.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 29th. Twenty-one equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $120.52.

Robinhood Markets Stock Performance

HOOD opened at $86.56 on Monday. The firm has a market cap of $77.95 billion, a P/E ratio of 38.13, a PEG ratio of 1.80 and a beta of 2.35. Robinhood Markets has a 1-year low of $63.51 and a 1-year high of $153.86. The company has a 50 day simple moving average of $98.02 and a two-hundred day simple moving average of $87.42. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.22 and a quick ratio of 1.22.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.18. Robinhood Markets had a return on equity of 22.43% and a net margin of 42.01%.The firm had revenue of $1.31 billion during the quarter, compared to analysts' expectations of $1.29 billion. During the same quarter last year, the business posted $0.42 earnings per share. The firm's revenue was up 32.5% on a year-over-year basis. Equities analysts forecast that Robinhood Markets will post 2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Meyer Malka acquired 250,000 shares of Robinhood Markets stock in a transaction that occurred on Friday, June 5th. The stock was purchased at an average price of $80.74 per share, for a total transaction of $20,185,000.00. Following the purchase, the director directly owned 3,924,427 shares in the company, valued at $316,858,235.98. The trade was a 6.80% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Steven M. Quirk sold 19,377 shares of Robinhood Markets stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $119.96, for a total transaction of $2,324,464.92. Following the completion of the transaction, the insider directly owned 62,612 shares in the company, valued at $7,510,935.52. This represents a 23.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders purchased 680,000 shares of company stock valued at $55,306,560 and sold 621,263 shares valued at $66,024,957. Company insiders own 13.48% of the company's stock.

Institutional Investors Weigh In On Robinhood Markets

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its position in Robinhood Markets by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 95,771,497 shares of the company's stock valued at $10,831,756,000 after buying an additional 1,334,443 shares during the period. State Street Corp boosted its stake in shares of Robinhood Markets by 2.7% during the 4th quarter. State Street Corp now owns 33,121,452 shares of the company's stock worth $3,746,036,000 after acquiring an additional 875,297 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Robinhood Markets by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 21,171,925 shares of the company's stock valued at $2,386,944,000 after acquiring an additional 356,902 shares during the period. Morgan Stanley increased its stake in shares of Robinhood Markets by 23.9% in the 4th quarter. Morgan Stanley now owns 10,683,776 shares of the company's stock valued at $1,208,335,000 after purchasing an additional 2,061,832 shares in the last quarter. Finally, Norges Bank acquired a new position in Robinhood Markets in the 4th quarter worth about $1,202,160,000. Institutional investors and hedge funds own 93.27% of the company's stock.

Robinhood Markets Company Profile

Robinhood Markets, Inc NASDAQ: HOOD is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to "democratize finance for all." Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood's core products and services include a mobile app and web platform for trading U.S.

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