Barclays Raises Robinhood Markets (NASDAQ:HOOD) Price Target to $120.00

Key Points

• Barclays has raised its price target for Robinhood Markets from $102.00 to $120.00, indicating a potential upside of 16.45% based on the stock's previous close.
• Multiple analysts have issued upgrades to Robinhood's stock, with Cantor Fitzgerald and Mizuho also setting price targets of $118.00 and $120.00, respectively.
• Despite positive analyst ratings, Robinhood's shares are currently down 2.9%, trading at $103.05 during mid-day trading.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) had its target price hoisted by investment analysts at Barclays from $102.00 to $120.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's price target suggests a potential upside of 20.12% from the company's previous close.

Other equities research analysts also recently issued research reports about the stock. KeyCorp increased their target price on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Cantor Fitzgerald increased their target price on shares of Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a research report on Thursday. Mizuho increased their price target on shares of Robinhood Markets from $99.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday. JPMorgan Chase & Co. increased their price target on shares of Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Finally, Keefe, Bruyette & Woods increased their price target on shares of Robinhood Markets from $89.00 to $106.00 and gave the stock a "market perform" rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $96.29.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD traded down $3.15 during mid-day trading on Thursday, hitting $99.90. The stock had a trading volume of 76,566,177 shares, compared to its average volume of 43,469,824. The company has a market cap of $88.46 billion, a PE ratio of 50.71, a P/E/G ratio of 5.03 and a beta of 2.36. Robinhood Markets has a 12-month low of $13.98 and a 12-month high of $113.44. The company's 50 day moving average is $86.92 and its 200-day moving average is $62.00.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.69%. The business had revenue of $989.00 million during the quarter, compared to the consensus estimate of $893.93 million. During the same quarter in the prior year, the firm earned $0.21 EPS. The firm's quarterly revenue was up 45.0% on a year-over-year basis. On average, equities research analysts predict that Robinhood Markets will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $93.88, for a total transaction of $2,347,000.00. Following the completion of the transaction, the insider owned 816,887 shares in the company, valued at approximately $76,689,351.56. The trade was a 2.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Baiju Bhatt sold 418,338 shares of the company's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $101.88, for a total transaction of $42,620,275.44. Following the completion of the transaction, the director owned 10,518 shares of the company's stock, valued at $1,071,573.84. This trade represents a 97.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,026,690 shares of company stock valued at $257,160,102 over the last 90 days. Company insiders own 14.47% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. TD Private Client Wealth LLC boosted its holdings in Robinhood Markets by 184.4% during the first quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company's stock worth $76,000 after purchasing an additional 1,186 shares during the last quarter. Wealthcare Advisory Partners LLC acquired a new position in Robinhood Markets during the first quarter worth $277,000. Burns Matteson Capital Management LLC acquired a new position in Robinhood Markets during the first quarter worth $495,000. Fiduciary Alliance LLC acquired a new position in Robinhood Markets during the first quarter worth $2,177,000. Finally, Invesco Ltd. boosted its holdings in Robinhood Markets by 132.6% during the fourth quarter. Invesco Ltd. now owns 2,867,595 shares of the company's stock worth $106,847,000 after purchasing an additional 1,634,599 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

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.