Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $124.00

Key Points

• Morgan Stanley raised its price target on Robinhood Markets from $95 to $124 while keeping an “equal weight” rating, implying about 11.39% upside from the current price.
• Analyst sentiment remains broadly positive overall, with Robinhood carrying an average “Moderate Buy” rating and a consensus target price of $118 across the analyst community.
• Robinhood shares were trading at $111.32, and the company recently reported Q1 earnings of $0.38 per share on $1.07 billion in revenue, missing both EPS and revenue estimates despite 15.1% year-over-year revenue growth.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) had its price objective raised by Morgan Stanley from $95.00 to $124.00 in a report issued on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's price target points to a potential upside of 11.39% from the company's current price.

Other equities analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Robinhood Markets from $105.00 to $113.00 and gave the company a "buy" rating in a report on Tuesday, June 30th. Jefferies Financial Group dropped their target price on shares of Robinhood Markets from $88.00 to $84.00 and set a "buy" rating on the stock in a research report on Monday, April 6th. Citigroup restated a "market outperform" rating on shares of Robinhood Markets in a research note on Thursday, May 28th. China Renaissance started coverage on shares of Robinhood Markets in a research note on Tuesday. They set a "buy" rating for the company. Finally, JPMorgan Chase & Co. cut their target price on Robinhood Markets from $113.00 to $92.00 and set a "neutral" rating on the stock in a research report on Thursday, April 23rd. Twenty-one research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $118.00.

Robinhood Markets Price Performance

Shares of HOOD traded down $3.79 during midday trading on Friday, hitting $111.32. The stock had a trading volume of 7,497,323 shares, compared to its average volume of 30,021,457. The stock's 50 day moving average is $90.20 and its 200 day moving average is $89.33. The firm has a market cap of $100.24 billion, a PE ratio of 54.09, a price-to-earnings-growth ratio of 2.54 and a beta of 2.33. Robinhood Markets has a 1 year low of $63.51 and a 1 year high of $153.86.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.01). Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The business had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.14 billion. During the same quarter in the previous year, the firm earned $0.37 EPS. Robinhood Markets's revenue was up 15.1% compared to the same quarter last year. As a group, equities research analysts expect that Robinhood Markets will post 1.81 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other news, insider Steven M. Quirk sold 19,377 shares of Robinhood Markets stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $119.96, for a total value of $2,324,464.92. Following the sale, the insider owned 62,612 shares in the company, valued at $7,510,935.52. This trade represents a 23.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paula Loop sold 8,336 shares of Robinhood Markets stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $120.00, for a total value of $1,000,320.00. Following the completion of the sale, the director owned 63,674 shares in the company, valued at approximately $7,640,880. The trade was a 11.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders bought 680,000 shares of company stock worth $55,306,560 and sold 659,112 shares worth $68,741,158. Insiders own 14.47% of the company's stock.

Institutional Trading of Robinhood Markets

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp lifted its holdings in shares of Robinhood Markets by 103.2% in the 3rd quarter. State Street Corp now owns 32,246,155 shares of the company's stock worth $4,617,004,000 after acquiring an additional 16,375,734 shares during the last quarter. Norges Bank acquired a new position in Robinhood Markets in the 4th quarter valued at about $1,202,160,000. Amundi grew its position in Robinhood Markets by 89.0% in the 1st quarter. Amundi now owns 6,385,232 shares of the company's stock valued at $442,497,000 after acquiring an additional 3,007,103 shares in the last quarter. Corient Private Wealth LLC increased its stake in Robinhood Markets by 5,221.4% during the fourth quarter. Corient Private Wealth LLC now owns 2,559,848 shares of the company's stock worth $289,519,000 after purchasing an additional 2,511,743 shares during the period. Finally, Jennison Associates LLC increased its stake in Robinhood Markets by 95.7% during the fourth quarter. Jennison Associates LLC now owns 4,412,036 shares of the company's stock worth $499,001,000 after purchasing an additional 2,157,372 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

More Robinhood Markets News

Here are the key news stories impacting Robinhood Markets this week:

• Positive Sentiment: Robinhood’s new blockchain and tokenization push is getting strong attention, with reports of surging trading volume on Robinhood Chain and rising interest in tokenized stocks and meme coins. That reinforces the market’s view that HOOD could open new revenue streams beyond traditional brokerage. Article: Morning Minute: Robinhood Chain Explodes Onto the Crypto Scene
• Positive Sentiment: Barclays raised its price target on Robinhood and kept an overweight stance, adding to the bullish analyst tone around the stock’s growth prospects. Article: Barclays Issues Positive Forecast for Robinhood Markets NASDAQ: HOOD Stock Price
• Positive Sentiment: CEO Vlad Tenev’s comments about expanding stock-market access to more Americans highlight Robinhood’s long-term user growth ambition and its mission to broaden investing participation. Article: Robinhood CEO Vlad Tenev Says 'Only 62% of Americans' Exposed to Stocks: 'I'd Like to Get That to 100'
• Neutral Sentiment: Analyst coverage remains broadly constructive, with Robinhood described as a “Moderate Buy,” but that mostly confirms existing expectations rather than adding a fresh catalyst. Article: Robinhood Markets, Inc. NASDAQ: HOOD Given Consensus Recommendation of "Moderate Buy" by Analysts
• Neutral Sentiment: Cathie Wood’s ARK sold some HOOD shares while buying Circle, which may create mixed short-term trading signals, but the move does not appear to reflect a fundamental deterioration. Article: Cathie Wood's ARK Is Buying CRCL Stock's Slump While Selling HOOD's Gains
• Negative Sentiment: Recent insider sales, including by CEO Vladimir Tenev and director Daniel Martin Gallagher Jr., may weigh on sentiment even though the transactions were pre-arranged under Rule 10b5-1 plans. Article: Daniel Martin Gallagher, Jr. Sells 10,000 Shares of Robinhood Markets NASDAQ: HOOD 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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