Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $145.00 at Mizuho

Key Points

• Analysts at Mizuho have raised Robinhood Markets' price target from $120.00 to $145.00, indicating a potential upside of 22.36% from its current price.
• Robinhood reported a $0.42 EPS for the last quarter, exceeding the consensus estimate by $0.12, with revenues rising 45.0% year-over-year to $989 million.
• Insider trading activity included a significant sale by Director Baiju Bhatt, who sold over 1.5 million shares for approximately $156.8 million.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) had its target price upped by analysts at Mizuho from $120.00 to $145.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Mizuho's price target indicates a potential upside of 22.36% from the stock's current price.

HOOD has been the topic of several other reports. Cantor Fitzgerald lifted their price objective on Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Needham & Company LLC lifted their target price on Robinhood Markets from $71.00 to $120.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Keefe, Bruyette & Woods lifted their target price on Robinhood Markets from $89.00 to $106.00 and gave the stock a "market perform" rating in a research report on Thursday, July 31st. Piper Sandler initiated coverage on Robinhood Markets in a research report on Wednesday. They issued an "overweight" rating and a $120.00 target price for the company. Finally, JMP Securities lifted their target price on Robinhood Markets from $125.00 to $130.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 31st. Eleven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Robinhood Markets has a consensus rating of "Moderate Buy" and a consensus target price of $101.88.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $118.50 on Wednesday. The company has a market cap of $105.31 billion, a price-to-earnings ratio of 60.15, a price-to-earnings-growth ratio of 4.30 and a beta of 2.36. Robinhood Markets has a 12 month low of $18.83 and a 12 month high of $118.70. The stock's 50-day moving average is $104.71 and its 200-day moving average is $72.20.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its 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 return on equity of 17.48% and a net margin of 50.13%.The business had revenue of $989.00 million for the quarter, compared to the consensus estimate of $893.93 million. During the same period last year, the business posted $0.21 EPS. The company's revenue was up 45.0% on a year-over-year basis. Research analysts anticipate that Robinhood Markets will post 1.35 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In other news, Director Baiju Bhatt sold 1,568,421 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $99.98, for a total transaction of $156,810,731.58. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Steven M. Quirk sold 92,257 shares of the business's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $84.96, for a total value of $7,838,154.72. Following the completion of the sale, the insider directly owned 136,364 shares in the company, valued at $11,585,485.44. This represents a 40.35% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,355,381 shares of company stock worth $539,335,586. 19.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Robinhood Markets

A number of hedge funds and other institutional investors have recently modified their holdings of HOOD. Whipplewood Advisors LLC boosted its position in shares of Robinhood Markets by 564.4% in the 1st 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 period. Hantz Financial Services Inc. boosted its position in shares of Robinhood Markets by 120.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 271 shares of the company's stock valued at $25,000 after purchasing an additional 148 shares during the period. Hemington Wealth Management boosted its position in shares of Robinhood Markets by 52.2% in the 1st 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 period. Smithfield Trust Co acquired a new position in shares of Robinhood Markets in the 2nd quarter valued at $29,000. Finally, Wayfinding Financial LLC acquired a new position in shares of Robinhood Markets in the 1st quarter valued at $30,000. 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.

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