Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $160.00

Key Points

• Sanford C. Bernstein raised Robinhood’s price target from $130 to $160 and kept an outperform rating, implying about 58% upside from the prior close.
• Analyst sentiment remains broadly positive: 21 analysts rate the stock a Buy, five rate it Hold, and the consensus price target is $120.
• Robinhood shares were up to $101.20 in Monday trading, while the company’s latest earnings missed estimates on both EPS and revenue even as revenue still grew 15.1% year over year.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) had its target price raised by equities researchers at Sanford C. Bernstein from $130.00 to $160.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Sanford C. Bernstein's price objective suggests a potential upside of 58.11% from the stock's previous close.

Several other equities research analysts have also recently issued reports on the stock. KeyCorp reissued an "overweight" rating and issued a $100.00 price objective on shares of Robinhood Markets in a research report on Monday, June 1st. 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 report on Wednesday, April 29th. Needham & Company LLC lifted their price target on shares of Robinhood Markets from $85.00 to $97.00 and gave the company a "buy" rating in a research note on Thursday, June 11th. Citizens Jmp reaffirmed a "market outperform" rating and set a $155.00 price target on shares of Robinhood Markets in a research note on Thursday, May 28th. Finally, Mizuho increased their price objective on Robinhood Markets from $115.00 to $130.00 and gave the stock an "outperform" rating in a research note on Thursday, July 2nd. 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, Robinhood Markets presently has a consensus rating of "Moderate Buy" and an average price target of $120.00.

Robinhood Markets Stock Performance

HOOD stock traded up $1.24 during midday trading on Monday, reaching $101.20. The company's stock had a trading volume of 7,917,614 shares, compared to its average volume of 29,736,090. Robinhood Markets has a 1 year low of $63.51 and a 1 year high of $153.86. The firm has a market capitalization of $91.13 billion, a price-to-earnings ratio of 48.96, a PEG ratio of 2.11 and a beta of 2.33. The stock has a fifty day simple moving average of $94.26 and a two-hundred day simple moving average of $88.89.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its earnings results 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). The company had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.14 billion. Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The firm's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.37 earnings per share. As a group, analysts forecast that Robinhood Markets will post 1.86 EPS for the current fiscal year.

Insider Activity at Robinhood Markets

In related news, CEO Vladimir Tenev sold 375,000 shares of the stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $116.17, for a total transaction of $43,563,750.00. Following the completion of the sale, the chief executive officer owned 375,000 shares of the company's stock, valued at $43,563,750. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paula Loop sold 8,336 shares of the firm's stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $120.00, for a total transaction of $1,000,320.00. Following the completion of the sale, the director owned 63,674 shares of the company's stock, valued at approximately $7,640,880. This trade represents a 11.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have bought 680,000 shares of company stock valued at $55,306,560 and have sold 587,875 shares valued at $62,602,915. 13.48% of the stock is currently owned by insiders.

Institutional Trading of Robinhood Markets

A number of institutional investors have recently made changes to their positions in the business. CYBER HORNET ETFs LLC raised its stake in Robinhood Markets by 527.8% in the fourth quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company's stock valued at $26,000 after buying an additional 190 shares during the last quarter. MV Capital Management Inc. purchased a new stake in shares of Robinhood Markets during the fourth quarter worth about $27,000. Swiss RE Ltd. acquired a new position in shares of Robinhood Markets during the fourth quarter valued at about $27,000. Elyxium Wealth LLC acquired a new position in shares of Robinhood Markets during the fourth quarter valued at about $27,000. Finally, Sound Income Strategies LLC raised its position in shares of Robinhood Markets by 152.6% in the 4th quarter. Sound Income Strategies LLC now owns 240 shares of the company's stock valued at $26,000 after purchasing an additional 145 shares during the last quarter. 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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