Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $170.00 at Citizens Jmp

Key Points

• Citizens Jmp has raised its price target for Robinhood Markets from $130.00 to $170.00, suggesting a potential upside of 13.80% from the stock's current price.
• Robinhood reported $0.42 earnings per share for the last quarter, exceeding expectations of $0.30, and revenue increased by 45.0% year-over-year.
• Thirteen investment analysts have rated Robinhood as a Buy, contributing to an average rating of "Moderate Buy" with a consensus price target of $118.94.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) had its target price raised by research analysts at Citizens Jmp from $130.00 to $170.00 in a report issued on Thursday, Marketbeat Ratings reports. The firm currently has a "mkt outperform" rating on the stock. Citizens Jmp's target price would suggest a potential upside of 13.54% from the stock's current price.

Other equities research analysts have also recently issued reports about the company. KeyCorp upped their target price on Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Cantor Fitzgerald raised their target price on Robinhood Markets from $100.00 to $118.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Piper Sandler reiterated an "overweight" rating and set a $140.00 price target (up previously from $120.00) on shares of Robinhood Markets in a research note on Tuesday, September 23rd. Bank of America lifted their price target on Robinhood Markets from $139.00 to $157.00 and gave the company a "buy" rating in a research note on Thursday, October 2nd. Finally, Barclays lifted their target price on shares of Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Thirteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $118.94.

Robinhood Markets Stock Down 0.8%

HOOD stock traded down $1.15 during midday trading on Thursday, reaching $149.73. 8,608,355 shares of the company's stock traded hands, compared to its average volume of 41,737,684. The company has a 50-day simple moving average of $116.93 and a two-hundred day simple moving average of $84.46. The company has a market cap of $133.06 billion, a price-to-earnings ratio of 76.01, a PEG ratio of 4.03 and a beta of 2.42. Robinhood Markets has a 1-year low of $23.00 and a 1-year high of $153.86.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.12. The business had revenue of $989.00 million for the quarter, compared to analyst estimates of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The firm's revenue was up 45.0% on a year-over-year basis. During the same period last year, the company earned $0.21 EPS. Equities research analysts forecast that Robinhood Markets will post 1.35 EPS for the current year.

Insider Buying and Selling

In other Robinhood Markets news, Director Baiju Bhatt sold 418,338 shares of Robinhood Markets stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $119.42, for a total value of $49,957,923.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Steven M. Quirk sold 60,113 shares of the business's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $100.91, for a total transaction of $6,066,002.83. Following the completion of the sale, the insider owned 94,454 shares in the company, valued at approximately $9,531,353.14. This trade represents a 38.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,681,462 shares of company stock worth $618,250,191 in the last 90 days. 14.47% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. WCM Investment Management LLC grew its position in Robinhood Markets by 3,615.7% during the second quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company's stock valued at $1,081,910,000 after buying an additional 11,244,182 shares during the period. Norges Bank purchased a new stake in shares of Robinhood Markets in the 2nd quarter valued at approximately $973,122,000. Kingstone Capital Partners Texas LLC purchased a new stake in Robinhood Markets during the 2nd quarter worth approximately $951,479,000. Vanguard Group Inc. raised its holdings in shares of Robinhood Markets by 8.6% in the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock valued at $3,089,914,000 after purchasing an additional 5,874,701 shares in the last quarter. Finally, AGF Management Ltd. grew its position in shares of Robinhood Markets by 286.0% in the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock valued at $239,053,000 after buying an additional 4,255,862 shares during the last quarter. Hedge funds and other institutional investors 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.