Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $170.00 at JMP Securities

Key Points

• Robinhood Markets received a price target increase from JMP Securities, raising it from $130.00 to $170.00, indicating a potential upside of 13.87% based on its previous close.
• Analysts from several firms have issued positive ratings, with twelve research analysts recommending a buy, and an average price target of $115.94.
• CEO Vladimir Tenev recently sold 750,000 shares of Robinhood stock for approximately $104.8 million, amid an overall trend of high insider sales in the past ninety days.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) had its price objective increased by stock analysts at JMP Securities from $130.00 to $170.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a "market outperform" rating on the stock. JMP Securities' price target suggests a potential upside of 13.87% from the company's previous close.

Other research analysts have also issued research reports about the stock. Piper Sandler reiterated an "overweight" rating and set a $140.00 price objective (up previously from $120.00) on shares of Robinhood Markets in a research note on Tuesday, September 23rd. Barclays increased their price objective on Robinhood Markets from $102.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Bank of America boosted their target price on Robinhood Markets from $139.00 to $157.00 and gave the stock a "buy" rating in a research note on Thursday, October 2nd. Mizuho raised their price target on Robinhood Markets from $120.00 to $145.00 and gave the stock an "outperform" rating in a report on Wednesday, September 10th. Finally, Needham & Company LLC boosted their price target on Robinhood Markets from $120.00 to $145.00 and gave the stock a "buy" rating in a research note on Tuesday, September 30th. Twelve research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $115.94.

Robinhood Markets Stock Down 1.0%

Robinhood Markets stock opened at $149.30 on Thursday. The firm has a market cap of $132.67 billion, a P/E ratio of 76.19, a P/E/G ratio of 4.03 and a beta of 2.42. The business has a fifty day moving average of $116.93 and a two-hundred day moving average of $84.46. Robinhood Markets has a twelve month low of $23.00 and a twelve month high of $153.86.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.12. The company 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 quarterly revenue was up 45.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.21 earnings per share. Equities analysts expect that Robinhood Markets will post 1.35 earnings per share for the current year.

Insider Activity

In other news, CEO Vladimir Tenev sold 750,000 shares of the firm's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $139.73, for a total transaction of $104,797,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Baiju Bhatt sold 1,568,421 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $99.98, for a total value of $156,810,731.58. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,681,462 shares of company stock worth $618,250,191. 14.47% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Robinhood Markets

A number of large investors have recently made changes to their positions in HOOD. Hantz Financial Services Inc. increased its stake 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 worth $25,000 after acquiring an additional 148 shares during the last quarter. Hemington Wealth Management increased its position in Robinhood Markets by 52.2% during the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after purchasing an additional 218 shares during the last quarter. Smithfield Trust Co purchased a new position in Robinhood Markets during the second quarter worth about $29,000. Wayfinding Financial LLC acquired a new position in Robinhood Markets in the 1st quarter valued at about $30,000. Finally, Pandora Wealth Inc. purchased a new stake in shares of Robinhood Markets in the 1st quarter valued at approximately $33,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Company Profile

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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