Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $99.00 at Mizuho

Robinhood Markets (NASDAQ:HOOD - Get Free Report) had its price target raised by Mizuho from $80.00 to $99.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Mizuho's target price would suggest a potential upside of 7.22% from the stock's previous close.

HOOD has been the topic of a number of other reports. Needham & Company LLC reaffirmed a "buy" rating and set a $71.00 target price on shares of Robinhood Markets in a report on Tuesday, May 27th. Redburn Atlantic reissued a "sell" rating and set a $48.00 target price (up from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. JMP Securities restated a "market outperform" rating and set a $70.00 target price on shares of Robinhood Markets in a report on Thursday, May 1st. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $60.00 price target on shares of Robinhood Markets in a report on Thursday, March 27th. Finally, Morgan Stanley increased their price objective on Robinhood Markets from $40.00 to $43.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $69.00.

Robinhood Markets Price Performance

Shares of NASDAQ HOOD traded down $1.30 during mid-day trading on Tuesday, reaching $92.33. 120,772,462 shares of the company traded hands, compared to its average volume of 28,841,151. Robinhood Markets has a fifty-two week low of $13.98 and a fifty-two week high of $99.09. The firm has a market cap of $81.75 billion, a PE ratio of 52.46, a price-to-earnings-growth ratio of 5.52 and a beta of 2.36. The stock has a fifty day simple moving average of $65.93 and a 200-day simple moving average of $52.31.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.04). Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The firm had revenue of $927.00 million for the quarter, compared to analyst estimates of $917.12 million. During the same quarter last year, the business posted $0.18 earnings per share. The firm's revenue for the quarter was up 50.0% compared to the same quarter last year. As a group, analysts predict that Robinhood Markets will post 1.35 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $71.64, for a total value of $1,791,000.00. Following the completion of the sale, the insider directly owned 841,887 shares of the company's stock, valued at $60,312,784.68. This represents a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christopher D. Payne acquired 26,500 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were bought at an average cost of $74.19 per share, for a total transaction of $1,966,035.00. Following the completion of the transaction, the director directly owned 26,500 shares of the company's stock, valued at $1,966,035. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 1,722,691 shares of company stock worth $107,708,726. 19.95% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Robinhood Markets

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HOOD. MetLife Investment Management LLC increased its stake in shares of Robinhood Markets by 1.5% in the fourth quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock worth $440,000 after acquiring an additional 171 shares during the last quarter. Cigna Investments Inc. New grew its stake in Robinhood Markets by 2.7% in the first quarter. Cigna Investments Inc. New now owns 6,730 shares of the company's stock valued at $280,000 after purchasing an additional 174 shares in the last quarter. Hemington Wealth Management increased its position in Robinhood Markets by 52.2% in the 1st 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. Dorsey & Whitney Trust CO LLC increased its position in Robinhood Markets by 2.4% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company's stock worth $368,000 after purchasing an additional 233 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of Robinhood Markets by 4.0% during the 1st quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company's stock worth $290,000 after purchasing an additional 265 shares in 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.