Robinhood Markets (NASDAQ:HOOD) Sets New 12-Month High - Time to Buy?

Key Points

• Robinhood Markets reached a new 52-week high on Thursday, trading at $124.28 with a volume of over 21 million shares.
• Wall Street analysts have issued optimistic ratings, with target prices ranging from $96.00 to $120.00, reflecting strong confidence in the stock's performance.
• Robinhood reported $0.42 EPS for the last quarter, beating estimates and showcasing a 45% year-over-year revenue increase to $989 million.

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) reached a new 52-week high on Thursday . The stock traded as high as $124.28 and last traded at $123.71, with a volume of 21000179 shares. The stock had previously closed at $118.64.

Analyst Upgrades and Downgrades

HOOD has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft upped their price target on Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a report on Monday, June 9th. JMP Securities upped their price target on Robinhood Markets from $125.00 to $130.00 and gave the company a "market outperform" rating in a report on Thursday, July 31st. Redburn Atlantic reaffirmed a "sell" rating and issued a $48.00 price target (up previously from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. The Goldman Sachs Group upped their price target on Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a report on Monday, July 7th. Finally, Piper Sandler initiated coverage on Robinhood Markets in a report on Wednesday, September 10th. They issued an "overweight" rating and a $120.00 price target for the company. Eleven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $101.88.

Robinhood Markets Trading Up 1.6%

The stock has a fifty day moving average price of $107.87 and a 200-day moving average price of $75.37. The firm has a market capitalization of $109.22 billion, a price-to-earnings ratio of 62.33, a PEG ratio of 4.40 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $893.93 million. During the same period in the prior year, the firm posted $0.21 EPS. Robinhood Markets's quarterly revenue was up 45.0% compared to the same quarter last year. On average, equities analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insiders Place Their Bets

In related news, Director Meyer Malka sold 1,093,288 shares of the stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $103.87, for a total transaction of $113,559,824.56. Following the sale, the director directly owned 3,976,234 shares in the company, valued at $413,011,425.58. This represents a 21.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Baiju Bhatt sold 1,568,421 shares of the 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. Insiders sold a total of 5,767,855 shares of company stock worth $588,837,174 in the last 90 days. 14.47% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Robinhood Markets

Large investors have recently bought and sold shares of the business. Whipplewood Advisors LLC grew its position in Robinhood Markets by 564.4% during the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after acquiring an additional 508 shares during the last quarter. Hantz Financial Services Inc. grew its position in Robinhood Markets by 120.3% during 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 grew its position in Robinhood Markets by 52.2% during the 1st quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after acquiring an additional 218 shares during the last quarter. Smithfield Trust Co bought a new stake in Robinhood Markets during the 2nd quarter worth approximately $29,000. Finally, Wayfinding Financial LLC bought a new stake in Robinhood Markets during the 1st quarter worth approximately $30,000. 93.27% of the stock is currently owned by 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.