Robinhood Markets (NASDAQ:HOOD) Stock Price Up 8.3% After Analyst Upgrade

Key Points

• Robinhood Markets shares rose 8.3% after Deutsche Bank increased its price target from $105 to $113 and kept a buy rating. The stock traded as high as $109.53, above its previous close of $100.28.
• Analyst sentiment remains broadly positive, with 20 Buy ratings and 5 Hold ratings across coverage. MarketBeat reports a consensus price target of $114.35, slightly above Deutsche Bank’s new target.
• The company continues to draw attention for its crypto expansion and new products, including blockchain and AI trading tools. However, recent coverage also notes concerns about weak core earnings and valuation, which could limit upside if growth does not improve fundamentals.

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s share price was up 8.3% during trading on Wednesday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $105.00 to $113.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Robinhood Markets traded as high as $109.53 and last traded at $108.65. 27,871,370 shares changed hands during trading, a decline of 8% from the average daily volume of 30,418,727 shares. The stock had previously closed at $100.28.

A number of other analysts have also issued reports on the company. Jefferies Financial Group lowered their target price on Robinhood Markets from $88.00 to $84.00 and set a "buy" rating on the stock in a report on Monday, April 6th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Robinhood Markets in a research note on Wednesday, June 24th. BTIG Research started coverage on shares of Robinhood Markets in a research note on Friday, June 26th. They issued a "buy" rating and a $125.00 target price for the company. The Goldman Sachs Group boosted their target price on shares of Robinhood Markets from $108.00 to $121.00 and gave the stock a "buy" rating in a research note on Monday. Finally, Argus boosted their price objective on Robinhood Markets from $90.00 to $110.00 and gave the stock a "buy" rating in a report on Wednesday, June 17th. Twenty equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $114.35.

Insider Activity at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $83.68, for a total transaction of $836,800.00. Following the completion of the transaction, the insider directly owned 481,396 shares in the company, valued at approximately $40,283,217.28. The trade was a 2.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven M. Quirk sold 10,837 shares of Robinhood Markets stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $85.91, for a total transaction of $931,006.67. Following the transaction, the insider directly owned 81,989 shares of the company's stock, valued at approximately $7,043,674.99. This trade represents a 11.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have purchased 680,000 shares of company stock worth $55,306,560 and have sold 633,484 shares worth $47,542,923. 19.95% of the stock is currently owned by company insiders.

Trending Headlines about Robinhood Markets

Here are the key news stories impacting Robinhood Markets this week:

• Positive Sentiment: Robinhood continued its crypto push, signaling that digital assets remain a major growth driver for the platform. Robinhood Continues Crypto Push
• Positive Sentiment: The company rolled out a public blockchain and is expanding deeper into crypto, which could broaden Robinhood’s product set and strengthen its long-term position in digital finance. Robinhood rolls out public blockchain as it expands deeper into crypto
• Positive Sentiment: Robinhood unveiled new AI crypto trading tools for U.S. users, plus perpetual futures in Europe and expansion plans in Canada and Singapore, reinforcing the company’s “super app” and global-growth narrative. Robinhood Accelerates International Push. What It Is Launching in Europe, Canada, and Singapore.
• Positive Sentiment: Deutsche Bank raised its price target on HOOD to $113 and kept a buy rating, highlighting continued confidence in the stock’s upside potential. Deutsche Bank price target raise
• Neutral Sentiment: Recent articles noting Robinhood’s strong second-quarter stock performance may be supporting sentiment, but they do not appear to add new company-specific catalysts. 3 Finance Stocks That Stole the Spotlight With Strong Q2 Gains
• Negative Sentiment: Some coverage continues to point to weak core earnings and valuation concerns, which could temper enthusiasm if growth initiatives do not translate into stronger fundamentals. Robinhood Markets (HOOD) Fell on Weak Core Earnings

Institutional Trading of Robinhood Markets

Large investors have recently made changes to their positions in the company. CYBER HORNET ETFs LLC boosted its holdings in shares of Robinhood Markets by 527.8% in the 4th quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company's stock valued at $26,000 after purchasing an additional 190 shares in the last quarter. MV Capital Management Inc. acquired a new stake in Robinhood Markets during the 4th quarter valued at approximately $27,000. Swiss RE Ltd. bought a new stake in Robinhood Markets during the fourth quarter valued at $27,000. Elyxium Wealth LLC bought a new position in shares of Robinhood Markets during the 4th quarter worth approximately $27,000. Finally, Sound Income Strategies LLC raised its holdings in shares of Robinhood Markets by 152.6% during the fourth 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 period. Institutional investors and hedge funds own 93.27% of the company's stock.

Robinhood Markets Price Performance

The firm has a fifty day simple moving average of $86.34 and a 200-day simple moving average of $89.60. The firm has a market cap of $97.84 billion, a P/E ratio of 52.49, a price-to-earnings-growth ratio of 2.39 and a beta of 2.35.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $0.38 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.01). The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.14 billion. Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The business's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.37 EPS. On average, equities analysts predict that Robinhood Markets, Inc. will post 1.81 earnings per share for the current year.

About Robinhood Markets

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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