Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $76.00

Robinhood Markets (NASDAQ:HOOD) had its price objective lifted by research analysts at Barclays from $54.00 to $76.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 35.93% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Sanford C. Bernstein raised their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Raymond James started coverage on Robinhood Markets in a research report on Wednesday, February 5th. They set a “market perform” rating for the company. JMP Securities boosted their target price on Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a report on Tuesday, November 12th. Needham & Company LLC raised their price target on Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a report on Thursday. Finally, Citigroup upped their price target on shares of Robinhood Markets from $25.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.07.

Robinhood Markets Stock Up 4.8 %

Shares of HOOD stock opened at $55.91 on Thursday. The business’s fifty day moving average is $44.48 and its 200 day moving average is $31.90. The stock has a market cap of $49.42 billion, a price-to-earnings ratio of 94.76, a PEG ratio of 0.73 and a beta of 2.13. Robinhood Markets has a twelve month low of $11.43 and a twelve month high of $57.27.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. Equities research analysts expect that Robinhood Markets will post 0.97 earnings per share for the current fiscal year.

Insider Activity at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $38.22, for a total value of $477,750.00. Following the completion of the sale, the insider now owns 1,106,955 shares of the company’s stock, valued at $42,307,820.10. The trade was a 1.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total value of $29,370,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 3,948,427 shares of company stock worth $165,005,244 over the last quarter. Company insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Large investors have recently made changes to their positions in the company. FMR LLC boosted its holdings in shares of Robinhood Markets by 31.3% in the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after buying an additional 3,368,118 shares during the last quarter. State Street Corp boosted its stake in shares of Robinhood Markets by 8.7% during the 3rd quarter. State Street Corp now owns 13,558,321 shares of the company’s stock worth $317,536,000 after acquiring an additional 1,085,679 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Robinhood Markets by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company’s stock worth $455,464,000 after acquiring an additional 555,299 shares during the last quarter. Norges Bank bought a new stake in shares of Robinhood Markets during the 4th quarter valued at $329,598,000. Finally, GQG Partners LLC purchased a new stake in shares of Robinhood Markets in the 4th quarter worth $302,325,000. 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.