Robinhood Markets (NASDAQ:HOOD) Stock Price Expected to Rise, Mizuho Analyst Says

Robinhood Markets (NASDAQ:HOOD) had its target price upped by analysts at Mizuho from $65.00 to $80.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price target would suggest a potential upside of 2.11% from the company’s current price.

Several other research firms also recently commented on HOOD. JPMorgan Chase & Co. boosted their target price on shares of Robinhood Markets from $44.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, May 1st. Barclays reduced their price objective on shares of Robinhood Markets from $76.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, April 7th. JMP Securities reiterated a “market outperform” rating and set a $70.00 target price on shares of Robinhood Markets in a research note on Thursday, May 1st. Citigroup lowered their price target on shares of Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $60.00 price target on shares of Robinhood Markets in a report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $58.00.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $78.35 on Tuesday. The firm’s 50 day simple moving average is $58.45 and its 200-day simple moving average is $49.46. The company has a market cap of $69.38 billion, a P/E ratio of 44.52, a price-to-earnings-growth ratio of 4.42 and a beta of 2.25. Robinhood Markets has a fifty-two week low of $13.98 and a fifty-two week high of $78.74.

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

Insider Buying and Selling at Robinhood Markets

In related news, Director Baiju Bhatt sold 418,338 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $74.29, for a total value of $31,078,330.02. Following the sale, the director now directly owns 7,863 shares in the company, valued at $584,142.27. This trade represents a 98.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Christopher D. Payne bought 26,500 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were acquired at an average cost of $74.19 per share, with a total value of $1,966,035.00. Following the completion of the purchase, the director now owns 26,500 shares in the company, valued at $1,966,035. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 2,645,121 shares of company stock worth $142,723,337. Company insiders own 14.47% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Several hedge funds have recently made changes to their positions in the business. Voya Investment Management LLC grew its stake in shares of Robinhood Markets by 548.5% during the 1st quarter. Voya Investment Management LLC now owns 622,190 shares of the company’s stock worth $25,896,000 after acquiring an additional 526,245 shares in the last quarter. Cim LLC lifted its holdings in Robinhood Markets by 49.8% during the 1st quarter. Cim LLC now owns 81,911 shares of the company’s stock valued at $3,409,000 after purchasing an additional 27,230 shares during the last quarter. Silicon Valley Capital Partners lifted its holdings in shares of Robinhood Markets by 50.0% during the first quarter. Silicon Valley Capital Partners now owns 1,500 shares of the company’s stock worth $63,000 after buying an additional 500 shares in the last quarter. Strs Ohio acquired a new stake in shares of Robinhood Markets during the first quarter worth $11,216,000. Finally, Acadian Asset Management LLC lifted its holdings in shares of Robinhood Markets by 293.6% during the first quarter. Acadian Asset Management LLC now owns 144,791 shares of the company’s stock worth $6,018,000 after buying an additional 108,001 shares in the last quarter. 93.27% of the stock is 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.