Robinhood Markets (NASDAQ:HOOD) Sets New 1-Year High on Analyst Upgrade

Robinhood Markets, Inc. (NASDAQ:HOOD) reached a new 52-week high during trading on Friday after Barclays raised their price target on the stock from $57.00 to $102.00. Barclays currently has an overweight rating on the stock. Robinhood Markets traded as high as $101.33 and last traded at $100.79, with a volume of 20002246 shares changing hands. The stock had previously closed at $98.70.

A number of other analysts also recently issued reports on HOOD. JMP Securities restated a “market outperform” rating and issued a $70.00 price target on shares of Robinhood Markets in a research report on Thursday, May 1st. JPMorgan Chase & Co. raised their price target on Robinhood Markets from $44.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, May 1st. Citigroup raised their price target on Robinhood Markets from $50.00 to $100.00 and gave the stock a “neutral” rating in a research report on Monday, July 7th. Needham & Company LLC restated a “buy” rating and issued a $71.00 price target on shares of Robinhood Markets in a research report on Tuesday, May 27th. Finally, Cantor Fitzgerald raised their price target on Robinhood Markets from $89.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Robinhood Markets presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.06.

Insiders Place Their Bets

In other Robinhood Markets news, Director Christopher D. Payne bought 26,500 shares of Robinhood Markets stock in a transaction on Friday, June 13th. The shares were acquired at an average price of $74.19 per share, for a total transaction of $1,966,035.00. Following the completion of the purchase, the director directly owned 26,500 shares in the company, valued at approximately $1,966,035. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $93.88, for a total value of $2,347,000.00. Following the completion of the sale, the insider owned 816,887 shares in the company, valued at approximately $76,689,351.56. The trade was a 2.97% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,472,702 shares of company stock valued at $179,396,832. Insiders own 14.47% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors have recently made changes to their positions in the company. Whipplewood Advisors LLC increased its stake in shares of Robinhood Markets by 564.4% during the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company’s stock valued at $25,000 after buying an additional 508 shares during the period. Hemington Wealth Management increased its stake in shares of Robinhood Markets by 52.2% during the first quarter. Hemington Wealth Management now owns 636 shares of the company’s stock valued at $26,000 after buying an additional 218 shares during the period. Wayfinding Financial LLC purchased a new position in shares of Robinhood Markets during the first quarter valued at $30,000. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of Robinhood Markets during the second quarter valued at $74,000. Finally, Pandora Wealth Inc. purchased a new position in shares of Robinhood Markets during the first quarter valued at $33,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Down 0.4%

The stock has a market cap of $87.08 billion, a PE ratio of 55.88, a price-to-earnings-growth ratio of 5.30 and a beta of 2.36. The firm has a 50 day moving average price of $73.48 and a 200 day moving average price of $55.42.

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

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.