Barclays Forecasts Strong Price Appreciation for Robinhood Markets (NASDAQ:HOOD) Stock

Robinhood Markets (NASDAQ:HOOD - Free Report) had its price objective hoisted by Barclays from $49.00 to $54.00 in a report issued on Monday,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts also recently commented on the stock. KeyCorp increased their price objective on shares of Robinhood Markets from $30.00 to $47.00 and gave the company an "overweight" rating in a research report on Thursday, December 5th. JMP Securities increased their price target on shares of Robinhood Markets from $33.00 to $40.00 and gave the company a "market outperform" rating in a report on Tuesday, November 12th. Citigroup upped their price objective on Robinhood Markets from $25.00 to $45.00 and gave the company a "neutral" rating in a research report on Friday. Deutsche Bank Aktiengesellschaft lifted their target price on Robinhood Markets from $36.00 to $42.00 and gave the stock a "buy" rating in a report on Thursday, December 5th. Finally, Piper Sandler increased their price objective on Robinhood Markets from $36.00 to $42.00 and gave the company an "overweight" rating in a research report on Monday, December 2nd. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $42.47.

Robinhood Markets Stock Performance

Shares of NASDAQ HOOD traded down $1.22 during midday trading on Monday, hitting $38.86. 8,654,435 shares of the company traded hands, compared to its average volume of 16,470,025. Robinhood Markets has a 12-month low of $10.38 and a 12-month high of $43.83. The firm has a market cap of $34.35 billion, a P/E ratio of 65.87, a P/E/G ratio of 0.81 and a beta of 2.07. The stock has a 50-day moving average price of $36.99 and a 200 day moving average price of $27.49.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The firm had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. During the same quarter last year, the company posted ($0.09) EPS. Robinhood Markets's revenue for the quarter was up 36.4% compared to the same quarter last year. As a group, equities analysts expect that Robinhood Markets will post 0.8 earnings per share for the current year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the business's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $42.64, for a total transaction of $250,552.64. Following the completion of the transaction, the chief technology officer now owns 5,876 shares in the company, valued at $250,552.64. The trade was a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Baiju Bhatt sold 98,404 shares of the stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $26.40, for a total value of $2,597,865.60. Following the completion of the sale, the director now owns 2,521 shares in the company, valued at approximately $66,554.40. The trade was a 97.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,708,196 shares of company stock valued at $138,845,043. Insiders own 19.95% of the company's stock.

Institutional Investors Weigh In On Robinhood Markets

Several large investors have recently added to or reduced their stakes in HOOD. HM Payson & Co. grew its holdings in Robinhood Markets by 53.5% during the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company's stock worth $28,000 after acquiring an additional 410 shares in the last quarter. True Wealth Design LLC bought a new position in shares of Robinhood Markets during the third quarter valued at approximately $30,000. Eastern Bank purchased a new position in Robinhood Markets during the third quarter valued at approximately $30,000. ORG Wealth Partners LLC purchased a new position in Robinhood Markets during the third quarter valued at approximately $33,000. Finally, Connective Portfolio Management LLC purchased a new stake in Robinhood Markets during the third quarter worth $47,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

About Robinhood Markets

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.