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

Robinhood Markets (NASDAQ:HOOD) had its target price increased by Barclays from $49.00 to $54.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts have also recently issued reports on HOOD. Sanford C. Bernstein increased their target price on Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Piper Sandler boosted their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. upgraded Robinhood Markets from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $20.00 to $43.00 in a report on Tuesday, January 7th. Finally, Morgan Stanley upgraded Robinhood Markets from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $24.00 to $55.00 in a report on Monday, November 25th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $42.47.

Robinhood Markets Stock Up 9.1 %

Shares of NASDAQ HOOD opened at $45.56 on Monday. Robinhood Markets has a twelve month low of $10.38 and a twelve month high of $46.22. The company’s fifty day moving average is $37.63 and its 200-day moving average is $27.75. The stock has a market cap of $40.27 billion, a price-to-earnings ratio of 77.22, a P/E/G ratio of 0.58 and a beta of 2.07.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. The business’s revenue was up 36.4% on a year-over-year basis. On average, research analysts anticipate that Robinhood Markets will post 0.91 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the company’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 value of $250,552.64. Following the transaction, the chief technology officer now owns 5,876 shares of the company’s stock, valued at approximately $250,552.64. This represents a 50.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Meyer Malka sold 1,535,681 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total value of $61,596,164.91. Following the sale, the director now directly owns 4,974,238 shares of the company’s stock, valued at approximately $199,516,686.18. The trade was a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,609,792 shares of company stock valued at $136,247,178. 19.95% of the stock is owned by insiders.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds have recently bought and sold shares of the business. Clarius Group LLC acquired a new stake in Robinhood Markets in the 4th quarter worth about $302,000. Udine Wealth Management Inc. increased its holdings in shares of Robinhood Markets by 70.2% during the fourth quarter. Udine Wealth Management Inc. now owns 78,447 shares of the company’s stock worth $2,923,000 after purchasing an additional 32,357 shares during the period. Merit Financial Group LLC acquired a new stake in shares of Robinhood Markets in the fourth quarter valued at approximately $668,000. Grant GrossMendelsohn LLC acquired a new stake in shares of Robinhood Markets in the fourth quarter valued at approximately $400,000. Finally, Avanza Fonder AB bought a new stake in shares of Robinhood Markets in the fourth quarter valued at approximately $2,606,000. 93.27% of the stock is owned by 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.