Barclays Raises Robinhood Markets (NASDAQ:HOOD) Price Target to $26.00

Robinhood Markets (NASDAQ:HOOD) had its target price increased by equities research analysts at Barclays from $23.00 to $26.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s target price would indicate a potential upside of 8.47% from the stock’s previous close.

A number of other brokerages also recently weighed in on HOOD. JPMorgan Chase & Co. upped their price target on shares of Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a report on Thursday, October 17th. Piper Sandler upped their price target on shares of Robinhood Markets from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Needham & Company LLC reissued a “hold” rating on shares of Robinhood Markets in a report on Thursday. Bank of America upped their price target on shares of Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a report on Monday, August 12th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Robinhood Markets presently has an average rating of “Hold” and an average target price of $25.17.

Robinhood Markets Stock Up 2.0 %

HOOD stock opened at $23.97 on Thursday. The company has a market capitalization of $21.21 billion, a P/E ratio of 40.63 and a beta of 1.84. The company has a 50-day simple moving average of $23.44 and a 200 day simple moving average of $21.40. Robinhood Markets has a fifty-two week low of $7.91 and a fifty-two week high of $28.58.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data 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). The company had revenue of $637.00 million during the quarter, compared to analyst estimates of $660.53 million. Robinhood Markets had a return on equity of 7.61% and a net margin of 21.80%. The business’s revenue for the quarter was up 36.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.09) EPS. Equities analysts anticipate that Robinhood Markets will post 0.74 EPS for the current year.

Insiders Place Their Bets

In other Robinhood Markets news, Director Baiju Bhatt sold 98,404 shares of the stock in a transaction that occurred on Thursday, October 17th. The shares were 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 $66,554.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Robinhood Markets news, Director Baiju Bhatt sold 98,404 shares of the stock in a transaction that occurred on Thursday, October 17th. The shares were 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 $66,554.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Meyer Malka sold 3,225,806 shares of the firm’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $25.07, for a total transaction of $80,870,956.42. Following the transaction, the director now owns 29,357,336 shares in the company, valued at $735,988,413.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,639,654 shares of company stock worth $110,241,632 in the last quarter. 19.95% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of HOOD. Allspring Global Investments Holdings LLC raised its holdings in shares of Robinhood Markets by 1,211,858.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock valued at $89,410,000 after purchasing an additional 3,817,355 shares in the last quarter. Renaissance Technologies LLC grew its stake in Robinhood Markets by 37.7% in the 2nd quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock valued at $173,770,000 after buying an additional 2,094,800 shares during the last quarter. Sparta 24 Ltd. grew its stake in Robinhood Markets by 905.8% in the 3rd quarter. Sparta 24 Ltd. now owns 1,625,158 shares of the company’s stock valued at $38,061,000 after buying an additional 1,463,578 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Robinhood Markets by 169.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,991,586 shares of the company’s stock valued at $40,092,000 after buying an additional 1,251,495 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in Robinhood Markets by 274.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,661,824 shares of the company’s stock valued at $37,341,000 after buying an additional 1,218,317 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

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.