Citigroup Issues Positive Forecast for Robinhood Markets (NASDAQ:HOOD) Stock Price

Robinhood Markets (NASDAQ:HOOD) had its target price lifted by equities research analysts at Citigroup from $25.00 to $45.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price target indicates a potential upside of 12.92% from the company’s current price.

A number of other brokerages have also weighed in on HOOD. Keefe, Bruyette & Woods upped their target price on shares of Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. The Goldman Sachs Group upgraded shares of Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $40.00 to $46.00 in a report on Friday, December 6th. Morgan Stanley upgraded shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $24.00 to $55.00 in a report on Monday, November 25th. Barclays raised shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $26.00 to $49.00 in a research report on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $42.13.

Robinhood Markets Price Performance

HOOD traded down $0.96 during mid-day trading on Friday, hitting $39.85. The stock had a trading volume of 9,665,048 shares, compared to its average volume of 17,038,902. Robinhood Markets has a 1-year low of $10.38 and a 1-year high of $43.83. The firm has a market capitalization of $35.23 billion, a price-to-earnings ratio of 67.54, a price-to-earnings-growth ratio of 0.81 and a beta of 2.07. The stock’s fifty day simple moving average is $36.67 and its 200-day simple moving average is $27.29.

Robinhood Markets (NASDAQ:HOOD) last released 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 business had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The company’s revenue for the quarter was up 36.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.09) EPS. As a group, research analysts expect that Robinhood Markets will post 0.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $24.21, for a total transaction of $6,052,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Baiju Bhatt sold 98,404 shares of Robinhood Markets stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $26.40, for a total transaction of $2,597,865.60. Following the completion of the sale, the director now owns 2,521 shares of the company’s stock, 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 90 days, insiders sold 3,708,196 shares of company stock valued at $138,845,043. Company insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

A number of hedge funds have recently added to or reduced their stakes in the stock. HM Payson & Co. grew its holdings in shares of 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 purchasing an additional 410 shares in the last quarter. True Wealth Design LLC acquired a new stake in Robinhood Markets during the third quarter worth about $30,000. Eastern Bank acquired a new stake in Robinhood Markets during the third quarter worth about $30,000. ORG Wealth Partners LLC bought a new position in Robinhood Markets in the 3rd quarter valued at about $33,000. Finally, Connective Portfolio Management LLC acquired a new position in shares of Robinhood Markets in the 3rd quarter valued at approximately $47,000. Institutional investors own 93.27% of the company’s stock.

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.