Barclays Raises Robinhood Markets (NASDAQ:HOOD) Price Target to $168.00

Robinhood Markets (NASDAQ:HOOD) had its price target lifted by investment analysts at Barclays from $162.00 to $168.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 27.28% from the company’s previous close.

A number of other analysts have also recently commented on the stock. Loop Capital set a $161.00 price target on shares of Robinhood Markets in a research report on Monday, October 27th. Citizens Jmp upped their target price on Robinhood Markets from $130.00 to $170.00 and gave the company a “mkt outperform” rating in a research report on Thursday, October 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Robinhood Markets in a research note on Wednesday, October 8th. CICC Research assumed coverage on Robinhood Markets in a research note on Monday, October 27th. They issued an “outperform” rating and a $155.00 price target on the stock. Finally, Needham & Company LLC raised their price objective on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Thirteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.15.

Robinhood Markets Trading Down 7.4%

HOOD stock traded down $10.49 during trading on Thursday, hitting $131.99. The company had a trading volume of 8,851,022 shares, compared to its average volume of 40,170,637. The stock has a market cap of $117.29 billion, a PE ratio of 67.00, a PEG ratio of 3.55 and a beta of 2.42. The business has a 50-day moving average of $129.11 and a 200-day moving average of $98.72. Robinhood Markets has a one year low of $28.67 and a one year high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.20. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the company earned $0.17 EPS. The company’s revenue for the quarter was up 100.0% on a year-over-year basis. Research analysts forecast that Robinhood Markets will post 1.35 EPS for the current year.

Insider Buying and Selling

In other Robinhood Markets news, Director Baiju Bhatt sold 418,338 shares of the firm’s stock in a transaction on Tuesday, October 21st. The stock was sold at an average price of $133.11, for a total transaction of $55,684,971.18. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $145.95, for a total transaction of $3,648,750.00. Following the completion of the sale, the insider owned 540,949 shares of the company’s stock, valued at approximately $78,951,506.55. The trade was a 4.42% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 3,337,392 shares of company stock valued at $397,124,959. 14.47% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Robinhood Markets

A number of hedge funds and other institutional investors have recently modified their holdings of the business. WCM Investment Management LLC lifted its holdings in Robinhood Markets by 3,615.7% during the second quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock worth $1,081,910,000 after acquiring an additional 11,244,182 shares during the period. Norges Bank bought a new stake in shares of Robinhood Markets during the 2nd quarter worth $973,122,000. Kingstone Capital Partners Texas LLC purchased a new position in shares of Robinhood Markets in the 2nd quarter worth about $951,479,000. Vanguard Group Inc. grew its position in Robinhood Markets by 8.6% during the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company’s stock valued at $3,089,914,000 after buying an additional 5,874,701 shares during the period. Finally, AGF Management Ltd. raised its holdings in shares of Robinhood Markets by 286.0% in the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company’s stock worth $239,053,000 after purchasing an additional 4,255,862 shares during the period. Hedge funds and other 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.