Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $76.00

Robinhood Markets (NASDAQ:HOOD) had its price target lifted by Barclays from $54.00 to $76.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research firms have also recently weighed in on HOOD. Mizuho lifted their price objective on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their price target for the company from $40.00 to $46.00 in a report on Friday, December 6th. Needham & Company LLC increased their price objective on Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday. Sanford C. Bernstein lifted their target price on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.07.

Robinhood Markets Stock Up 2.3 %

Shares of Robinhood Markets stock opened at $65.28 on Thursday. Robinhood Markets has a 12-month low of $13.04 and a 12-month high of $66.91. The firm has a market capitalization of $57.71 billion, a PE ratio of 110.65, a price-to-earnings-growth ratio of 0.73 and a beta of 2.13. The stock’s fifty day moving average is $45.45 and its 200-day moving average is $32.52.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. Analysts expect that Robinhood Markets will post 0.97 EPS for the current year.

Insider Activity

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total transaction of $29,370,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Baiju Bhatt sold 90,866 shares of the business’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $55.34, for a total transaction of $5,028,524.44. Following the completion of the sale, the director now owns 5,042 shares of the company’s stock, valued at $279,024.28. The trade was a 94.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,948,427 shares of company stock valued at $165,005,244. Insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Large investors have recently made changes to their positions in the business. Toronto Dominion Bank boosted its position in shares of Robinhood Markets by 31.1% in the third quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock valued at $1,602,000 after acquiring an additional 16,219 shares during the period. Everence Capital Management Inc. acquired a new position in Robinhood Markets during the 4th quarter valued at $634,000. Atomi Financial Group Inc. boosted its holdings in Robinhood Markets by 20.7% in the 4th quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock valued at $20,154,000 after purchasing an additional 92,613 shares during the period. Requisite Capital Management LLC acquired a new stake in Robinhood Markets in the 4th quarter worth $266,000. Finally, Baker Avenue Asset Management LP increased its holdings in shares of Robinhood Markets by 77.9% during the 3rd quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock worth $10,874,000 after purchasing an additional 203,354 shares during the period. Institutional investors and hedge funds 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.