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

Robinhood Markets (NASDAQ:HOOD) had its price target increased by research analysts at Barclays from $49.00 to $54.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 29.31% from the stock’s current price.

HOOD has been the subject of several other research reports. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, December 9th. The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $40.00 to $46.00 in a research note on Friday, December 6th. Keefe, Bruyette & Woods raised their price objective on Robinhood Markets from $24.00 to $38.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Sanford C. Bernstein boosted their target price on Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. upgraded Robinhood Markets from an “underweight” rating to a “neutral” rating and raised their price target for the company from $20.00 to $43.00 in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.47.

Robinhood Markets Stock Performance

HOOD stock opened at $41.76 on Monday. Robinhood Markets has a one year low of $10.38 and a one year high of $43.83. The company has a fifty day moving average of $37.63 and a 200-day moving average of $27.75. The stock has a market capitalization of $36.91 billion, a PE ratio of 70.78, a price-to-earnings-growth ratio of 0.81 and a beta of 2.07.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The business had revenue of $637.00 million during the quarter, compared to analysts’ expectations of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. Robinhood Markets’s revenue for the quarter was up 36.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.09) EPS. Equities analysts forecast that Robinhood Markets will post 0.8 earnings per share for the current fiscal year.

Insider Transactions at Robinhood Markets

In related news, Director Meyer Malka sold 1,535,681 shares of the stock in a transaction 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 transaction, the director now directly owns 4,974,238 shares of the company’s stock, valued at approximately $199,516,686.18. This trade represents a 23.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Baiju Bhatt sold 98,404 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 2,521 shares of the company’s stock, valued at approximately $66,554.40. This trade represents a 97.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,708,196 shares of company stock worth $138,845,043 over the last quarter. 19.95% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. HM Payson & Co. lifted its position in shares of Robinhood Markets by 53.5% during the third 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 purchased a new stake in shares of Robinhood Markets during the third quarter worth about $30,000. Eastern Bank acquired a new position in shares of Robinhood Markets in the third quarter worth about $30,000. ORG Wealth Partners LLC purchased a new position in Robinhood Markets in the third quarter valued at about $33,000. Finally, Connective Portfolio Management LLC acquired a new stake in Robinhood Markets during the 3rd quarter valued at approximately $47,000. Institutional investors and hedge funds 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.