Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $137.00

Robinhood Markets (NASDAQ:HOOD) had its price target hoisted by The Goldman Sachs Group from $121.00 to $137.00 in a research note issued to investors on Thursday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other research firms have also weighed in on HOOD. KeyCorp reiterated an “overweight” rating and set a $100.00 price objective on shares of Robinhood Markets in a research note on Monday, June 1st. Citigroup reaffirmed a “market outperform” rating on shares of Robinhood Markets in a report on Thursday, May 28th. Piper Sandler reiterated an “overweight” rating on shares of Robinhood Markets in a research report on Thursday, July 2nd. Argus increased their price target on Robinhood Markets from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. Finally, Mizuho boosted their price objective on Robinhood Markets from $115.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, July 2nd. Twenty-one equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.70.

Robinhood Markets Trading Down 5.7%

Shares of NASDAQ HOOD opened at $99.96 on Thursday. Robinhood Markets has a twelve month low of $63.51 and a twelve month high of $153.86. The company has a market capitalization of $90.01 billion, a price-to-earnings ratio of 48.29, a price-to-earnings-growth ratio of 2.11 and a beta of 2.33. The business has a 50 day simple moving average of $94.26 and a 200-day simple moving average of $89.09.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.01). Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the company posted $0.37 earnings per share. The business’s revenue was up 15.1% on a year-over-year basis. As a group, equities analysts predict that Robinhood Markets will post 1.86 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $83.68, for a total value of $836,800.00. Following the completion of the sale, the insider owned 481,396 shares of the company’s stock, valued at $40,283,217.28. This represents a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven M. Quirk sold 19,377 shares of the stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $119.96, for a total transaction of $2,324,464.92. Following the completion of the transaction, the insider owned 62,612 shares of the company’s stock, valued at $7,510,935.52. This represents a 23.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have purchased 680,000 shares of company stock valued at $55,306,560 and have sold 587,875 shares valued at $62,602,915. 13.48% of the stock is owned by company insiders.

Institutional Trading of Robinhood Markets

A number of institutional investors have recently made changes to their positions in HOOD. Whitener Capital Management Inc. acquired a new position in shares of Robinhood Markets during the second quarter valued at approximately $267,000. Tema ETFs LLC raised its holdings in Robinhood Markets by 9.8% during the second quarter. Tema ETFs LLC now owns 14,568 shares of the company’s stock worth $1,461,000 after purchasing an additional 1,305 shares in the last quarter. Canvas Wealth Advisors LLC lifted its position in Robinhood Markets by 4.6% in the second quarter. Canvas Wealth Advisors LLC now owns 42,697 shares of the company’s stock worth $4,282,000 after purchasing an additional 1,888 shares during the period. Arkfeld Wealth Strategies L.L.C. lifted its position in Robinhood Markets by 12.0% in the second quarter. Arkfeld Wealth Strategies L.L.C. now owns 17,856 shares of the company’s stock worth $1,791,000 after purchasing an additional 1,912 shares during the period. Finally, E. Ohman J or Asset Management AB boosted its stake in Robinhood Markets by 52.1% during the 2nd quarter. E. Ohman J or Asset Management AB now owns 27,727 shares of the company’s stock valued at $2,780,000 after purchasing an additional 9,500 shares in the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets News Roundup

Here are the key news stories impacting Robinhood Markets this week:

• Positive Sentiment: Goldman Sachs raised its price target on Robinhood to $137 from $121 and reiterated a Buy rating ahead of earnings, signaling confidence in the company’s growth potential and implying meaningful upside from current levels. Goldman Sachs raises price target on Robinhood ahead of earnings
• Neutral Sentiment: Robinhood is drawing heavy investor attention online, with Zacks noting that the stock has become a trending name; this reflects interest rather than a direct fundamental catalyst. Robinhood Markets, Inc. (HOOD) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Robinhood recently benefited from a broad market upswing and has continued to trade well above its 50-day and 200-day moving averages, but that momentum has been offset by a more volatile tape in recent sessions. Robinhood Markets, Inc. (HOOD) Beats Stock Market Upswing: What Investors Need to Know
• Negative Sentiment: Brokerage stocks, including Robinhood, were hit by a Nasdaq-100 selloff and a decline in crypto prices, both of which can reduce trading activity and weigh on revenue expectations. Robinhood Drops 4%, Webull Tumbles 6% as NASDAQ 100 Selloff and Crypto Dip Hit Retail-Brokerage Stocks
• Negative Sentiment: Reports that Robinhood is selling $400 million of credit-card asset-backed bonds added to investor caution, likely feeding concerns about financing activity and broader market stress. Why Is Robinhood Stock Falling on Friday?

About Robinhood Markets

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.