Robinhood Markets (NASDAQ:HOOD) Upgraded at Zacks Research

Robinhood Markets (NASDAQ:HOOD) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Thursday, Zacks reports.

A number of other research analysts have also weighed in on the stock. Loop Capital set a $105.00 price target on shares of Robinhood Markets in a research report on Thursday, July 30th. Mizuho increased their price objective on shares of Robinhood Markets from $115.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, July 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Robinhood Markets in a research report on Wednesday, June 24th. Needham & Company LLC cut their target price on Robinhood Markets from $123.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and issued a $155.00 target price on shares of Robinhood Markets in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Robinhood Markets has a consensus rating of “Moderate Buy” and a consensus target price of $122.67.

Robinhood Markets Trading Down 2.1%

Shares of Robinhood Markets stock opened at $122.11 on Thursday. The stock has a fifty day simple moving average of $102.73 and a 200 day simple moving average of $88.26. Robinhood Markets has a 12-month low of $63.51 and a 12-month high of $153.86. The company has a market capitalization of $109.79 billion, a P/E ratio of 53.79, a price-to-earnings-growth ratio of 2.56 and a beta of 2.34. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.23.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.18. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Robinhood Markets had a return on equity of 22.43% and a net margin of 42.01%.The business’s revenue was up 32.5% on a year-over-year basis. During the same period last year, the business earned $0.42 EPS. On average, sell-side analysts anticipate that Robinhood Markets will post 2.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In related news, insider Steven Quirk sold 24,416 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $120.33, for a total transaction of $2,937,977.28. Following the completion of the sale, the insider owned 77,839 shares in the company, valued at approximately $9,366,366.87. This trade represents a 23.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Shiv Verma sold 3,982 shares of Robinhood Markets stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $95.07, for a total transaction of $378,568.74. Following the completion of the sale, the chief financial officer directly owned 51,963 shares in the company, valued at approximately $4,940,122.41. This represents a 7.12% 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. Insiders have sold a total of 626,283 shares of company stock valued at $69,070,083 in the last three months. 13.48% of the stock is owned by corporate insiders.

Institutional Trading of Robinhood Markets

A number of large investors have recently bought and sold shares of the company. CYBER HORNET ETFs LLC grew its stake in shares of Robinhood Markets by 527.8% during the 4th quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company’s stock worth $26,000 after acquiring an additional 190 shares during the period. Elyxium Wealth LLC purchased a new stake in Robinhood Markets in the 4th quarter worth about $27,000. MV Capital Management Inc. bought a new stake in Robinhood Markets in the 4th quarter valued at about $27,000. C M Bidwell & Associates Ltd. bought a new stake in Robinhood Markets in the 2nd quarter valued at about $27,000. Finally, Swiss RE Ltd. purchased a new stake in Robinhood Markets during the fourth quarter valued at about $27,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

More Robinhood Markets News

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

• Positive Sentiment: Analyst sentiment remains supportive. Scotiabank initiated coverage with a bullish view, while Piper Sandler raised its price target to $145 and expects football-related event contracts to increase activity. Robinhood generated $156 million from event contracts in the second quarter. Robinhood Stock Jumps After Wave of Analysts Upgrade
• Positive Sentiment: Robinhood Chain and crypto activity are emerging growth drivers. The new blockchain reportedly generated about $3.8 million in fees on September 1, while the company now has 13 business lines with more than $100 million in annualized revenue. Deutsche Bank also sees potential upside from Robinhood’s latest crypto initiatives. Robinhood Now Runs 13 Revenue Lines Above $100 Million a Year
• Positive Sentiment: CEO Vlad Tenev said Robinhood’s newly launched Trust Accounts have attracted more than $150 million since August, suggesting early customer demand for the offering. Robinhood Trust Accounts Now Have Over $150 Million

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.