Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $165.00

Robinhood Markets (NASDAQ:HOOD) had its target price upped by Citizens Jmp from $155.00 to $165.00 in a research report released on Friday morning,Benzinga reports. Citizens Jmp currently has a market outperform rating on the stock.

Several other brokerages also recently commented on HOOD. Piper Sandler reissued an “overweight” rating and issued a $145.00 price objective (up from $135.00) on shares of Robinhood Markets in a research note on Wednesday, September 2nd. KeyCorp lifted their target price on Robinhood Markets from $100.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, July 22nd. Loop Capital set a $142.00 price target on Robinhood Markets in a report on Tuesday, September 8th. Barclays lowered their price target on Robinhood Markets from $122.00 to $105.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. Finally, Morgan Stanley upgraded Robinhood Markets from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $124.00 to $150.00 in a research note on Tuesday, September 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and an average target price of $129.83.

Robinhood Markets Price Performance

Shares of NASDAQ HOOD opened at $112.57 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.22 and a quick ratio of 1.22. The company has a 50-day moving average price of $103.62 and a 200-day moving average price of $89.80. The stock has a market capitalization of $101.21 billion, a P/E ratio of 49.59, a P/E/G ratio of 2.30 and a beta of 2.34. Robinhood Markets has a 1 year low of $63.51 and a 1 year high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, July 29th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.18. Robinhood Markets had a net margin of 42.01% and a return on equity of 22.43%. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the business posted $0.42 EPS. The firm’s revenue was up 32.5% compared to the same quarter last year. On average, equities research analysts forecast that Robinhood Markets will post 2.11 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In related news, insider Steven M. Quirk sold 24,416 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was 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 directly owned 77,839 shares of the company’s stock, valued at approximately $9,366,366.87. This trade represents a 23.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Vladimir Tenev sold 375,000 shares of Robinhood Markets stock in a transaction on Monday, July 6th. The stock was sold at an average price of $116.17, for a total value of $43,563,750.00. Following the sale, the chief executive officer owned 375,000 shares in the company, valued at $43,563,750. This trade represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 566,276 shares of company stock worth $63,721,282. 13.48% of the stock is owned by insiders.

Institutional Investors Weigh In On Robinhood Markets

Several large investors have recently made changes to their positions in HOOD. Empowered Funds LLC grew its position in Robinhood Markets by 46.7% during the first quarter. Empowered Funds LLC now owns 49,870 shares of the company’s stock valued at $2,076,000 after buying an additional 15,885 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in Robinhood Markets in the second quarter worth about $5,105,000. Federated Hermes Inc. raised its position in Robinhood Markets by 106.2% in the second quarter. Federated Hermes Inc. now owns 63,957 shares of the company’s stock worth $5,988,000 after acquiring an additional 32,933 shares during the period. NewEdge Advisors LLC boosted its stake in Robinhood Markets by 19.1% in the second quarter. NewEdge Advisors LLC now owns 89,676 shares of the company’s stock valued at $8,396,000 after acquiring an additional 14,356 shares during the last quarter. Finally, Nebula Research & Development LLC purchased a new position in Robinhood Markets in the second quarter valued at about $1,316,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Key Robinhood Markets News

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

• Positive Sentiment: Strong August activity and event-contract growth: Robinhood reported 28.6 million customers and broadly positive August operating metrics. Separately, event-contract activity reportedly increased 15-fold year over year, supporting the company’s diversification beyond traditional brokerage revenue. Robinhood August operating data Robinhood event contracts growth
• Positive Sentiment: New revenue opportunities: Citizens JMP raised its price target to $165 from $155 and maintained a Market Outperform rating. Citizens also projected Robinhood Chain could generate $365 million in revenue by 2027. Robinhood’s underwriting role in the Oura IPO could provide investment-banking fee revenue and create opportunities to participate in larger IPOs. Citizens Robinhood Chain projection Robinhood investment banking ambitions
• Neutral Sentiment: Expansion through partnerships: Robinhood is expanding prediction-market access through arrangements involving Crypto.com and OG.com, although the ultimate financial contribution remains uncertain.
• Negative Sentiment: Regulatory and legal concerns: Robinhood plans to stop offering sports prediction markets in Michigan amid litigation. A broader legal update highlights rapidly changing rules across several states, creating uncertainty around the company’s prediction-market growth strategy. Robinhood Michigan prediction markets lawsuit Prediction markets legal update
• Negative Sentiment: Tokenization faces scrutiny: Objections from securities issuers and unresolved regulatory questions could raise compliance costs and slow Robinhood’s international rollout of tokenized stocks. Robinhood tokenized-stock scrutiny
• Negative Sentiment: Insider sale: Director Oluwadara Treseder sold 1,875 shares for approximately $234,375 under a pre-arranged Rule 10b5-1 plan. The sale was small relative to her remaining stake but may add modest caution.

Robinhood Markets Company Profile

Robinhood Markets, Inc is a financial services company that operates a digital investing and trading platform. Through its mobile app and website, the company provides access to U.S. stocks, exchange-traded funds, options, cryptocurrencies and other investment products. Robinhood also offers individual retirement accounts, margin investing and cash-management services, subject to applicable eligibility requirements and regulations.

The company generates revenue from sources that include interest earned on customer cash and margin balances, transaction-based revenue related to options and cryptocurrency trading, subscription fees for Robinhood Gold and other service-related activities.