Robinhood Markets (NASDAQ:HOOD) Stock Price Expected to Rise, BTIG Research Analyst Says

Robinhood Markets (NASDAQ:HOOD) had its price objective increased by investment analysts at BTIG Research from $125.00 to $135.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s target price would indicate a potential upside of 15.92% from the stock’s previous close.

Several other brokerages also recently commented on HOOD. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Robinhood Markets from $136.00 to $138.00 and gave the company a “buy” rating in a research report on Monday, September 14th. Mizuho upped their target price on shares of Robinhood Markets from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 9th. Zacks Research upgraded shares of Robinhood Markets from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Robinhood Markets in a research report on Monday, September 21st. Finally, Jefferies Financial Group boosted their price objective on shares of Robinhood Markets from $127.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, September 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $133.00.

Robinhood Markets Trading Down 2.5%

Robinhood Markets stock opened at $116.46 on Tuesday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.23. The business’s fifty day simple moving average is $105.03 and its two-hundred day simple moving average is $92.80. 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 $104.71 billion, a price-to-earnings ratio of 51.30, a price-to-earnings-growth ratio of 2.38 and a beta of 2.34.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results 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 firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. Robinhood Markets had a return on equity of 22.43% and a net margin of 42.01%.The company’s revenue was up 32.5% on a year-over-year basis. During the same period last year, the company earned $0.42 earnings per share. As a group, equities analysts predict that Robinhood Markets will post 2.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Robinhood Markets news, insider Daniel Gallagher, Jr. sold 10,000 shares of the business’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $122.43, for a total transaction of $1,224,300.00. Following the completion of the sale, the insider directly owned 509,943 shares in the company, valued at approximately $62,432,321.49. The trade was a 1.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Oluwadara Treseder sold 1,875 shares of the stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $125.00, for a total value of $234,375.00. Following the transaction, the director directly owned 70,567 shares in the company, valued at $8,820,875. The trade was a 2.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,121,121 shares of company stock worth $132,674,478 in the last 90 days. Insiders own 13.48% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of HOOD. MV Capital Management Inc. purchased a new stake in shares of Robinhood Markets during the 4th quarter valued at about $27,000. C M Bidwell & Associates Ltd. purchased a new position in shares of Robinhood Markets in the second quarter worth approximately $27,000. SHP Wealth Management bought a new stake in Robinhood Markets during the fourth quarter valued at approximately $32,000. Glen Eagle Advisors LLC grew its position in Robinhood Markets by 812.9% during the fourth quarter. Glen Eagle Advisors LLC now owns 283 shares of the company’s stock valued at $32,000 after buying an additional 252 shares during the period. Finally, Copos Capital S.a r.l. purchased a new stake in Robinhood Markets during the fourth quarter valued at approximately $33,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

About Robinhood Markets

Robinhood Markets, Inc (NASDAQ: HOOD) operates a financial services platform designed to provide investing and trading products through mobile applications and a website. Its offerings include commission-free trading in stocks and exchange-traded funds, options trading, cryptocurrency services, margin investing, and retirement accounts. The company also provides cash management features and other tools intended to help customers manage and invest their money.

Founded in 2013 by Vlad Tenev and Baiju Bhatt, Robinhood gained prominence by expanding access to investing through a low-cost, easy-to-use digital platform.