Robinhood Markets (NASDAQ:HOOD) Stock Price Target Lowered at Cantor Fitzgerald

Robinhood Markets (NASDAQ:HOOD) had its target price reduced by analysts at Cantor Fitzgerald from $150.00 to $120.00 in a report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Cantor Fitzgerald‘s price objective suggests a potential upside of 41.19% from the stock’s current price.

A number of other research analysts also recently issued reports on HOOD. Rosenblatt Securities reaffirmed a “buy” rating and set a $135.00 price target on shares of Robinhood Markets in a report on Wednesday, October 28th. Jefferies Financial Group upped their target price on shares of Robinhood Markets from $127.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, September 8th. Scotiabank decreased their target price on shares of Robinhood Markets from $136.00 to $124.00 and set a “sector outperform” rating for the company in a research note on Wednesday, October 28th. Mizuho lifted their price objective on Robinhood Markets from $130.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, September 9th. Finally, Piper Sandler reissued an “overweight” rating and issued a $145.00 target price (up from $135.00) on shares of Robinhood Markets in a research report on Wednesday, September 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Robinhood Markets presently has a consensus rating of “Moderate Buy” and an average target price of $126.45.

Robinhood Markets Price Performance

Shares of HOOD opened at $84.99 on Friday. The firm has a market cap of $76.41 billion, a P/E ratio of 39.17, a P/E/G ratio of 1.78 and a beta of 2.57. Robinhood Markets has a 1 year low of $63.51 and a 1 year high of $150.47. The stock has a 50 day simple moving average of $108.49 and a two-hundred day simple moving average of $93.04. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.24 and a quick ratio of 1.24.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Tuesday, October 27th. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. Robinhood Markets had a net margin of 39.04% and a return on equity of 21.49%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the business posted $0.61 earnings per share. Robinhood Markets’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, analysts forecast that Robinhood Markets will post 2.18 earnings per share for the current fiscal year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, insider Daniel Gallagher, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $113.71, for a total transaction of $1,137,100.00. Following the completion of the transaction, the insider owned 499,943 shares in the company, valued at $56,848,518.53. The trade was a 1.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Vladimir Tenev sold 375,000 shares of the business’s stock in a transaction on Monday, October 5th. The shares were sold at an average price of $113.72, for a total transaction of $42,645,000.00. Following the sale, the chief executive officer directly owned 375,000 shares of the company’s stock, valued at $42,645,000. This 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. In the last ninety days, insiders have sold 1,081,347 shares of company stock worth $127,543,680. 13.48% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caldwell Trust Co boosted its holdings in shares of Robinhood Markets by 56.4% during the 3rd quarter. Caldwell Trust Co now owns 4,279 shares of the company’s stock worth $481,000 after purchasing an additional 1,543 shares during the last quarter. 3Chopt Investment Partners LLC acquired a new stake in shares of Robinhood Markets in the 3rd quarter worth $218,000. Compass Financial Management LLC grew its holdings in shares of Robinhood Markets by 36.3% in the third quarter. Compass Financial Management LLC now owns 1,834 shares of the company’s stock valued at $206,000 after purchasing an additional 488 shares during the period. Rakuten Investment Management Inc. raised its stake in Robinhood Markets by 9.7% during the third quarter. Rakuten Investment Management Inc. now owns 139,373 shares of the company’s stock worth $16,198,000 after purchasing an additional 12,304 shares during the period. Finally, Provenance Wealth Advisors LLC acquired a new position in Robinhood Markets in the third quarter valued at approximately $77,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Company Profile

Robinhood Markets, Inc is a financial services company that operates a digital brokerage platform. Founded in 2013 by Vlad Tenev and Baiju Bhatt, the company became known for offering commission-free trading and a mobile-first investing experience designed to broaden access to financial markets.

Through its platform, Robinhood provides brokerage services for stocks, exchange-traded funds, options and other investments. Its offerings also include cryptocurrency trading, individual retirement accounts, margin investing, cash management services and Robinhood Gold, a subscription-based product that provides additional features and benefits.