Robinhood Markets (NASDAQ:HOOD) Given New $155.00 Price Target at Cantor Fitzgerald

Robinhood Markets (NASDAQ:HOOD) had its price target hoisted by investment analysts at Cantor Fitzgerald from $130.00 to $155.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 17.43% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Citizens Jmp raised their price objective on Robinhood Markets from $130.00 to $170.00 and gave the stock a “mkt outperform” rating in a report on Thursday, October 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Robinhood Markets in a research note on Wednesday, October 8th. Citigroup lifted their price target on Robinhood Markets from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Bank of America increased their price objective on shares of Robinhood Markets from $139.00 to $157.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Finally, CICC Research began coverage on shares of Robinhood Markets in a report on Monday, October 27th. They issued an “outperform” rating and a $155.00 target price for the company. Thirteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Robinhood Markets currently has a consensus rating of “Moderate Buy” and an average price target of $132.15.

Robinhood Markets Trading Down 7.4%

Shares of NASDAQ:HOOD traded down $10.49 on Thursday, hitting $131.99. The company had a trading volume of 8,851,022 shares, compared to its average volume of 40,170,637. The company has a market cap of $117.29 billion, a PE ratio of 67.00, a PEG ratio of 3.55 and a beta of 2.42. Robinhood Markets has a 52-week low of $28.67 and a 52-week high of $153.86. The business has a 50 day moving average of $129.11 and a 200 day moving average of $98.72.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.20. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.15 billion. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The firm’s revenue for the quarter was up 100.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.17 EPS. As a group, equities analysts predict that Robinhood Markets will post 1.35 EPS for the current year.

Insider Activity at Robinhood Markets

In other news, Director Baiju Bhatt sold 418,338 shares of the company’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $119.42, for a total value of $49,957,923.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm’s stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $148.34, for a total value of $3,708,500.00. Following the sale, the insider owned 565,949 shares in the company, valued at approximately $83,952,874.66. The trade was a 4.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,337,392 shares of company stock valued at $397,124,959 over the last 90 days. Corporate insiders own 14.47% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HOOD. Principal Financial Group Inc. lifted its holdings in Robinhood Markets by 124.0% in the 1st quarter. Principal Financial Group Inc. now owns 261,457 shares of the company’s stock worth $10,882,000 after buying an additional 144,725 shares in the last quarter. OneDigital Investment Advisors LLC acquired a new stake in Robinhood Markets during the 1st quarter valued at approximately $408,000. Concurrent Investment Advisors LLC raised its position in shares of Robinhood Markets by 181.6% in the 1st quarter. Concurrent Investment Advisors LLC now owns 20,162 shares of the company’s stock valued at $839,000 after purchasing an additional 13,002 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Robinhood Markets by 30.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 328,511 shares of the company’s stock valued at $13,673,000 after buying an additional 75,745 shares during the last quarter. Finally, TD Private Client Wealth LLC increased its stake in shares of Robinhood Markets by 184.4% in the first quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company’s stock worth $76,000 after buying an additional 1,186 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

About Robinhood Markets

Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. The company offers fractional trading, recurring investments, fully-paid securities lending, access to investing on margin, cash sweep, instant withdrawals, retirement program, around-the-clock trading, and initial public offerings participation services.