Robinhood Markets (NASDAQ:HOOD) Stock Rating Upgraded by Truist Financial

Robinhood Markets (NASDAQ:HOOD) was upgraded by research analysts at Truist Financial to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

HOOD has been the topic of a number of other research reports. The Goldman Sachs Group boosted their target price on Robinhood Markets from $134.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, September 30th. Compass Point reissued a “buy” rating on shares of Robinhood Markets in a research note on Monday, October 27th. Bank of America cut their price objective on shares of Robinhood Markets from $166.00 to $154.00 and set a “buy” rating on the stock in a research report on Wednesday, December 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Robinhood Markets in a research report on Monday, December 8th. Finally, Citizens Jmp upped their price target on Robinhood Markets from $170.00 to $180.00 and gave the stock a “market outperform” rating in a research note on Friday, November 7th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $137.25.

Robinhood Markets Stock Performance

Robinhood Markets stock opened at $123.08 on Tuesday. Robinhood Markets has a twelve month low of $29.66 and a twelve month high of $153.86. The firm has a market cap of $110.68 billion, a PE ratio of 51.26, a P/E/G ratio of 2.40 and a beta of 2.43. The firm’s 50 day moving average price is $130.25 and its two-hundred day moving average price is $113.14.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.20. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the business posted $0.17 EPS. The company’s revenue for the quarter was up 100.0% on a year-over-year basis. Equities analysts anticipate that Robinhood Markets will post 1.35 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Baiju Bhatt sold 1,330,000 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $128.47, for a total transaction of $170,865,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total value of $104,797,500.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,686,763 shares of company stock worth $475,858,262 over the last quarter. 14.47% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently bought and sold shares of the stock. Valley National Advisers Inc. grew its position in Robinhood Markets by 113.6% in the 3rd quarter. Valley National Advisers Inc. now owns 188 shares of the company’s stock worth $26,000 after purchasing an additional 100 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in shares of Robinhood Markets by 107.6% in the third quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock valued at $27,000 after buying an additional 99 shares during the period. Vision Financial Markets LLC grew its position in Robinhood Markets by 100.0% during the third quarter. Vision Financial Markets LLC now owns 200 shares of the company’s stock worth $29,000 after buying an additional 100 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new position in Robinhood Markets during the third quarter valued at about $29,000. Finally, Guerra Advisors Inc acquired a new position in Robinhood Markets in the 3rd quarter valued at approximately $30,000. 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.