Robinhood Markets, Inc. (NASDAQ:HOOD) Stock Has Average Target Price of $126.45

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) have earned an average rating of “Moderate Buy” from the thirty-five research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $124.01.

HOOD has been the subject of several analyst reports. Wells Fargo & Company dropped their price target on shares of Robinhood Markets from $120.00 to $100.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 28th. Loop Capital set a $135.00 price objective on shares of Robinhood Markets in a research note on Tuesday, September 29th. Scotiabank decreased their price objective on Robinhood Markets from $136.00 to $124.00 and set a “sector outperform” rating for the company in a report on Wednesday, October 28th. Deutsche Bank lowered their target price on Robinhood Markets from $138.00 to $134.00 and set a “buy” rating for the company in a research report on Tuesday, September 29th. Finally, Compass Point increased their target price on shares of Robinhood Markets from $126.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, October 2nd.

Robinhood Markets News Roundup

Here’s some of the latest news about HOOD:

• Positive Sentiment: Margin balances climbed 39% to $23 billion in October, potentially supporting recurring interest income. Funded customers also increased by about 130,000 month over month to 28.9 million, while net deposits reached $15.1 billion. Article: Robinhood’s Margin Balances Reach $23B
• Neutral Sentiment: Goldman Sachs lowered its price target to $115 from $128 but maintained a Buy rating, signaling continued optimism despite a more cautious valuation outlook. Article: Goldman Sachs on Robinhood
• Negative Sentiment: Louisiana’s attorney general has also sued Robinhood and other firms over prediction markets, creating potential regulatory risk for a product line that has recently been a growth bright spot. Article: Louisiana AG Sues Over Prediction Markets

Robinhood Markets Trading Down 4.3%

Shares of Robinhood Markets stock traded down $3.49 on Thursday, hitting $77.86. The stock had a trading volume of 18,661,581 shares, compared to its average volume of 19,199,100. The stock has a 50 day moving average of $103.25 and a 200 day moving average of $91.68. Robinhood Markets has a twelve month low of $63.51 and a twelve month high of $139.75. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market capitalization of $70.11 billion, a P/E ratio of 35.88, a PEG ratio of 1.81 and a beta of 2.56.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, October 28th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.56 by $0.04. Robinhood Markets had a net margin of 39.04% and a return on equity of 21.49%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period last year, the company earned $0.61 EPS. The firm’s revenue was up 11.5% compared to the same quarter last year. Sell-side analysts expect that Robinhood Markets will post 2.10 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Daniel Gallagher, Jr. sold 10,000 shares of the stock in a transaction on Monday, October 5th. The shares were sold at an average price of $113.71, for a total transaction of $1,137,100.00. Following the transaction, the insider directly owned 499,943 shares of the company’s stock, valued at $56,848,518.53. This represents a 1.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Vladimir Tenev sold 375,000 shares of the firm’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $113.72, for a total value of $42,645,000.00. Following the completion of the sale, the chief executive officer directly owned 375,000 shares of the company’s stock, valued at $42,645,000. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 1,045,503 shares of company stock worth $123,905,130. Company insiders own 13.48% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Several large investors have recently added to or reduced their stakes in the business. State Street Corp raised its stake in shares of Robinhood Markets by 0.6% in the third quarter. State Street Corp now owns 34,865,341 shares of the company’s stock worth $3,922,351,000 after purchasing an additional 194,193 shares during the last quarter. Amundi grew its holdings in Robinhood Markets by 89.0% during the first quarter. Amundi now owns 6,385,232 shares of the company’s stock worth $442,497,000 after buying an additional 3,007,103 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Robinhood Markets in the 2nd quarter valued at $379,695,000. Amova Asset Management Americas Inc. raised its position in Robinhood Markets by 15.0% in the 1st quarter. Amova Asset Management Americas Inc. now owns 5,240,796 shares of the company’s stock valued at $362,925,000 after buying an additional 685,041 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Robinhood Markets by 48.6% during the 1st quarter. Renaissance Technologies LLC now owns 5,104,137 shares of the company’s stock valued at $353,717,000 after acquiring an additional 1,668,400 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

About Robinhood Markets

Robinhood Markets, Inc. operates a digital financial services platform that gives customers access to investing and financial products through its website and mobile app. Its offerings include trading in stocks, exchange-traded funds, options and cryptocurrencies, as well as retirement accounts and cash-management services. Founded in 2013 by Vlad Tenev and Baiju Bhatt, Robinhood built its business around making financial services more accessible through a mobile-first platform. The company is headquartered in Menlo Park, California, and serves customers in the United States and select international markets.