Robinhood Markets (NASDAQ:HOOD) Stock Rating Upgraded by Citigroup

Citigroup upgraded shares of Robinhood Markets (NASDAQ:HOOD) from a sell rating to a neutral rating in a research note published on Monday, MarketBeat reports. The firm currently has $18.00 price target on the stock.

Several other analysts have also issued reports on the company. KeyCorp boosted their price target on Robinhood Markets from $23.00 to $25.00 and gave the company an overweight rating in a report on Friday, July 19th. JMP Securities reissued a market outperform rating and set a $30.00 price target on shares of Robinhood Markets in a report on Friday, June 7th. Barclays boosted their price target on Robinhood Markets from $18.00 to $20.00 and gave the company an underweight rating in a report on Wednesday, July 10th. Piper Sandler upped their price objective on Robinhood Markets from $18.00 to $20.00 and gave the stock a neutral rating in a research note on Tuesday, July 9th. Finally, Mizuho upped their price objective on Robinhood Markets from $20.00 to $21.00 and gave the stock a buy rating in a research note on Monday, May 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $21.23.

Robinhood Markets Stock Performance

Robinhood Markets stock opened at $17.12 on Monday. The stock has a market cap of $15.05 billion, a PE ratio of 114.13 and a beta of 1.83. Robinhood Markets has a one year low of $7.91 and a one year high of $24.88. The stock has a fifty day moving average of $21.88 and a 200 day moving average of $18.32.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.13. Robinhood Markets had a return on equity of 1.86% and a net margin of 6.22%. The company had revenue of $618.00 million during the quarter, compared to analysts’ expectations of $552.74 million. During the same quarter in the prior year, the business earned ($0.57) earnings per share. Robinhood Markets’s revenue for the quarter was up 40.1% compared to the same quarter last year. As a group, sell-side analysts predict that Robinhood Markets will post 0.57 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $16.05, for a total value of $4,012,500.00. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $16.05, for a total transaction of $4,012,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Baiju Bhatt sold 120,236 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $22.20, for a total value of $2,669,239.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,401,093 shares of company stock worth $28,227,807. Corporate insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HOOD. Headlands Technologies LLC purchased a new stake in shares of Robinhood Markets in the second quarter worth approximately $4,508,000. Daiwa Securities Group Inc. raised its holdings in shares of Robinhood Markets by 11.8% in the second quarter. Daiwa Securities Group Inc. now owns 46,420 shares of the company’s stock worth $1,054,000 after buying an additional 4,885 shares during the period. Sparta 24 Ltd. purchased a new stake in shares of Robinhood Markets in the second quarter worth approximately $3,669,000. Dorsey & Whitney Trust CO LLC purchased a new stake in shares of Robinhood Markets in the second quarter worth approximately $219,000. Finally, Prudential PLC raised its holdings in shares of Robinhood Markets by 80.8% in the second quarter. Prudential PLC now owns 39,782 shares of the company’s stock worth $903,000 after buying an additional 17,775 shares during the period. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Company Profile

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.