Robinhood Markets (HOOD) – Research Analysts’ Weekly Ratings Changes

Posted by Matthew Steigler on Oct 17th, 2024

A number of firms have modified their ratings and price targets on shares of Robinhood Markets (NASDAQ: HOOD) recently:

10/17/2024 – Robinhood Markets had its price target raised by analysts at JPMorgan Chase & Co. from $17.00 to $21.00. They now have an “underweight” rating on the stock.
10/17/2024 – Robinhood Markets had its price target raised by analysts at Morgan Stanley from $21.00 to $22.00. They now have an “equal weight” rating on the stock.
10/14/2024 – Robinhood Markets had its price target raised by analysts at The Goldman Sachs Group, Inc. from $22.50 to $25.00. They now have a “neutral” rating on the stock.
10/8/2024 – Robinhood Markets had its “overweight” rating reaffirmed by analysts at Piper Sandler. They now have a $27.00 price target on the stock.
10/7/2024 – Robinhood Markets had its price target raised by analysts at Barclays PLC from $20.00 to $23.00. They now have an “equal weight” rating on the stock.
9/30/2024 – Robinhood Markets had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $24.00 to $27.00. They now have a “buy” rating on the stock.
9/27/2024 – Robinhood Markets had its price target raised by analysts at Citigroup Inc. from $19.00 to $23.00. They now have a “neutral” rating on the stock.
9/19/2024 – Robinhood Markets had its price target raised by analysts at Piper Sandler from $23.00 to $27.00. They now have an “overweight” rating on the stock.
9/6/2024 – Robinhood Markets was upgraded by analysts at Barclays PLC from an “underweight” rating to an “equal weight” rating. They now have a $20.00 price target on the stock, up previously from $18.00.

Robinhood Markets Trading Down 2.3 %

NASDAQ HOOD traded down $0.61 on Thursday, reaching $26.32. 11,574,200 shares of the company were exchanged, compared to its average volume of 15,517,600. The business’s fifty day moving average price is $21.68 and its 200 day moving average price is $20.74. The stock has a market capitalization of $23.13 billion, a P/E ratio of 175.47 and a beta of 1.84. Robinhood Markets, Inc. has a fifty-two week low of $7.91 and a fifty-two week high of $27.33.

Robinhood Markets (NASDAQ:HOOD – Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.05. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The firm had revenue of $682.00 million for the quarter, compared to analysts’ expectations of $640.39 million. During the same quarter in the previous year, the company posted $0.03 EPS. The company’s revenue was up 40.3% compared to the same quarter last year. Equities research analysts forecast that Robinhood Markets, Inc. will post 0.76 earnings per share for the current year.

Insider Activity

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $16.05, for a total value of $4,012,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $19.33, for a total transaction of $241,625.00. Following the completion of the sale, the insider now owns 1,045,068 shares of the company’s stock, valued at $20,201,164.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,541,250 shares of company stock valued at $107,643,767 in the last 90 days. Company insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Several hedge funds have recently bought and sold shares of HOOD. Harbour Capital Advisors LLC purchased a new stake in Robinhood Markets during the 3rd quarter worth approximately $851,000. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in shares of Robinhood Markets by 66.7% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 22,737 shares of the company’s stock worth $533,000 after acquiring an additional 9,101 shares during the period. Vontobel Holding Ltd. raised its stake in shares of Robinhood Markets by 32.3% in the third quarter. Vontobel Holding Ltd. now owns 28,125 shares of the company’s stock valued at $659,000 after acquiring an additional 6,872 shares in the last quarter. Creative Planning raised its stake in shares of Robinhood Markets by 34.6% in the third quarter. Creative Planning now owns 35,384 shares of the company’s stock valued at $829,000 after acquiring an additional 9,094 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new position in Robinhood Markets in the third quarter valued at $33,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

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.