Barclays Forecasts Strong Price Appreciation for Robinhood Markets (NASDAQ:HOOD) Stock

Robinhood Markets (NASDAQ:HOOD) had its price objective hoisted by analysts at Barclays from $23.00 to $26.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 9.11% from the stock’s current price.

A number of other brokerages also recently issued reports on HOOD. Citigroup lifted their price objective on shares of Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. Keefe, Bruyette & Woods cut their price objective on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Robinhood Markets from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. boosted their target price on shares of Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a research report on Thursday, October 17th. Finally, KeyCorp boosted their target price on shares of Robinhood Markets from $25.00 to $30.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $25.17.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD traded down $4.38 during trading hours on Thursday, hitting $23.83. The company’s stock had a trading volume of 33,896,902 shares, compared to its average volume of 15,484,518. Robinhood Markets has a 52 week low of $7.91 and a 52 week high of $28.58. The company has a market capitalization of $21.08 billion, a price-to-earnings ratio of 72.27 and a beta of 1.84. The firm’s fifty day moving average price is $23.32 and its 200 day moving average price is $21.34.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The business had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. During the same quarter in the prior year, the firm posted ($0.09) EPS. The company’s revenue for the quarter was up 36.4% compared to the same quarter last year. On average, equities research analysts predict that Robinhood Markets will post 0.74 earnings per share for the current fiscal year.

Insider Activity at Robinhood Markets

In related news, Director Baiju Bhatt sold 98,404 shares of the business’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $26.40, for a total value of $2,597,865.60. Following the completion of the transaction, the director now directly owns 2,521 shares in the company, valued at $66,554.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Robinhood Markets news, Director Baiju Bhatt sold 98,404 shares of the company’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $26.40, for a total transaction of $2,597,865.60. Following the completion of the transaction, the director now directly owns 2,521 shares in the company, valued at approximately $66,554.40. This represents a 0.00 % decrease in their ownership of the stock. 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 the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total transaction of $241,625.00. Following the sale, the insider now directly owns 1,045,068 shares of the company’s stock, valued at $20,201,164.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,639,654 shares of company stock worth $110,241,632 in the last three months. Company insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

A number of hedge funds have recently modified their holdings of HOOD. PNC Financial Services Group Inc. grew its holdings in shares of Robinhood Markets by 46.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after purchasing an additional 722 shares during the period. Diversified Trust Co purchased a new stake in shares of Robinhood Markets in the first quarter valued at about $278,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Robinhood Markets in the first quarter valued at about $34,000. Principal Financial Group Inc. grew its holdings in shares of Robinhood Markets by 26.6% in the first quarter. Principal Financial Group Inc. now owns 53,661 shares of the company’s stock valued at $1,080,000 after purchasing an additional 11,264 shares during the period. Finally, Commonwealth Equity Services LLC grew its holdings in shares of Robinhood Markets by 40.1% in the first quarter. Commonwealth Equity Services LLC now owns 46,101 shares of the company’s stock valued at $928,000 after purchasing an additional 13,202 shares during the period. 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.