Citigroup Boosts Robinhood Markets (NASDAQ:HOOD) Price Target to $23.00

Robinhood Markets (NASDAQ:HOOD) had its target price increased by Citigroup from $19.00 to $23.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s target price indicates a potential downside of 3.04% from the company’s previous close.

Several other research analysts also recently commented on HOOD. Deutsche Bank Aktiengesellschaft raised shares of Robinhood Markets from a “hold” rating to a “buy” rating and raised their price objective for the stock from $21.00 to $24.00 in a report on Thursday, August 15th. Morgan Stanley boosted their price objective on Robinhood Markets from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. raised their target price on Robinhood Markets from $16.00 to $17.00 and gave the stock an “underweight” rating in a research note on Thursday, August 8th. KeyCorp lifted their target price on Robinhood Markets from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $23.43.

Robinhood Markets Stock Performance

HOOD traded up $1.29 during midday trading on Friday, reaching $23.72. The company had a trading volume of 12,480,304 shares, compared to its average volume of 15,530,127. Robinhood Markets has a 12-month low of $7.91 and a 12-month high of $24.88. The business has a 50-day moving average price of $20.48 and a two-hundred day moving average price of $20.12. The stock has a market cap of $20.85 billion, a PE ratio of 158.33 and a beta of 1.82.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data 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. The business had revenue of $682.00 million during the quarter, compared to analyst estimates of $640.39 million. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. Robinhood Markets’s revenue was up 40.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.03 earnings per share. On average, research analysts anticipate that Robinhood Markets will post 0.76 earnings per share for the current year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $22.80, for a total transaction of $285,000.00. Following the completion of the sale, the insider now owns 956,247 shares of the company’s stock, valued at $21,802,431.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $22.80, for a total transaction of $285,000.00. Following the transaction, the insider now directly owns 956,247 shares in the company, valued at $21,802,431.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $22.50, for a total transaction of $5,625,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,204,096 shares of company stock valued at $23,603,793 over the last 90 days. 19.95% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of HOOD. Angeles Wealth Management LLC lifted its stake in shares of Robinhood Markets by 5.3% in the 1st quarter. Angeles Wealth Management LLC now owns 12,207 shares of the company’s stock valued at $246,000 after acquiring an additional 610 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Robinhood Markets by 44.9% during the second quarter. GAMMA Investing LLC now owns 2,290 shares of the company’s stock valued at $52,000 after purchasing an additional 710 shares during the period. 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 worth $29,000 after purchasing an additional 722 shares during the last quarter. Commerce Bank increased its stake in shares of Robinhood Markets by 7.9% in the fourth quarter. Commerce Bank now owns 12,459 shares of the company’s stock worth $159,000 after buying an additional 917 shares during the period. Finally, Whittier Trust Co. raised its holdings in Robinhood Markets by 25.8% during the 1st quarter. Whittier Trust Co. now owns 5,828 shares of the company’s stock valued at $117,000 after buying an additional 1,194 shares during the last quarter. 93.27% of the stock is owned by 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.