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

Robinhood Markets (NASDAQ:HOOD) had its price objective increased by research analysts at Barclays from $49.00 to $54.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 29.31% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on the stock. Piper Sandler lifted their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Citigroup upped their price target on Robinhood Markets from $25.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. JMP Securities lifted their price objective on Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a research note on Tuesday, November 12th. Finally, The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and increased their target price for the stock from $40.00 to $46.00 in a research note on Friday, December 6th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.47.

Robinhood Markets Stock Performance

HOOD stock opened at $41.76 on Monday. Robinhood Markets has a one year low of $10.38 and a one year high of $43.83. The firm has a market cap of $36.91 billion, a PE ratio of 70.78, a PEG ratio of 0.81 and a beta of 2.07. The firm’s 50 day moving average price is $37.63 and its 200-day moving average price is $27.75.

Robinhood Markets (NASDAQ:HOOD) last announced 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). The business had revenue of $637.00 million during the quarter, compared to analyst estimates of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The business’s revenue for the quarter was up 36.4% on a year-over-year basis. During the same period last year, the company earned ($0.09) EPS. Equities research analysts predict that Robinhood Markets will post 0.8 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $24.21, for a total value of $6,052,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $42.64, for a total transaction of $250,552.64. Following the completion of the transaction, the chief technology officer now directly owns 5,876 shares in the company, valued at $250,552.64. This trade represents a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,708,196 shares of company stock worth $138,845,043. Corporate insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

Several institutional investors and hedge funds have recently made changes to their positions in HOOD. FMR LLC increased its position in Robinhood Markets by 31.3% during the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after buying an additional 3,368,118 shares during the period. State Street Corp raised its position in Robinhood Markets by 8.7% in the 3rd quarter. State Street Corp now owns 13,558,321 shares of the company’s stock valued at $317,536,000 after purchasing an additional 1,085,679 shares during the last quarter. Geode Capital Management LLC boosted its stake in Robinhood Markets by 19.5% during the 3rd quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock worth $271,708,000 after purchasing an additional 1,895,427 shares during the period. Renaissance Technologies LLC grew its position in Robinhood Markets by 37.7% during the 2nd quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock worth $173,770,000 after purchasing an additional 2,094,800 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Robinhood Markets by 33.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,581,465 shares of the company’s stock valued at $107,298,000 after purchasing an additional 1,137,677 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

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.