Robinhood Markets (NASDAQ:HOOD) Upgraded by Barclays to Overweight Rating

Barclays upgraded shares of Robinhood Markets (NASDAQ:HOOD) from an equal weight rating to an overweight rating in a report published on Monday morning, Marketbeat reports. The firm currently has $49.00 price target on the stock, up from their previous price target of $26.00.

Other analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft lifted their price objective 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. 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 note on Monday, December 2nd. JMP Securities increased their price objective on shares of Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a research note on Tuesday, November 12th. Sanford C. Bernstein lifted their target price on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Finally, Needham & Company LLC upgraded Robinhood Markets from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.13.

Robinhood Markets Trading Down 5.1 %

HOOD opened at $39.54 on Monday. The stock has a market capitalization of $34.95 billion, a P/E ratio of 67.02, a P/E/G ratio of 0.93 and a beta of 2.08. Robinhood Markets has a 12 month low of $10.38 and a 12 month high of $42.76. The firm’s fifty day simple moving average is $30.41 and its 200 day simple moving average is $24.53.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The firm had revenue of $637.00 million during the quarter, compared to the consensus estimate 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 quarter last year, the firm earned ($0.09) earnings per share. On average, equities research analysts predict that Robinhood Markets will post 0.77 EPS for the current fiscal year.

Insider Activity

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $22.88, for a total value of $5,720,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $22.37, for a total value of $279,625.00. Following the sale, the insider now directly owns 1,057,500 shares of the company’s stock, valued at $23,656,275. This represents a 1.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,851,175 shares of company stock valued at $169,980,708 over the last ninety days. 19.95% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. bought a new stake in shares of Robinhood Markets during the 3rd quarter valued at $6,321,000. Wilmington Savings Fund Society FSB acquired a new position in Robinhood Markets in the third quarter valued at about $351,000. Sanctuary Advisors LLC lifted its position in Robinhood Markets by 44.1% during the third quarter. Sanctuary Advisors LLC now owns 63,216 shares of the company’s stock worth $1,481,000 after purchasing an additional 19,345 shares during the period. Toronto Dominion Bank grew its stake in Robinhood Markets by 31.1% during the third quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock worth $1,602,000 after buying an additional 16,219 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Robinhood Markets by 19.5% in the 3rd quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock valued at $271,708,000 after buying an additional 1,895,427 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

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.