Citigroup Increases Robinhood Markets (NASDAQ:HOOD) Price Target to $45.00

Robinhood Markets (NASDAQ:HOOD) had its price objective boosted by research analysts at Citigroup from $25.00 to $45.00 in a report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price target would indicate a potential upside of 12.28% from the stock’s current price.

A number of other analysts also recently commented on the company. Piper Sandler upped their price objective on Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Barclays upgraded Robinhood Markets from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $26.00 to $49.00 in a report on Monday, December 9th. JMP Securities upped their price objective on Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. upgraded Robinhood Markets from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $20.00 to $43.00 in a report on Tuesday, January 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $52.00 price objective (up from $40.00) on shares of Robinhood Markets in a report on Monday, December 9th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $42.13.

Robinhood Markets Stock Down 1.8 %

Shares of Robinhood Markets stock opened at $40.08 on Friday. Robinhood Markets has a fifty-two week low of $10.38 and a fifty-two week high of $43.83. The firm has a market cap of $35.43 billion, a PE ratio of 67.93, a P/E/G ratio of 0.81 and a beta of 2.07. The business’s fifty day moving average is $36.99 and its two-hundred day moving average is $27.46.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $660.53 million. During the same period in the prior year, the company earned ($0.09) EPS. The company’s revenue for the quarter was up 36.4% compared to the same quarter last year. Equities research analysts anticipate that Robinhood Markets will post 0.8 EPS for the current year.

Insider Activity

In other news, Director Baiju Bhatt sold 98,404 shares of the stock in a transaction dated 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 transaction, the director now owns 2,521 shares of the company’s stock, valued at approximately $66,554.40. This trade represents a 97.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $37.92, for a total transaction of $222,817.92. Following the transaction, the chief technology officer now directly owns 11,752 shares in the company, valued at $445,635.84. The trade was a 33.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,708,196 shares of company stock worth $138,845,043 over the last ninety days. Corporate insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Several large investors have recently modified their holdings of HOOD. Allspring Global Investments Holdings LLC lifted its holdings in Robinhood Markets by 1,211,858.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock worth $89,410,000 after acquiring an additional 3,817,355 shares during the last quarter. Azora Capital LP bought a new position in Robinhood Markets in the third quarter worth about $79,780,000. FMR LLC lifted its holdings in Robinhood Markets by 31.3% in the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after acquiring an additional 3,368,118 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Robinhood Markets by 37.7% in the second quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock worth $173,770,000 after acquiring an additional 2,094,800 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Robinhood Markets by 19.5% in the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock worth $271,708,000 after acquiring an additional 1,895,427 shares during the last quarter. Institutional investors 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.