Robinhood Markets, Inc. (NASDAQ:HOOD) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) have been given an average rating of “Moderate Buy” by the twenty-three brokerages that are presently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and eighteen have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $110.7273.

HOOD has been the topic of a number of research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $110.00 target price on shares of Robinhood Markets in a report on Tuesday, June 9th. Zacks Research raised shares of Robinhood Markets from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Needham & Company LLC raised their target price on shares of Robinhood Markets from $85.00 to $97.00 and gave the stock a “buy” rating in a research note on Thursday. KeyCorp restated an “overweight” rating and set a $100.00 target price on shares of Robinhood Markets in a research note on Monday, June 1st. Finally, Mizuho raised their target price on shares of Robinhood Markets from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th.

Insider Activity at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $83.68, for a total transaction of $836,800.00. Following the completion of the sale, the insider owned 481,396 shares in the company, valued at approximately $40,283,217.28. This trade represents a 2.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven M. Quirk sold 10,837 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $85.91, for a total transaction of $931,006.67. Following the sale, the insider owned 81,989 shares of the company’s stock, valued at approximately $7,043,674.99. This represents a 11.67% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have acquired 680,000 shares of company stock worth $55,306,560 and have sold 571,602 shares worth $41,959,746. 19.95% of the stock is owned by corporate insiders.

Institutional Trading of Robinhood Markets

A number of hedge funds have recently modified their holdings of HOOD. Vanguard Group Inc. lifted its stake in shares of Robinhood Markets by 24.9% during the 3rd quarter. Vanguard Group Inc. now owns 94,437,054 shares of the company’s stock worth $13,521,497,000 after buying an additional 18,824,923 shares during the last quarter. State Street Corp increased its position in Robinhood Markets by 103.2% during the third quarter. State Street Corp now owns 32,246,155 shares of the company’s stock worth $4,617,004,000 after acquiring an additional 16,375,734 shares during the period. Norges Bank bought a new position in Robinhood Markets during the fourth quarter worth about $1,202,160,000. Amundi increased its position in Robinhood Markets by 89.0% during the first quarter. Amundi now owns 6,385,232 shares of the company’s stock worth $442,497,000 after acquiring an additional 3,007,103 shares during the period. Finally, Corient Private Wealth LLC increased its position in Robinhood Markets by 5,221.4% during the fourth quarter. Corient Private Wealth LLC now owns 2,559,848 shares of the company’s stock worth $289,519,000 after acquiring an additional 2,511,743 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Stock Performance

Shares of HOOD opened at $93.19 on Monday. Robinhood Markets has a 12 month low of $63.51 and a 12 month high of $153.86. The firm has a fifty day simple moving average of $80.09 and a 200 day simple moving average of $92.02. The stock has a market capitalization of $83.92 billion, a price-to-earnings ratio of 45.02, a PEG ratio of 2.33 and a beta of 2.35.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Tuesday, April 28th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.01). Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the company posted $0.37 EPS. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, research analysts predict that Robinhood Markets will post 1.83 earnings per share for the current fiscal year.

Robinhood Markets News Summary

Here are the key news stories impacting Robinhood Markets this week:

• Positive Sentiment: Robinhood’s securities arm received approval to underwrite IPOs, potentially expanding revenue opportunities and giving the company a bigger role in future public offerings. Robinhood Just Won Approval to Underwrite IPOs, Right Before SpaceX’s Blockbuster Market Debut. Here’s Why the Timing Matters.
• Positive Sentiment: SpaceX’s IPO sparked “record-breaking” traffic on Robinhood’s platform, highlighting heavy retail engagement and the value of its IPO-access business. Robinhood sees ‘record-breaking’ traffic after SpaceX stock debuts
• Positive Sentiment: Needham raised its price target on Robinhood to $97 and reiterated a buy rating, adding to bullish sentiment around the stock. Benzinga report on Needham price target raise
• Neutral Sentiment: Robinhood saw unusual options activity, with traders buying a much larger-than-normal volume of call options, suggesting heightened speculation around the shares.
• Neutral Sentiment: The stock also benefited from a broader lift in financial stocks and related retail brokerage names during Friday’s session. Sector Update: Financial Stocks Advance Late Afternoon
• Negative Sentiment: Robinhood’s platform experienced trading issues amid the surge in SpaceX-related demand, which could raise concerns about reliability during peak activity. HOOD Stock: Robinhood Buckles Under SpaceX IPO Demand, Users Report Trading Issues
• Negative Sentiment: ARK Invest reportedly sold shares of Robinhood, which may temper enthusiasm for some investors. HOOD Stock Gains Overnight: Cathie Wood’s ARK Sells Shares Even As Robinhood Stacks Up Fresh Catalysts

Robinhood Markets Company Profile

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.