Robinhood Markets (NASDAQ:HOOD) Stock Price Expected to Rise, Sanford C. Bernstein Analyst Says

Robinhood Markets (NASDAQ:HOOD) had its price target hoisted by research analysts at Sanford C. Bernstein from $130.00 to $160.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Sanford C. Bernstein’s target price would suggest a potential upside of 50.43% from the stock’s current price.

A number of other equities analysts also recently issued reports on HOOD. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Robinhood Markets from $105.00 to $113.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Barclays upped their target price on Robinhood Markets from $82.00 to $122.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Loop Capital set a $110.00 target price on Robinhood Markets in a research report on Wednesday, June 17th. Citizens Jmp reiterated a “market outperform” rating and issued a $155.00 price target on shares of Robinhood Markets in a report on Thursday, May 28th. Finally, KeyCorp reissued an “overweight” rating and issued a $100.00 price target on shares of Robinhood Markets in a research report on Monday, June 1st. Twenty-one research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus target price of $121.13.

Robinhood Markets Price Performance

HOOD stock opened at $106.36 on Monday. Robinhood Markets has a 1-year low of $63.51 and a 1-year high of $153.86. The business has a 50-day moving average price of $95.20 and a 200 day moving average price of $88.73. The company has a market capitalization of $95.78 billion, a P/E ratio of 51.38, a PEG ratio of 2.10 and a beta of 2.33.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.01). The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.14 billion. Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.The firm’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.37 earnings per share. On average, analysts anticipate that Robinhood Markets will post 1.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Paula Loop sold 8,336 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $120.00, for a total transaction of $1,000,320.00. Following the completion of the sale, the director owned 63,674 shares in the company, valued at approximately $7,640,880. This represents a 11.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Oluwadara Johnson Treseder sold 3,750 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $117.50, for a total value of $440,625.00. Following the completion of the sale, the director directly owned 72,442 shares of the company’s stock, valued at $8,511,935. The trade was a 4.92% 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. Over the last quarter, insiders acquired 680,000 shares of company stock valued at $55,306,560 and sold 587,875 shares valued at $62,602,915. 13.48% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC boosted its holdings in Robinhood Markets by 46.7% in the first quarter. Empowered Funds LLC now owns 49,870 shares of the company’s stock worth $2,076,000 after acquiring an additional 15,885 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Robinhood Markets during the second quarter valued at about $5,105,000. Federated Hermes Inc. raised its position in shares of Robinhood Markets by 106.2% in the 2nd quarter. Federated Hermes Inc. now owns 63,957 shares of the company’s stock valued at $5,988,000 after purchasing an additional 32,933 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Robinhood Markets by 19.1% in the 2nd quarter. NewEdge Advisors LLC now owns 89,676 shares of the company’s stock valued at $8,396,000 after purchasing an additional 14,356 shares during the last quarter. Finally, Nebula Research & Development LLC acquired a new stake in Robinhood Markets in the 2nd quarter worth approximately $1,316,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Key Robinhood Markets News

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

• Positive Sentiment: Bernstein raised its price target on HOOD to $160 from $130 and said Robinhood’s prediction markets business could become a major revenue driver, potentially overtaking crypto revenue. Bernstein raises Robinhood price target to $160 as prediction markets revenue could overtake crypto
• Positive Sentiment: Needham & Company also lifted its price target on HOOD to $123 from $97 and maintained a buy rating, reinforcing the view that the stock still has upside from current levels.
• Positive Sentiment: Bloomberg reported that analysts see Robinhood’s prediction market revenue becoming larger than its crypto business, which supports the bullish narrative that HOOD is building new high-growth income streams. Robinhood Prediction Market Revenue to Top Crypto, Analysts Say
• Positive Sentiment: Investor sentiment around crypto-related stocks improved as Bitcoin recovered, helping lift HOOD alongside peers like Circle and Strategy. Circle, Robinhood, Strategy stocks surge on Bitcoin comeback

About Robinhood Markets

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.