Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $99.00 at Mizuho

Robinhood Markets (NASDAQ:HOOD) had its price target lifted by research analysts at Mizuho from $80.00 to $99.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price target suggests a potential upside of 6.62% from the company’s previous close.

HOOD has been the subject of a number of other research reports. Barclays dropped their target price on Robinhood Markets from $76.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday, April 7th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $60.00 price objective on shares of Robinhood Markets in a report on Thursday, March 27th. KeyCorp increased their target price on shares of Robinhood Markets from $60.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday. Cantor Fitzgerald lifted their target price on shares of Robinhood Markets from $89.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Robinhood Markets from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, June 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Robinhood Markets currently has an average rating of “Moderate Buy” and a consensus target price of $69.00.

Robinhood Markets Trading Down 0.8%

Shares of Robinhood Markets stock traded down $0.78 on Tuesday, hitting $92.85. 104,248,004 shares of the company traded hands, compared to its average volume of 28,714,056. Robinhood Markets has a 12-month low of $13.98 and a 12-month high of $99.09. The company has a market cap of $82.22 billion, a P/E ratio of 53.04, a P/E/G ratio of 4.90 and a beta of 2.25. The firm’s 50-day simple moving average is $64.93 and its 200 day simple moving average is $52.03.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The firm had revenue of $927.00 million during the quarter, compared to the consensus estimate of $917.12 million. During the same period in the prior year, the company earned $0.18 EPS. The firm’s revenue was up 50.0% compared to the same quarter last year. Analysts predict that Robinhood Markets will post 1.35 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $71.64, for a total value of $1,791,000.00. Following the sale, the insider owned 841,887 shares in the company, valued at $60,312,784.68. The trade was a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Christopher D. Payne acquired 26,500 shares of the firm’s stock in a transaction on Friday, June 13th. The stock was bought at an average price of $74.19 per share, with a total value of $1,966,035.00. Following the completion of the acquisition, the director directly owned 26,500 shares in the company, valued at approximately $1,966,035. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 1,722,691 shares of company stock valued at $107,708,726 over the last three months. Insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

Several institutional investors and hedge funds have recently bought and sold shares of the stock. IFP Advisors Inc raised its position in shares of Robinhood Markets by 601.1% in the 4th quarter. IFP Advisors Inc now owns 4,396 shares of the company’s stock worth $164,000 after acquiring an additional 3,769 shares in the last quarter. Wealthcare Advisory Partners LLC purchased a new stake in Robinhood Markets in the first quarter worth $277,000. Charles Schwab Investment Management Inc. raised its holdings in Robinhood Markets by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock worth $175,857,000 after purchasing an additional 138,267 shares in the last quarter. Aigen Investment Management LP lifted its position in Robinhood Markets by 161.2% during the fourth quarter. Aigen Investment Management LP now owns 85,868 shares of the company’s stock valued at $3,199,000 after buying an additional 52,988 shares during the period. Finally, Fiduciary Alliance LLC bought a new stake in shares of Robinhood Markets during the 1st quarter valued at $2,177,000. 93.27% of the stock is currently 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.