Mizuho Forecasts Strong Price Appreciation for Robinhood Markets (NASDAQ:HOOD) Stock

Robinhood Markets (NASDAQ:HOOD) had its price objective raised by equities researchers at Mizuho from $145.00 to $172.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s target price would indicate a potential upside of 20.72% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Needham & Company LLC upped their price target on Robinhood Markets from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Robinhood Markets in a report on Wednesday, October 8th. CICC Research began coverage on Robinhood Markets in a report on Monday, October 27th. They issued an “outperform” rating and a $155.00 price objective for the company. Loop Capital set a $161.00 price objective on Robinhood Markets in a report on Monday, October 27th. Finally, Piper Sandler reissued an “overweight” rating and issued a $140.00 price objective (up previously from $120.00) on shares of Robinhood Markets in a report on Tuesday, September 23rd. Thirteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $127.90.

Robinhood Markets Stock Up 4.2%

NASDAQ:HOOD opened at $142.48 on Thursday. Robinhood Markets has a twelve month low of $26.74 and a twelve month high of $153.86. The business has a 50 day moving average price of $129.11 and a two-hundred day moving average price of $98.72. The company has a market cap of $126.62 billion, a P/E ratio of 72.33, a price-to-earnings-growth ratio of 3.55 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.20. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the firm posted $0.17 EPS. The business’s revenue was up 100.0% on a year-over-year basis. As a group, analysts anticipate that Robinhood Markets will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Steven M. Quirk sold 60,113 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $100.91, for a total value of $6,066,002.83. Following the transaction, the insider owned 94,454 shares in the company, valued at approximately $9,531,353.14. This trade represents a 38.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm’s stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $148.34, for a total value of $3,708,500.00. Following the completion of the transaction, the insider owned 565,949 shares in the company, valued at $83,952,874.66. The trade was a 4.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,337,392 shares of company stock valued at $397,124,959 in the last ninety days. Insiders own 14.47% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HOOD. WCM Investment Management LLC grew its position in Robinhood Markets by 3,615.7% in the second quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock valued at $1,081,910,000 after acquiring an additional 11,244,182 shares during the last quarter. Norges Bank bought a new stake in shares of Robinhood Markets during the second quarter worth about $973,122,000. Kingstone Capital Partners Texas LLC bought a new stake in shares of Robinhood Markets during the second quarter worth about $951,479,000. Vanguard Group Inc. grew its holdings in shares of Robinhood Markets by 8.6% during the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company’s stock worth $3,089,914,000 after purchasing an additional 5,874,701 shares during the last quarter. Finally, AGF Management Ltd. grew its holdings in shares of Robinhood Markets by 286.0% during the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company’s stock worth $239,053,000 after purchasing an additional 4,255,862 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.