Robinhood Markets (NASDAQ:HOOD) Now Covered by Analysts at BTIG Research

Analysts at BTIG Research initiated coverage on shares of Robinhood Markets (NASDAQ:HOOD) in a report issued on Friday,Benzinga reports. The brokerage set a “buy” rating and a $125.00 price target on the stock. BTIG Research’s price objective points to a potential upside of 33.73% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $130.00 price target on shares of Robinhood Markets in a research report on Tuesday, April 14th. Jefferies Financial Group reduced their target price on Robinhood Markets from $88.00 to $84.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Truist Financial lowered their price target on Robinhood Markets from $120.00 to $100.00 and set a “buy” rating for the company in a report on Monday, April 13th. Loop Capital set a $110.00 price objective on shares of Robinhood Markets in a report on Wednesday, June 17th. Finally, Barclays lowered their target price on shares of Robinhood Markets from $89.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Nineteen 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $112.91.

Robinhood Markets Stock Performance

HOOD stock opened at $93.47 on Friday. The firm has a market cap of $84.17 billion, a price-to-earnings ratio of 45.15, a PEG ratio of 1.79 and a beta of 2.35. The firm has a 50-day simple moving average of $85.63 and a two-hundred day simple moving average of $90.35. Robinhood Markets has a one year low of $63.51 and a one year high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.The firm’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.37 EPS. As a group, equities analysts predict that Robinhood Markets will post 1.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Robinhood Markets news, CEO Vladimir Tenev sold 375,000 shares of the firm’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $69.83, for a total transaction of $26,186,250.00. Following the completion of the transaction, the chief executive officer directly owned 375,000 shares of the company’s stock, valued at approximately $26,186,250. This trade represents a 50.00% 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, Director Baiju Bhatt sold 67,422 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $75.38, for a total transaction of $5,082,270.36. 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 633,484 shares worth $47,542,923. Corporate insiders own 14.47% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

A number of institutional investors have recently modified their holdings of the stock. Sound Income Strategies LLC raised its position in Robinhood Markets by 152.6% during the fourth quarter. Sound Income Strategies LLC now owns 240 shares of the company’s stock valued at $26,000 after acquiring an additional 145 shares in the last quarter. CYBER HORNET ETFs LLC raised its stake in shares of Robinhood Markets by 527.8% during the 4th quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company’s stock worth $26,000 after buying an additional 190 shares during the period. Elyxium Wealth LLC acquired a new stake in shares of Robinhood Markets in the fourth quarter valued at about $27,000. MV Capital Management Inc. purchased a new stake in Robinhood Markets during the 4th quarter worth approximately $27,000. Finally, Swiss RE Ltd. purchased a new position in Robinhood Markets in the 4th quarter valued at $27,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets News Roundup

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

• Positive Sentiment: Robinhood closed a $2.2 billion offering of 0.00% convertible senior notes due 2029, giving the company substantial capital to invest in growth initiatives and strategic flexibility. The deal also included capped calls and a share repurchase component designed to reduce future dilution risk. Article: Robinhood Closes Offering of $2.2 Billion of 0.00% Convertible Senior Notes Due 2029
• Neutral Sentiment: Robinhood is using part of the proceeds to repurchase stock and buy capped calls, with management saying the transaction should limit dilution unless the shares rise substantially above current levels. Investors may view this as financially prudent, but it does not directly improve near-term operating results. Article: Robinhood Markets, Inc.: Robinhood Closes Offering of $2.2 Billion of 0.00% Convertible Senior Notes Due 2029
• Negative Sentiment: Shares were pressured after reports that Meta Platforms is developing a competing prediction markets app, raising worries that Robinhood could face tougher competition in one of its newer growth areas. Article: Why Robinhood (HOOD) Stock Is Down Today
• Negative Sentiment: The stock has also been volatile following a recent drop tied to broader investor caution, with some commentary suggesting the platform’s growth drivers remain highly sensitive to market conditions and sentiment. Article: Robinhood Stock Has Soared 65% From Its 52-Week Low. Here’s Why I’m Predicting Another Sell-Off.

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.