Robinhood Markets (NASDAQ:HOOD) Raised to “Equal Weight” at Barclays

Robinhood Markets (NASDAQ:HOOD) was upgraded by equities researchers at Barclays from an “underweight” rating to an “equal weight” rating in a research report issued on Friday, Briefing.com reports. The brokerage currently has a $20.00 target price on the stock, up from their prior target price of $18.00. Barclays‘s target price indicates a potential upside of 1.68% from the company’s previous close.

A number of other equities research analysts have also commented on HOOD. Deutsche Bank Aktiengesellschaft raised Robinhood Markets from a “hold” rating to a “buy” rating and raised their price target for the stock from $21.00 to $24.00 in a research report on Thursday, August 15th. Morgan Stanley lifted their target price on Robinhood Markets from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. Bank of America lifted their target price on Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Piper Sandler raised Robinhood Markets from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $20.00 to $23.00 in a research report on Monday, August 12th. Finally, The Goldman Sachs Group lifted their target price on Robinhood Markets from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $22.83.

Robinhood Markets Price Performance

NASDAQ HOOD opened at $19.67 on Friday. The firm has a market cap of $17.29 billion, a P/E ratio of 131.13 and a beta of 1.83. The stock’s 50-day moving average is $20.82 and its 200-day moving average is $19.47. Robinhood Markets has a one year low of $7.91 and a one year high of $24.88.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.05. The company had revenue of $682.00 million for the quarter, compared to analyst estimates of $640.39 million. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. Robinhood Markets’s revenue was up 40.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.03 earnings per share. Equities analysts anticipate that Robinhood Markets will post 0.76 EPS for the current year.

Insider Activity at Robinhood Markets

In related news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $22.50, for a total value of $5,625,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Baiju Bhatt sold 121,226 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $21.63, for a total value of $2,622,118.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $22.50, for a total value of $5,625,000.00. The disclosure for this sale can be found here. Insiders sold 935,406 shares of company stock worth $18,675,554 in the last ninety days. 19.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Robinhood Markets by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock valued at $1,143,960,000 after acquiring an additional 1,003,535 shares in the last quarter. Banque Cantonale Vaudoise raised its holdings in Robinhood Markets by 21,404.0% in the 1st quarter. Banque Cantonale Vaudoise now owns 96,768 shares of the company’s stock valued at $1,948,000 after acquiring an additional 96,318 shares in the last quarter. UniSuper Management Pty Ltd raised its holdings in Robinhood Markets by 87.1% in the 1st quarter. UniSuper Management Pty Ltd now owns 5,800 shares of the company’s stock valued at $117,000 after acquiring an additional 2,700 shares in the last quarter. Wellington Management Group LLP acquired a new position in Robinhood Markets in the 4th quarter valued at $8,299,000. Finally, SG Americas Securities LLC raised its holdings in Robinhood Markets by 62.5% in the 1st quarter. SG Americas Securities LLC now owns 283,684 shares of the company’s stock valued at $5,711,000 after acquiring an additional 109,059 shares in the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

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.