Robinhood Markets (NASDAQ:HOOD) Upgraded by Wolfe Research to Outperform

Wolfe Research upgraded shares of Robinhood Markets (NASDAQ:HOOD) from a peer perform rating to an outperform rating in a research report report published on Wednesday morning, Marketbeat reports. They currently have $29.00 price objective on the stock.

HOOD has been the subject of a number of other research reports. Citigroup upped their target price on shares of Robinhood Markets from $16.00 to $18.00 and gave the stock a sell rating in a report on Thursday, June 13th. Needham & Company LLC reiterated a hold rating on shares of Robinhood Markets in a report on Thursday, June 6th. Barclays boosted their target price on Robinhood Markets from $16.00 to $18.00 and gave the stock an underweight rating in a report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft increased their price target on Robinhood Markets from $19.00 to $20.00 and gave the company a hold rating in a report on Thursday, June 20th. Finally, Bank of America raised Robinhood Markets from an underperform rating to a buy rating and boosted their price objective for the stock from $14.00 to $24.00 in a research note on Friday, May 17th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Robinhood Markets has a consensus rating of Hold and a consensus target price of $20.77.

Robinhood Markets Trading Up 0.5 %

Shares of Robinhood Markets stock opened at $22.71 on Wednesday. Robinhood Markets has a twelve month low of $7.91 and a twelve month high of $24.28. The firm has a market capitalization of $19.96 billion, a PE ratio of 151.40 and a beta of 1.83. The firm’s 50-day moving average price is $20.07 and its 200 day moving average price is $16.46.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, May 8th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.13. Robinhood Markets had a return on equity of 1.86% and a net margin of 6.22%. The business had revenue of $618.00 million for the quarter, compared to the consensus estimate of $552.74 million. During the same quarter last year, the business posted ($0.57) earnings per share. The business’s quarterly revenue was up 40.1% compared to the same quarter last year. On average, sell-side analysts predict that Robinhood Markets will post 0.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Baiju Bhatt sold 153,180 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $16.63, for a total transaction of $2,547,383.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Robinhood Markets news, Director Baiju Bhatt sold 153,180 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $16.63, for a total value of $2,547,383.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $18.67, for a total value of $4,667,500.00. The disclosure for this sale can be found here. Insiders sold a total of 1,486,733 shares of company stock valued at $28,618,091 over the last 90 days. 19.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently modified their holdings of the company. Railway Pension Investments Ltd raised its holdings in Robinhood Markets by 52.6% during the first quarter. Railway Pension Investments Ltd now owns 2,393,031 shares of the company’s stock worth $48,172,000 after purchasing an additional 825,307 shares in the last quarter. EULAV Asset Management raised its stake in Robinhood Markets by 4.5% during the 1st quarter. EULAV Asset Management now owns 700,000 shares of the company’s stock worth $14,091,000 after acquiring an additional 30,000 shares in the last quarter. Cetera Advisors LLC purchased a new stake in Robinhood Markets in the first quarter valued at $606,000. Jacobs Levy Equity Management Inc. boosted its stake in Robinhood Markets by 12.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,779,376 shares of the company’s stock valued at $35,819,000 after acquiring an additional 197,245 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado purchased a new stake in shares of Robinhood Markets in the 1st quarter valued at about $988,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

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.