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

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

HOOD has been the subject of several other research reports. KeyCorp lifted their price objective on shares of Robinhood Markets from $60.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday. Needham & Company LLC restated a “buy” rating and issued a $71.00 price target on shares of Robinhood Markets in a report on Tuesday, May 27th. Redburn Atlantic reaffirmed a “sell” rating and issued a $48.00 price target (up from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. Deutsche Bank Aktiengesellschaft boosted their target price on Robinhood Markets from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, June 9th. Finally, Compass Point upped their price target on Robinhood Markets from $64.00 to $96.00 and gave the stock a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Robinhood Markets currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.00.

Robinhood Markets Stock Down 0.8%

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

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). The business had revenue of $927.00 million for the quarter, compared to the consensus estimate of $917.12 million. Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The firm’s revenue for the quarter was up 50.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.18 EPS. As a group, equities research analysts anticipate that Robinhood Markets will post 1.35 EPS for the current year.

Insider Buying and Selling

In other Robinhood Markets news, Director Christopher D. Payne bought 26,500 shares of the stock in a transaction on Friday, June 13th. The shares were acquired at an average price of $74.19 per share, with a total value of $1,966,035.00. Following the acquisition, the director directly owned 26,500 shares of the company’s stock, valued at $1,966,035. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven M. Quirk sold 92,257 shares of Robinhood Markets stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $84.96, for a total value of $7,838,154.72. Following the completion of the transaction, the insider owned 136,364 shares of the company’s stock, valued at approximately $11,585,485.44. This trade represents a 40.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,722,691 shares of company stock valued at $107,708,726. Corporate insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Whipplewood Advisors LLC grew its stake in Robinhood Markets by 564.4% during the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company’s stock valued at $25,000 after acquiring an additional 508 shares in the last quarter. Hemington Wealth Management boosted its holdings in Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company’s stock valued at $26,000 after purchasing an additional 218 shares during the period. Wayfinding Financial LLC purchased a new position in shares of Robinhood Markets during the 1st quarter valued at $30,000. CoreCap Advisors LLC grew its position in shares of Robinhood Markets by 191.6% during the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock valued at $31,000 after purchasing an additional 550 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV increased its holdings in shares of Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after purchasing an additional 750 shares during the period. Hedge funds and other institutional investors 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.