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

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

Several other research firms also recently commented on HOOD. JMP Securities reiterated a “market outperform” rating and issued a $30.00 target price on shares of Robinhood Markets in a research report on Thursday, August 8th. Citigroup upgraded Robinhood Markets from a “sell” rating to a “neutral” rating and set a $18.00 target price for the company in a research report on Monday, August 5th. Morgan Stanley increased their price target on Robinhood Markets from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. increased their price target on Robinhood Markets from $16.00 to $17.00 and gave the company an “underweight” rating in a research note on Thursday, August 8th. Finally, Piper Sandler raised Robinhood Markets from a “neutral” rating to an “overweight” rating and increased their price target for the company from $20.00 to $23.00 in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Robinhood Markets has an average rating of “Hold” and an average price target of $22.83.

Robinhood Markets Stock Up 2.9 %

Shares of HOOD stock opened at $19.67 on Friday. Robinhood Markets has a twelve month low of $7.91 and a twelve month high of $24.88. The company has a market cap of $17.29 billion, a P/E ratio of 131.13 and a beta of 1.83. The business has a fifty day simple moving average of $20.82 and a 200 day simple moving average of $19.47.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.05. The business had revenue of $682.00 million during the quarter, compared to the consensus estimate 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 for the quarter was up 40.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.03 EPS. As a group, equities research analysts anticipate that Robinhood Markets will post 0.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $22.80, for a total value of $285,000.00. Following the completion of the sale, the insider now owns 956,247 shares of the company’s stock, valued at $21,802,431.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction that occurred 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 document filed with the SEC, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $22.80, for a total value of $285,000.00. Following the sale, the insider now owns 956,247 shares in the company, valued at $21,802,431.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 935,406 shares of company stock valued at $18,675,554. Company insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

A number of hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC bought a new stake in Robinhood Markets during the second quarter worth $996,000. Maven Securities LTD bought a new stake in Robinhood Markets during the second quarter worth $286,000. Dana Investment Advisors Inc. lifted its holdings in Robinhood Markets by 16.7% during the second quarter. Dana Investment Advisors Inc. now owns 13,556 shares of the company’s stock worth $308,000 after acquiring an additional 1,938 shares during the period. Cetera Investment Advisers lifted its holdings in Robinhood Markets by 26.2% during the second quarter. Cetera Investment Advisers now owns 66,341 shares of the company’s stock worth $1,507,000 after acquiring an additional 13,792 shares during the period. Finally, Quarry LP lifted its holdings in Robinhood Markets by 180.7% during the second quarter. Quarry LP now owns 4,042 shares of the company’s stock worth $92,000 after acquiring an additional 2,602 shares during the period. 93.27% of the stock is currently owned by institutional investors.

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.