Robinhood Markets (NASDAQ:HOOD) Stock Price Up 2.8% on Analyst Upgrade

Robinhood Markets, Inc. (NASDAQ:HOOD) shares rose 2.8% on Thursday after Argus raised their price target on the stock from $90.00 to $110.00. Argus currently has a buy rating on the stock. Robinhood Markets traded as high as $109.08 and last traded at $108.15. Approximately 38,799,265 shares traded hands during mid-day trading, an increase of 27% from the average daily volume of 30,468,697 shares. The stock had previously closed at $105.20.

A number of other brokerages have also issued reports on HOOD. Wall Street Zen upgraded shares of Robinhood Markets from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 13th. Truist Financial reduced their price objective on shares of Robinhood Markets from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, April 13th. Loop Capital set a $110.00 price objective on shares of Robinhood Markets in a research report on Wednesday. JPMorgan Chase & Co. reduced their target price on shares of Robinhood Markets from $113.00 to $92.00 and set a “neutral” rating for the company in a report on Thursday, April 23rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Robinhood Markets in a report on Friday, March 27th. Eighteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $112.36.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, insider Steven M. Quirk sold 10,837 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $85.91, for a total transaction of $931,006.67. Following the sale, the insider directly owned 81,989 shares of the company’s stock, valued at $7,043,674.99. The trade was a 11.67% decrease in their position. The transaction was disclosed in a legal 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, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $83.68, for a total value of $836,800.00. Following the transaction, the insider directly owned 481,396 shares of the company’s stock, valued at approximately $40,283,217.28. This represents a 2.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders purchased 680,000 shares of company stock valued at $55,306,560 and sold 633,484 shares valued at $47,542,923. 14.47% of the stock is currently owned by company insiders.

Key Headlines Impacting Robinhood Markets

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

• Positive Sentiment: Robinhood announced a 10% workforce reduction aimed at becoming leaner and improving operating efficiency, which investors are viewing as margin supportive. Robinhood Culls 300 in 10% Headcount Cut as Fintechs Retrench
• Positive Sentiment: Wall Street sentiment improved after Argus raised its price target to $110 and maintained a Buy rating, reinforcing confidence in Robinhood’s growth outlook. Analyst hikes Robinhood price target after job cuts
• Positive Sentiment: Robinhood’s record June trading volumes suggest strong user activity and continued demand across its platform. Stock Market Today, June 17: Robinhood Jumps After Announcing 10% Workforce Reduction, Record June Volumes
• Neutral Sentiment: Robinhood remains tied to broader crypto and retail-trading enthusiasm, with some articles highlighting growth from prediction markets and potential future product catalysts. Is the SpaceX IPO Enough to Rescue Robinhood Stock?
• Negative Sentiment: ARK Invest sold additional Robinhood shares into the rally, which may weigh on sentiment even as the stock has been advancing. Cathie Wood’s ARK Dumps Another $26.7M Of Robinhood Despite HOOD Stock’s 36% Monthly Surge

Institutional Investors Weigh In On Robinhood Markets

Several institutional investors have recently added to or reduced their stakes in the business. Sound Income Strategies LLC boosted its stake in Robinhood Markets by 152.6% in the 4th quarter. Sound Income Strategies LLC now owns 240 shares of the company’s stock worth $26,000 after purchasing an additional 145 shares during the period. CYBER HORNET ETFs LLC grew its position in Robinhood Markets by 527.8% during the fourth quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company’s stock valued at $26,000 after acquiring an additional 190 shares during the last quarter. Elyxium Wealth LLC bought a new stake in Robinhood Markets in the fourth quarter worth $27,000. MV Capital Management Inc. bought a new position in Robinhood Markets during the 4th quarter worth approximately $27,000. Finally, Swiss RE Ltd. purchased a new position in shares of Robinhood Markets in the fourth quarter worth $27,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Price Performance

The firm’s 50 day moving average price is $81.94 and its 200 day moving average price is $91.51. The stock has a market capitalization of $97.39 billion, a P/E ratio of 52.25, a P/E/G ratio of 2.42 and a beta of 2.35.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the business posted $0.37 EPS. Robinhood Markets’s revenue for the quarter was up 15.1% on a year-over-year basis. On average, equities research analysts forecast that Robinhood Markets, Inc. will post 1.83 earnings per share for the current year.

Robinhood Markets Company Profile

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.