Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $123.00

Robinhood Markets (NASDAQ:HOOD) had its target price raised by Needham & Company LLC from $97.00 to $123.00 in a research report released on Tuesday morning, MarketBeat.com reports. They currently have a buy rating on the stock.

HOOD has been the subject of several other research reports. KeyCorp reiterated an “overweight” rating and set a $100.00 target price on shares of Robinhood Markets in a research report on Monday, June 1st. Barclays raised their price target on Robinhood Markets from $82.00 to $122.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Wall Street Zen upgraded Robinhood Markets from a “strong sell” rating to a “sell” rating in a report on Sunday, July 12th. Keefe, Bruyette & Woods cut their target price on Robinhood Markets from $75.00 to $65.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 29th. Finally, Argus raised their target price on Robinhood Markets from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, June 17th. Twenty-one research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $122.22.

Robinhood Markets Trading Down 2.8%

Shares of NASDAQ HOOD opened at $101.58 on Tuesday. Robinhood Markets has a 1 year low of $63.51 and a 1 year high of $153.86. The firm’s 50-day moving average is $96.17 and its 200-day moving average is $88.57. The firm has a market capitalization of $91.47 billion, a PE ratio of 49.07, a price-to-earnings-growth ratio of 2.21 and a beta of 2.33.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly 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 return on equity of 21.39% and a net margin of 41.12%.The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the firm earned $0.37 earnings per share. The company’s quarterly revenue was up 15.1% on a year-over-year basis. As a group, equities research analysts anticipate that Robinhood Markets will post 1.86 earnings per share for the current fiscal year.

Insider Activity at Robinhood Markets

In related news, 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 transaction of $836,800.00. Following the sale, the insider owned 481,396 shares of the company’s stock, valued at approximately $40,283,217.28. This trade represents a 2.04% decrease in their position. The sale was disclosed in a 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, Director Baiju Bhatt sold 67,422 shares of Robinhood Markets stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $75.38, for a total value of $5,082,270.36. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders purchased 680,000 shares of company stock valued at $55,306,560 and sold 587,875 shares valued at $62,602,915. 13.48% of the stock is owned by company insiders.

Institutional Investors Weigh In On Robinhood Markets

Several large investors have recently modified their holdings of HOOD. Vanguard Group Inc. grew its position in shares of Robinhood Markets by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 95,771,497 shares of the company’s stock valued at $10,831,756,000 after purchasing an additional 1,334,443 shares during the period. State Street Corp increased its stake in Robinhood Markets by 2.7% during the 4th quarter. State Street Corp now owns 33,121,452 shares of the company’s stock worth $3,746,036,000 after purchasing an additional 875,297 shares in the last quarter. Geode Capital Management LLC raised its holdings in Robinhood Markets by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 21,171,925 shares of the company’s stock worth $2,386,944,000 after buying an additional 356,902 shares during the period. Morgan Stanley raised its holdings in Robinhood Markets by 23.9% during the 4th quarter. Morgan Stanley now owns 10,683,776 shares of the company’s stock worth $1,208,335,000 after buying an additional 2,061,832 shares during the period. Finally, Norges Bank bought a new position in Robinhood Markets in the fourth quarter valued at approximately $1,202,160,000. 93.27% of the stock is currently owned by institutional investors.

Key Headlines Impacting Robinhood Markets

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

• Positive Sentiment: Several analysts turned more constructive on Robinhood, including KeyCorp raising its price target to $125 and maintaining an overweight rating, while Needham and other reports pointed to further upside ahead of Q2 earnings.
• Positive Sentiment: Robinhood expanded its product ecosystem with a partnership with WHOOP that gives Platinum Card holders a complimentary annual WHOOP Peak membership, supporting its premium-card strategy.
• Positive Sentiment: Bernstein said Robinhood’s prediction-markets business could scale meaningfully, projecting it could reach $1.7 billion by 2028 and potentially overtake crypto revenue sooner than expected.
• Neutral Sentiment: Robinhood is set to report second-quarter results next week, and recent earnings previews suggest investors are focused on whether the company can beat expectations and sustain momentum.
• Neutral Sentiment: The company’s new premium card and growing Gold/Platinum membership base, including 1 million Gold cards, highlight product adoption, but these developments are not immediate catalysts by themselves.
• Negative Sentiment: HOOD is being dragged down by a broader pullback in tech stocks, which has weighed on risk assets and high-beta names like Robinhood.
• Negative Sentiment: ARK Invest’s continued selling of Robinhood shares is adding pressure to sentiment, even though the firm’s moves do not necessarily reflect Robinhood’s fundamentals.

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.