Robinhood Markets (NASDAQ:HOOD) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Robinhood Markets (NASDAQ:HOOD) from a sell rating to a hold rating in a report published on Saturday,Wall Street Zen reports.

A number of other brokerages have also commented on HOOD. The Goldman Sachs Group lifted their price objective on Robinhood Markets from $144.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, September 29th. Benchmark upgraded Robinhood Markets to a “strong-buy” rating in a report on Wednesday, September 9th. Citigroup restated a “market outperform” rating on shares of Robinhood Markets in a research report on Friday, October 9th. Truist Financial upped their price objective on shares of Robinhood Markets from $130.00 to $134.00 and gave the company a “buy” rating in a research report on Tuesday, October 13th. Finally, Compass Point raised their target price on shares of Robinhood Markets from $126.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, October 2nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.29.

Robinhood Markets Stock Down 2.3%

HOOD stock opened at $92.84 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.22 and a quick ratio of 1.22. Robinhood Markets has a 52-week low of $63.51 and a 52-week high of $150.47. The company has a 50-day moving average of $108.81 and a two-hundred day moving average of $93.55. The stock has a market capitalization of $83.47 billion, a price-to-earnings ratio of 40.90, a price-to-earnings-growth ratio of 1.89 and a beta of 2.35.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, July 29th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.18. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. Robinhood Markets had a return on equity of 22.43% and a net margin of 42.01%. The firm’s revenue for the quarter was up 32.5% compared to the same quarter last year. During the same period last year, the business earned $0.42 earnings per share. As a group, equities research analysts anticipate that Robinhood Markets will post 2.19 EPS for the current year.

Insider Activity

In related news, Director Oluwadara Treseder sold 1,875 shares of the business’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $125.00, for a total value of $234,375.00. Following the completion of the sale, the director directly owned 70,567 shares in the company, valued at $8,820,875. The trade was a 2.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Vladimir Tenev sold 375,000 shares of the stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $113.72, for a total transaction of $42,645,000.00. Following the sale, the chief executive officer owned 375,000 shares in the company, valued at $42,645,000. The trade was a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 1,091,347 shares of company stock valued at $128,447,880. Company insiders own 13.48% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Several large investors have recently modified their holdings of HOOD. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Robinhood Markets by 10.2% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,812,999 shares of the company’s stock worth $472,141,000 after buying an additional 632,403 shares in the last quarter. Amundi lifted its position in Robinhood Markets by 89.0% in the 1st quarter. Amundi now owns 6,385,232 shares of the company’s stock valued at $442,497,000 after acquiring an additional 3,007,103 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Robinhood Markets during the second quarter valued at approximately $379,695,000. Amova Asset Management Americas Inc. boosted its holdings in Robinhood Markets by 15.0% during the first quarter. Amova Asset Management Americas Inc. now owns 5,240,796 shares of the company’s stock worth $362,925,000 after purchasing an additional 685,041 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in Robinhood Markets by 48.6% in the 1st quarter. Renaissance Technologies LLC now owns 5,104,137 shares of the company’s stock valued at $353,717,000 after purchasing an additional 1,668,400 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Robinhood Markets

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

• Positive Sentiment: Analysts see significant long-term potential in Robinhood’s expansion beyond traditional brokerage services. Bernstein projects the company’s prediction-markets business could generate approximately $1.7 billion in annual revenue by 2028, potentially surpassing crypto revenue. Bernstein Sees Robinhood Prediction Markets Reaching $1.7 Billion in Revenue by 2028, Topping Crypto
• Positive Sentiment: Robinhood now has 13 business lines generating at least $100 million in annualized revenue, highlighting product diversification and continued growth beyond stock trading. Investors will look for evidence that these newer businesses can produce sustainable margins. Robinhood Is Building 13 Businesses at Once
• Positive Sentiment: Rosenblatt recently initiated coverage with a Buy rating and a $135 price target, calling Robinhood a “generational growth story,” offering a bullish counterpoint to the recent pullback. Robinhood Gains as Rosenblatt Initiates at Buy

About Robinhood Markets

Robinhood Markets, Inc is a financial services company that operates a digital brokerage platform. Founded in 2013 by Vlad Tenev and Baiju Bhatt, the company became known for offering commission-free trading and a mobile-first investing experience designed to broaden access to financial markets.

Through its platform, Robinhood provides brokerage services for stocks, exchange-traded funds, options and other investments. Its offerings also include cryptocurrency trading, individual retirement accounts, margin investing, cash management services and Robinhood Gold, a subscription-based product that provides additional features and benefits.