Robinhood Markets (NASDAQ:HOOD) Raised to “Moderate Buy” at Dbs Bank

by · The Cerbat Gem

Robinhood Markets (NASDAQ:HOOD – Get Free Report) was upgraded by investment analysts at Dbs Bank to a “moderate buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other research analysts also recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Robinhood Markets from $110.00 to $146.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 1st. Needham & Company LLC increased their price objective on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Citigroup raised their target price on Robinhood Markets from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. Compass Point reaffirmed a “buy” rating on shares of Robinhood Markets in a research note on Monday, October 27th. Finally, KeyCorp raised their price objective on Robinhood Markets from $135.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Fifteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $132.65.

Read Our Latest Report on HOOD

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD traded up $0.97 during midday trading on Wednesday, reaching $122.50. The company’s stock had a trading volume of 31,979,812 shares, compared to its average volume of 27,116,374. Robinhood Markets has a fifty-two week low of $29.66 and a fifty-two week high of $153.86. The firm has a 50 day moving average price of $132.81 and a two-hundred day moving average price of $102.40. The firm has a market capitalization of $110.15 billion, a price-to-earnings ratio of 50.83, a PEG ratio of 2.78 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD – Get Free Report) last released its earnings results on Wednesday, November 5th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.41 by $0.20. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.The firm’s revenue was up 100.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.17 earnings per share. As a group, research analysts anticipate that Robinhood Markets will post 1.35 earnings per share for the current year.

Insider Buying and Selling at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $148.34, for a total value of $3,708,500.00. Following the transaction, the insider owned 565,949 shares in the company, valued at $83,952,874.66. The trade was a 4.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Baiju Bhatt sold 1,330,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $128.47, for a total value of $170,865,100.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 4,297,404 shares of company stock valued at $529,026,559 in the last quarter. 14.47% of the stock is owned by company insiders.

Institutional Investors Weigh In On Robinhood Markets

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Robinhood Markets by 24.9% in the third quarter. Vanguard Group Inc. now owns 94,437,054 shares of the company’s stock worth $13,521,497,000 after buying an additional 18,824,923 shares during the last quarter. WCM Investment Management LLC increased its holdings in Robinhood Markets by 3,615.7% in the 2nd quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock worth $1,081,910,000 after acquiring an additional 11,244,182 shares during the last quarter. Norges Bank purchased a new stake in Robinhood Markets in the 2nd quarter worth about $973,122,000. Kingstone Capital Partners Texas LLC bought a new stake in Robinhood Markets in the 2nd quarter valued at about $951,479,000. Finally, AGF Management Ltd. lifted its holdings in Robinhood Markets by 286.0% during the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company’s stock valued at $239,053,000 after purchasing an additional 4,255,862 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

About Robinhood Markets

(Get Free Report)

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.

See Also