Mizuho Forecasts Strong Price Appreciation for Robinhood Markets (NASDAQ:HOOD) Stock

Robinhood Markets (NASDAQ:HOOD) had its target price lifted by Mizuho from $60.00 to $65.00 in a research note released on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

HOOD has been the subject of a number of other reports. The Goldman Sachs Group upgraded shares of Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $40.00 to $46.00 in a research note on Friday, December 6th. Barclays lifted their price target on shares of Robinhood Markets from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Citigroup upped their price objective on Robinhood Markets from $25.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Morgan Stanley raised their target price on shares of Robinhood Markets from $55.00 to $64.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Finally, KeyCorp lifted their price objective on Robinhood Markets from $50.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $46.67.

Robinhood Markets Stock Performance

Shares of HOOD stock opened at $55.86 on Friday. The company’s 50-day moving average is $43.49 and its 200 day moving average is $31.13. Robinhood Markets has a one year low of $11.00 and a one year high of $55.98. The company has a market capitalization of $49.38 billion, a price-to-earnings ratio of 94.68, a price-to-earnings-growth ratio of 0.73 and a beta of 2.13.

Insider Activity at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $38.22, for a total transaction of $477,750.00. Following the transaction, the insider now owns 1,106,955 shares of the company’s stock, valued at approximately $42,307,820.10. This represents a 1.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $47.82, for a total transaction of $280,990.32. The disclosure for this sale can be found here. Insiders sold a total of 3,857,561 shares of company stock worth $159,976,719 in the last quarter. 19.95% of the stock is owned by company insiders.

Institutional Trading of Robinhood Markets

Institutional investors have recently modified their holdings of the company. New Wave Wealth Advisors LLC acquired a new stake in shares of Robinhood Markets in the 4th quarter worth $26,000. HM Payson & Co. increased its holdings in Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after buying an additional 410 shares during the period. Eastern Bank purchased a new position in shares of Robinhood Markets during the third quarter worth $30,000. True Wealth Design LLC acquired a new position in shares of Robinhood Markets in the 3rd quarter valued at about $30,000. Finally, ORG Wealth Partners LLC acquired a new position in Robinhood Markets in the third quarter valued at approximately $33,000. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Company Profile

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.