Robinhood Markets (NASDAQ:HOOD) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Robinhood Markets (NASDAQ:HOOD) from a buy rating to a hold rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Robinhood Financial LLC is a registered broker dealer. Robinhood Securities, LLC provides brokerage clearing services. Robinhood Crypto, LLC provides crypto currency trading. All are subsidiaries of Robinhood Markets, Inc. “

A number of other research analysts have also commented on HOOD. Barclays decreased their price target on shares of Robinhood Markets from $50.00 to $42.00 and set an equal weight rating on the stock in a research note on Wednesday, October 27th. Mizuho decreased their price target on shares of Robinhood Markets from $68.00 to $55.00 and set a buy rating on the stock in a research note on Tuesday, November 2nd. Rosenblatt Securities decreased their price target on shares of Robinhood Markets from $55.00 to $50.00 and set a buy rating on the stock in a research note on Wednesday, October 27th. Piper Sandler decreased their price target on shares of Robinhood Markets from $38.00 to $17.00 and set a neutral rating on the stock in a research note on Monday, January 10th. Finally, The Goldman Sachs Group decreased their price target on shares of Robinhood Markets from $31.00 to $23.00 and set a neutral rating on the stock in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Robinhood Markets presently has an average rating of Hold and a consensus price target of $35.96.

Shares of HOOD stock opened at $15.17 on Wednesday. The firm has a 50-day moving average price of $23.04. Robinhood Markets has a 52-week low of $14.73 and a 52-week high of $85.00.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Tuesday, October 26th. The company reported ($2.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.37) by ($0.69). The firm had revenue of $364.90 million during the quarter, compared to the consensus estimate of $437.55 million. Robinhood Markets had a negative net margin of 183.63% and a negative return on equity of 282.13%. The firm’s revenue for the quarter was up 35.4% on a year-over-year basis. On average, analysts predict that Robinhood Markets will post -0.26 earnings per share for the current year.

In other news, insider Baiju Bhatt sold 120,651 shares of the firm’s stock in a transaction on Thursday, October 28th. The shares were sold at an average price of $34.86, for a total transaction of $4,205,893.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 120,647 shares of the firm’s stock in a transaction on Thursday, October 28th. The shares were sold at an average price of $34.86, for a total transaction of $4,205,754.42. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 444,683 shares of company stock valued at $13,310,501.

Several hedge funds have recently added to or reduced their stakes in the company. HM Payson & Co. bought a new position in shares of Robinhood Markets during the third quarter valued at $25,000. Ironwood Financial llc acquired a new stake in shares of Robinhood Markets during the third quarter worth $26,000. Rockefeller Capital Management L.P. acquired a new stake in shares of Robinhood Markets during the third quarter worth $28,000. Fifth Third Bancorp acquired a new stake in shares of Robinhood Markets during the third quarter worth $28,000. Finally, Koshinski Asset Management Inc. acquired a new stake in shares of Robinhood Markets during the third quarter worth $29,000. 55.37% of the stock is owned by hedge funds and other institutional investors.

About Robinhood Markets

Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), options, gold, and cryptocurrencies. The company also offers various learning and education solutions comprise Snacks, a digest of business news stories; Learn, which is a collection of approximately 650 articles, including guides, feature tutorials, and financial dictionary; Newsfeeds that offer access to free premium news from various sites, such as Barron’s, Reuters, and The Wall Street Journal; and lists, which allow users to create custom watchlists to monitor securities, ETFs, and cryptocurrencies, as well as cash management services.

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