Fintel reports that on May 17, 2024, B of A Securities upgraded their outlook for Robinhood Markets (NasdaqGS:HOOD) from Underperform to Buy.
Analyst Price Forecast Suggests 12.07% Upside
As of May 8, 2024, the average one-year price target for Robinhood Markets is 20.06. The forecasts range from a low of 13.13 to a high of $31.50. The average price target represents an increase of 12.07% from its latest reported closing price of 17.90.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Robinhood Markets is 2,188MM, an increase of 7.15%. The projected annual non-GAAP EPS is -0.24.
What is the Fund Sentiment?
There are 661 funds or institutions reporting positions in Robinhood Markets. This is an increase of 53 owner(s) or 8.72% in the last quarter. Average portfolio weight of all funds dedicated to HOOD is 0.85%, an increase of 26.33%. Total shares owned by institutions decreased in the last three months by 8.55% to 625,886K shares. 
The put/call ratio of HOOD is 0.42, indicating a bullish outlook.
What are Other Shareholders Doing?
Index Venture Associates VI holds 43,404K shares representing 4.94% ownership of the company. In its prior filing, the firm reported owning 50,638K shares , representing a decrease of 16.67%. The firm decreased its portfolio allocation in HOOD by 0.11% over the last quarter.
Galileo holds 40,941K shares representing 4.66% ownership of the company. In its prior filing, the firm reported owning 54,712K shares , representing a decrease of 33.63%. The firm increased its portfolio allocation in HOOD by 62.49% over the last quarter.
Ribbit Management Company holds 36,201K shares representing 4.12% ownership of the company. In its prior filing, the firm reported owning 43,977K shares , representing a decrease of 21.48%. The firm decreased its portfolio allocation in HOOD by 38.06% over the last quarter.
ARK Investment Management holds 26,197K shares representing 2.98% ownership of the company. In its prior filing, the firm reported owning 34,936K shares , representing a decrease of 33.36%. The firm increased its portfolio allocation in HOOD by 38.57% over the last quarter.
Sumitomo Mitsui Trust Holdings holds 26,127K shares representing 2.97% ownership of the company. In its prior filing, the firm reported owning 29,206K shares , representing a decrease of 11.78%. The firm increased its portfolio allocation in HOOD by 30.08% over the last quarter.
Robinhood Markets Background Information
(This description is provided by the company.)
Robinhood Markets, Inc. is an American financial services company headquartered in Menlo Park, California, that facilitates commission-free trades of stocks, exchange-traded funds and cryptocurrencies via a mobile app introduced in March 2015.
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This story originally appeared on Fintel.
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