In the latest trading session, 2.26 million Robinhood Markets Inc (NASDAQ:HOOD) shares changed hands as the company’s beta touched 1.14. With the company’s most recent per share price at $8.01 changed hands at -$0.12 or -1.44% at last look, the market valuation stands at $6.93B. HOOD’s current price is a discount, trading about -65.17% off its 52-week high of $13.23. The share price had its 52-week low at $7.57, which suggests the last value was 5.49% up since then. When we look at Robinhood Markets Inc’s average trading volume, we note the 10-day average is 13.3 million shares, with the 3-month average coming to 7.14 million.
Analysts gave the Robinhood Markets Inc (HOOD) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.81. If we narrow down to specifics, the data shows that 2 out of 16 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 9 recommended HOOD as a Hold, 4 felt it is a Buy and 1 rated the stock as Underweight. Robinhood Markets Inc’s EPS for the current quarter is expected to be -$0.02.
Robinhood Markets Inc (NASDAQ:HOOD) trade information
Instantly HOOD was in red as seen in intraday trades today. With action -5.73%, the performance over the past five days has been red. The drop to weekly highs of 8.61 on Monday, 11/20/23 subtracted -1.44% to the stock’s daily price. The company’s shares are showing year-to-date downside of -1.56%, with the 5-day performance at -5.73% in the red. However, in the 30-day time frame, Robinhood Markets Inc (NASDAQ:HOOD) is -12.62% down. Looking at the short shares, we see there were 24.46 million shares sold at short interest cover period of 4.83 days.
The consensus price target for the stock as assigned by Wall Street analysts is $11.93, meaning bulls need an upside of 32.86% from its recent market value. According to analyst projections, HOOD’s forecast low is $9.00 with $23.00 as the target high. To hit the forecast high, the stock’s price needs a -187.14% plunge from its current level, while the stock would need to soar -12.36% for it to hit the projected low.
Robinhood Markets Inc (HOOD) estimates and forecasts
Data shows that the Robinhood Markets Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -7.68% over the past 6 months, a 45.30% in annual growth rate that is considerably higher than the industry average of -0.40%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Robinhood Markets Inc will rise 89.50%, while the growth in revenue is estimated to hit 100.00% for the next quarter. Year-over-year growth is forecast to reach 35.10% up from the last financial year.
Consensus estimates given by 7 financial analysts project the company’s revenue in the current quarter to hit an average of $438.37 million. 5 analysts are of the opinion that Robinhood Markets Inc’s revenue for the quarter ending Mar 2024 will be $472.78 million. The company’s revenue for the corresponding quarters a year ago was $380 million and $424.53 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 15.40%. The estimates for the next quarter sales put growth at 11.40%.
The 2023 estimates are for Robinhood Markets Inc earnings to increase by 44.03%.
Robinhood Markets Inc is expected to release its next quarterly earnings report between February 08 and February 12.
Robinhood Markets Inc (NASDAQ:HOOD)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 7.92% of Robinhood Markets Inc shares while 72.08% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 78.28%. There are 72.08% institutions holding the Robinhood Markets Inc stock share, with Index Venture Associates VI Ltd the top institutional holder. As of Sep 29, 2023, the company held 7.84% of the shares, roughly 57.87 million HOOD shares worth $465.58 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 7.76% or 57.26 million shares worth $460.67 million as of Sep 29, 2023.
Among Mutual Funds, the top two as of Sep 29, 2023 were ARK ETF Tr-ARK Innovation ETF and Vanguard Total Stock Market Index Fund. With 20.2 million shares estimated at $162.5 million under it, the former controlled 2.74% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.66% of the shares, roughly 19.62 million shares worth around $157.83 million.