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Robinhood Markets, Inc. (NASDAQ:HOOD) shares are dropping Monday as global markets tumble.
What To Know:
Robinhood shares fell nearly 12% Friday as investors reacted to new U.S. economic data which indicated a possible recession. Uncertainty has spread throughout global markets Monday amid multiple catalysts including geopolitical tensions in the Middle East and concerns about the strength of the U.S. economy. Monday's deeper sell-off began in Asian markets after the Nikkei 225 fell more than 12% after the Bank of Japan raised interest rates.
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Citigroup analyst Christopher Allen upgraded Robinhood from Sell to Neutral on Monday. The company is set to report its second-quarter results after the market close on Wednesday, according to data from Benzinga Pro.
When trying to assess whether or not Robinhood Markets will trade higher from current levels, it's a good idea to take a look at analyst forecasts.
Wall Street analysts have an average 12-month price target of $23.12 on Robinhood Markets. The Street high target is currently at $30 and the Street low target is $18. Of all the analysts covering Robinhood Markets, 7 have positive ratings, 6 have neutral ratings and 3 have negative ratings.
In the last month, 5 analysts have adjusted price targets. Here's a look at recent price target changes [Analyst Ratings]. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering Robinhood Markets have performed in recent history.
Stocks don't move in a straight line. The average stock market return is approximately 10% per year. Robinhood Markets is 44.54% up year-to-date. The average analyst price target suggests the stock could have further upside ahead.
For a broad overview of everything you need to know about Robinhood Markets, visit here. If you want to go above and beyond, there's no better tool to help you do just that than Benzinga Pro. Start your free trial today.
HOOD Price Action: According to Benzinga Pro, Robinhood shares are down 8.08% at $16.44 at the time of publication Monday.
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