Robinhood Markets (NASDAQ:HOOD) PT Raised to $30.00

Robinhood Markets (NASDAQ:HOOD) had its price target upped by research analysts at Piper Sandler from $27.00 to $30.00 in a report issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 9.45% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. KeyCorp upped their target price on Robinhood Markets from $25.00 to $30.00 and gave the company an “overweight” rating in a research report on Monday. The Goldman Sachs Group upped their price objective on Robinhood Markets from $22.50 to $25.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Needham & Company LLC restated a “hold” rating on shares of Robinhood Markets in a research report on Thursday, August 8th. JPMorgan Chase & Co. upped their price objective on Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a research report on Thursday, October 17th. Finally, Barclays upped their target price on Robinhood Markets from $20.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.97.

Robinhood Markets Price Performance

HOOD opened at $27.41 on Monday. The business’s 50-day moving average is $22.20 and its two-hundred day moving average is $20.91. Robinhood Markets has a 1 year low of $7.91 and a 1 year high of $27.60. The firm has a market capitalization of $24.09 billion, a PE ratio of 182.73 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.05. The business had revenue of $682.00 million during the quarter, compared to the consensus estimate of $640.39 million. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. The company’s quarterly revenue was up 40.3% on a year-over-year basis. During the same quarter last year, the company earned $0.03 earnings per share. As a group, sell-side analysts expect that Robinhood Markets will post 0.76 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $16.05, for a total value of $4,012,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $16.05, for a total value of $4,012,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Baiju Bhatt sold 98,404 shares of the stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $26.40, for a total value of $2,597,865.60. Following the completion of the sale, the director now directly owns 2,521 shares in the company, valued at $66,554.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,639,654 shares of company stock valued at $110,241,632 in the last quarter. Corporate insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Several hedge funds and other institutional investors have recently made changes to their positions in HOOD. PNC Financial Services Group Inc. raised its position in shares of Robinhood Markets by 46.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after acquiring an additional 722 shares in the last quarter. Eastern Bank acquired a new stake in shares of Robinhood Markets during the 3rd quarter worth about $30,000. ORG Partners LLC acquired a new stake in shares of Robinhood Markets during the 2nd quarter worth about $33,000. ORG Wealth Partners LLC acquired a new stake in shares of Robinhood Markets during the 3rd quarter worth about $33,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Robinhood Markets during the 1st quarter worth about $34,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

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), 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.