Piper Sandler Issues Positive Forecast for Robinhood Markets (NASDAQ:HOOD) Stock Price

Robinhood Markets (NASDAQ:HOOD) had its price objective boosted by Piper Sandler from $36.00 to $42.00 in a research note published on Monday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research analysts have also issued reports on the stock. Keefe, Bruyette & Woods dropped their price objective on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Robinhood Markets from $27.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Sanford C. Bernstein increased their price objective on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Needham & Company LLC raised Robinhood Markets from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Monday, November 18th. Finally, Bank of America upped their price target on Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Robinhood Markets currently has an average rating of “Moderate Buy” and an average price target of $33.60.

Robinhood Markets Stock Performance

NASDAQ HOOD opened at $37.62 on Monday. The firm’s fifty day moving average price is $28.43 and its two-hundred day moving average price is $23.70. The stock has a market cap of $33.26 billion, a PE ratio of 65.19, a PEG ratio of 0.87 and a beta of 1.84. Robinhood Markets has a fifty-two week low of $9.33 and a fifty-two week high of $39.74.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The firm had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. During the same quarter in the prior year, the firm earned ($0.09) EPS. The company’s revenue was up 36.4% on a year-over-year basis. As a group, sell-side analysts predict that Robinhood Markets will post 0.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $19.26, for a total transaction of $4,815,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Baiju Bhatt sold 139,916 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $19.55, for a total value of $2,735,357.80. The disclosure for this sale can be found here. Insiders have sold a total of 4,673,049 shares of company stock valued at $114,711,569 over the last ninety days. 19.95% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its stake in Robinhood Markets by 1,211,858.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock valued at $89,410,000 after purchasing an additional 3,817,355 shares during the last quarter. Azora Capital LP bought a new position in shares of Robinhood Markets in the third quarter valued at approximately $79,780,000. FMR LLC boosted its position in shares of Robinhood Markets by 31.3% during the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after buying an additional 3,368,118 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Robinhood Markets by 37.7% during the second quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock worth $173,770,000 after buying an additional 2,094,800 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Robinhood Markets by 19.5% during the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock worth $271,708,000 after buying an additional 1,895,427 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Company Profile

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.