Robinhood Markets (NASDAQ:HOOD) Stock Price Expected to Rise, KeyCorp Analyst Says

Robinhood Markets (NASDAQ:HOOD) had its price target increased by research analysts at KeyCorp from $30.00 to $47.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s target price would indicate a potential upside of 12.79% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the company. The Goldman Sachs Group increased their target price on Robinhood Markets from $25.00 to $40.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. JPMorgan Chase & Co. increased 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. Piper Sandler boosted their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Keefe, Bruyette & Woods cut their price target 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. Finally, Citigroup boosted their price objective on shares of Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.80.

Robinhood Markets Price Performance

Shares of NASDAQ HOOD opened at $41.67 on Thursday. The company has a market cap of $36.84 billion, a PE ratio of 65.97, a P/E/G ratio of 0.90 and a beta of 2.09. The stock has a fifty day moving average price of $29.73 and a 200 day moving average price of $24.19. Robinhood Markets has a 1-year low of $10.38 and a 1-year high of $42.76.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). The firm had revenue of $637.00 million during the quarter, compared to analyst estimates of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The firm’s revenue was up 36.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.09) EPS. Analysts anticipate that Robinhood Markets will post 0.74 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Baiju Bhatt sold 139,916 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $19.55, for a total transaction of $2,735,357.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $22.37, for a total value of $279,625.00. Following the completion of the sale, the insider now directly owns 1,057,500 shares of the company’s stock, valued at approximately $23,656,275. This represents a 1.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,991,091 shares of company stock worth $172,716,066 over the last three months. 19.95% of the stock is currently owned by corporate insiders.

Institutional Trading of Robinhood Markets

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in shares of Robinhood Markets by 31.3% in the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after purchasing an additional 3,368,118 shares during the last quarter. State Street Corp raised its position in shares of Robinhood Markets by 8.7% in the 3rd quarter. State Street Corp now owns 13,558,321 shares of the company’s stock worth $317,536,000 after buying an additional 1,085,679 shares during the period. Geode Capital Management LLC boosted its holdings in Robinhood Markets by 19.5% in the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock valued at $271,708,000 after acquiring an additional 1,895,427 shares during the last quarter. Renaissance Technologies LLC grew its position in Robinhood Markets by 37.7% during the second quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock valued at $173,770,000 after acquiring an additional 2,094,800 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Robinhood Markets by 33.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,581,465 shares of the company’s stock worth $107,298,000 after acquiring an additional 1,137,677 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.