Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $75.00

Robinhood Markets (NASDAQ:HOOD) had its price target increased by Piper Sandler from $54.00 to $75.00 in a report issued on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities analysts have also issued reports about the stock. The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and increased their price objective for the company from $40.00 to $46.00 in a research report on Friday, December 6th. Barclays lifted their target price on shares of Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a research note on Thursday. Needham & Company LLC lifted their target price on shares of Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday. Mizuho boosted their price target on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Robinhood Markets currently has an average rating of “Moderate Buy” and an average price target of $58.07.

Robinhood Markets Stock Up 2.3 %

Shares of NASDAQ:HOOD opened at $65.28 on Thursday. The stock has a market cap of $57.71 billion, a PE ratio of 110.65, a PEG ratio of 0.73 and a beta of 2.13. Robinhood Markets has a 52 week low of $13.04 and a 52 week high of $66.91. The company’s fifty day moving average is $45.45 and its 200 day moving average is $32.52.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. Sell-side analysts anticipate that Robinhood Markets will post 0.97 EPS for the current year.

Insider Transactions at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $38.22, for a total transaction of $477,750.00. Following the sale, the insider now owns 1,106,955 shares in the company, valued at approximately $42,307,820.10. This represents a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $37.92, for a total value of $222,817.92. Following the transaction, the chief technology officer now owns 11,752 shares in the company, valued at approximately $445,635.84. This trade represents a 33.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,948,427 shares of company stock valued at $165,005,244. 19.95% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Robinhood Markets

A number of large investors have recently added to or reduced their stakes in the stock. New Wave Wealth Advisors LLC bought a new position in shares of Robinhood Markets in the 4th quarter worth about $26,000. HM Payson & Co. raised its holdings in shares of Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after purchasing an additional 410 shares during the period. Eastern Bank purchased a new stake in Robinhood Markets during the 3rd quarter worth about $30,000. True Wealth Design LLC purchased a new stake in Robinhood Markets in the 3rd quarter worth approximately $30,000. Finally, Creative Financial Designs Inc. ADV lifted its stake in Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after purchasing an additional 750 shares in the last quarter. Institutional investors and hedge funds 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.