The Goldman Sachs Group Boosts Robinhood Markets (NASDAQ:HOOD) Price Target to $20.00

Robinhood Markets (NASDAQ:HOOD) had its price objective raised by The Goldman Sachs Group from $18.00 to $20.00 in a research report released on Monday, Benzinga reports. The firm currently has a neutral rating on the stock.

HOOD has been the subject of a number of other reports. Mizuho upped their price target on Robinhood Markets from $17.00 to $20.00 and gave the company a buy rating in a research note on Tuesday, March 19th. Barclays increased their target price on shares of Robinhood Markets from $11.00 to $16.00 and gave the stock an underweight rating in a report on Monday, April 8th. Sanford C. Bernstein assumed coverage on shares of Robinhood Markets in a report on Thursday, March 14th. They issued an outperform rating and a $30.00 price target for the company. JMP Securities raised their price objective on Robinhood Markets from $25.00 to $28.00 and gave the stock a market outperform rating in a research note on Tuesday, April 9th. Finally, TheStreet upgraded Robinhood Markets from a d+ rating to a c- rating in a report on Wednesday, February 28th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average price target of $18.81.

Robinhood Markets Stock Performance

HOOD opened at $17.08 on Monday. The company has a fifty day moving average price of $16.72 and a two-hundred day moving average price of $12.58. The firm has a market capitalization of $14.94 billion, a PE ratio of -28.47 and a beta of 1.69. Robinhood Markets has a 52 week low of $7.91 and a 52 week high of $20.55.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. Robinhood Markets had a negative return on equity of 7.87% and a negative net margin of 29.01%. The business had revenue of $471.00 million during the quarter, compared to analysts’ expectations of $454.73 million. During the same period in the previous year, the firm earned ($0.19) earnings per share. The firm’s quarterly revenue was up 23.9% compared to the same quarter last year. Equities analysts forecast that Robinhood Markets will post 0.29 EPS for the current year.

Insider Transactions at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $10.61, for a total value of $132,625.00. Following the sale, the insider now owns 738,291 shares of the company’s stock, valued at approximately $7,833,267.51. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $10.61, for a total transaction of $132,625.00. Following the completion of the transaction, the insider now owns 738,291 shares in the company, valued at $7,833,267.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jason Warnick sold 5,000 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $12.00, for a total transaction of $60,000.00. Following the completion of the transaction, the chief financial officer now directly owns 916,267 shares of the company’s stock, valued at approximately $10,995,204. The disclosure for this sale can be found here. Insiders sold 2,212,150 shares of company stock valued at $33,495,819 over the last three months. Company insiders own 20.81% of the company’s stock.

Institutional Trading of Robinhood Markets

Several institutional investors and hedge funds have recently bought and sold shares of HOOD. Raymond James & Associates grew its stake in Robinhood Markets by 30.3% in the first quarter. Raymond James & Associates now owns 69,419 shares of the company’s stock valued at $938,000 after purchasing an additional 16,133 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in Robinhood Markets during the first quarter worth $199,000. Bank of New York Mellon Corp increased its holdings in Robinhood Markets by 21.9% during the first quarter. Bank of New York Mellon Corp now owns 53,868 shares of the company’s stock worth $727,000 after buying an additional 9,661 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Robinhood Markets by 69.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 21,760 shares of the company’s stock worth $294,000 after acquiring an additional 8,882 shares in the last quarter. Finally, HighTower Advisors LLC lifted its stake in Robinhood Markets by 38.2% in the first quarter. HighTower Advisors LLC now owns 92,318 shares of the company’s stock valued at $1,248,000 after acquiring an additional 25,502 shares during the last quarter. Institutional investors 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.