KeyCorp Increases Robinhood Markets (NASDAQ:HOOD) Price Target to $23.00

Robinhood Markets (NASDAQ:HOOD) had its target price lifted by analysts at KeyCorp from $22.00 to $23.00 in a report issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price target would suggest a potential upside of 30.53% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Piper Sandler lifted their price target on Robinhood Markets from $12.50 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Mizuho lifted 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. JMP Securities lifted their price target on Robinhood Markets from $25.00 to $28.00 and gave the company a “market outperform” rating in a research note on Tuesday, April 9th. TheStreet upgraded Robinhood Markets from a “d+” rating to a “c-” rating in a research note on Wednesday, February 28th. Finally, Barclays lifted their price target on Robinhood Markets from $11.00 to $16.00 and gave the company an “underweight” rating in a research note on Monday, April 8th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $18.88.

Robinhood Markets Stock Performance

Shares of NASDAQ HOOD opened at $17.62 on Monday. Robinhood Markets has a fifty-two week low of $7.91 and a fifty-two week high of $20.55. The firm has a market capitalization of $15.41 billion, a PE ratio of -29.37 and a beta of 1.68. The stock’s 50-day simple moving average is $17.15 and its 200-day simple moving average is $12.81.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.04. The company had revenue of $471.00 million for the quarter, compared to analyst estimates of $454.73 million. Robinhood Markets had a negative return on equity of 7.87% and a negative net margin of 29.01%. The firm’s revenue was up 23.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.19) earnings per share. On average, sell-side analysts forecast that Robinhood Markets will post 0.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Robinhood Markets news, Director Baiju Bhatt sold 16,667 shares of the business’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $17.16, for a total transaction of $286,005.72. Following the sale, the director now directly owns 36,045 shares in the company, valued at $618,532.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Baiju Bhatt sold 16,667 shares of the business’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $17.16, for a total value of $286,005.72. Following the completion of the transaction, the director now directly owns 36,045 shares of the company’s stock, valued at $618,532.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Jason Warnick sold 5,000 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $19.59, for a total value of $97,950.00. Following the completion of the transaction, the chief financial officer now directly owns 1,002,407 shares of the company’s stock, valued at $19,637,153.13. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,228,817 shares of company stock worth $33,781,825. 20.81% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Robinhood Markets

A number of institutional investors have recently made changes to their positions in HOOD. Norges Bank acquired a new position in shares of Robinhood Markets in the fourth quarter worth $84,165,000. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Robinhood Markets by 9.4% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 29,205,693 shares of the company’s stock valued at $372,081,000 after purchasing an additional 2,517,012 shares during the last quarter. Nikko Asset Management Americas Inc. increased its stake in Robinhood Markets by 9.6% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 28,297,822 shares of the company’s stock valued at $360,514,000 after purchasing an additional 2,486,986 shares during the last quarter. Vanguard Group Inc. increased its stake in Robinhood Markets by 4.5% in the third quarter. Vanguard Group Inc. now owns 57,261,184 shares of the company’s stock valued at $561,732,000 after purchasing an additional 2,459,702 shares during the last quarter. Finally, ARK Investment Management LLC increased its stake in Robinhood Markets by 6.4% in the fourth quarter. ARK Investment Management LLC now owns 34,936,204 shares of the company’s stock valued at $445,087,000 after purchasing an additional 2,101,325 shares during the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

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.