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

Robinhood Markets (NASDAQ:HOOD) had its price target hoisted by Piper Sandler from $30.00 to $36.00 in a report issued on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts have also recently commented on the company. JMP Securities boosted their target price on Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a report on Tuesday, November 12th. Barclays boosted their target price on Robinhood Markets from $23.00 to $26.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. KeyCorp boosted their target price on Robinhood Markets from $25.00 to $30.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Keefe, Bruyette & Woods dropped their target price on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. Finally, The Goldman Sachs Group dropped their target price on Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $27.34.

Robinhood Markets Trading Up 8.3 %

HOOD opened at $35.00 on Monday. The business’s 50 day moving average is $25.77 and its 200-day moving average is $22.49. The stock has a market cap of $30.94 billion, a PE ratio of 59.32, a price-to-earnings-growth ratio of 0.77 and a beta of 1.84. Robinhood Markets has a twelve month low of $7.96 and a twelve month high of $35.62.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results 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). The business had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The business’s quarterly revenue was up 36.4% on a year-over-year basis. During the same period last year, the firm posted ($0.09) EPS. As a group, analysts forecast that Robinhood Markets will post 0.72 EPS for the current year.

Insiders Place Their Bets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $19.33, for a total transaction of $241,625.00. Following the transaction, the insider now directly owns 1,045,068 shares in the company, valued at approximately $20,201,164.44. The trade was a 1.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $19.26, for a total transaction of $4,815,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,710,549 shares of company stock worth $115,477,194. Corporate insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Several institutional investors and hedge funds have recently modified their holdings of HOOD. Allspring Global Investments Holdings LLC purchased a new position in shares of Robinhood Markets during the 1st quarter valued at $34,000. Empowered Funds LLC acquired a new stake in shares of Robinhood Markets in the 1st quarter valued at $262,000. Intech Investment Management LLC lifted its stake in shares of Robinhood Markets by 60.1% in the 1st quarter. Intech Investment Management LLC now owns 28,819 shares of the company’s stock valued at $580,000 after purchasing an additional 10,820 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Robinhood Markets by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock valued at $1,143,960,000 after purchasing an additional 1,003,535 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Robinhood Markets in the 1st quarter valued at $270,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

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.