Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $20.00

Robinhood Markets (NASDAQ:HOOD) had its target price raised by Piper Sandler from $18.00 to $20.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Several other research analysts also recently issued reports on the stock. JMP Securities restated a market outperform rating and set a $30.00 price objective on shares of Robinhood Markets in a report on Friday, June 7th. Citigroup boosted their price objective on shares of Robinhood Markets from $16.00 to $18.00 and gave the stock a sell rating in a report on Thursday, June 13th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Robinhood Markets from $19.00 to $20.00 and gave the stock a hold rating in a report on Thursday, June 20th. Keefe, Bruyette & Woods assumed coverage on shares of Robinhood Markets in a research note on Wednesday, April 3rd. They issued a market perform rating and a $20.00 target price on the stock. Finally, Sanford C. Bernstein assumed coverage on shares of Robinhood Markets in a research note on Thursday, March 14th. They issued an outperform rating and a $30.00 target price on the stock. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $21.10.

Robinhood Markets Price Performance

Shares of HOOD opened at $22.04 on Tuesday. The company has a market capitalization of $19.37 billion, a PE ratio of 146.93 and a beta of 1.84. Robinhood Markets has a one year low of $7.91 and a one year high of $24.28. The company’s fifty day moving average price is $21.03 and its 200 day moving average price is $17.06.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.13. Robinhood Markets had a net margin of 6.22% and a return on equity of 1.86%. The company had revenue of $618.00 million for the quarter, compared to the consensus estimate of $552.74 million. During the same quarter in the previous year, the firm posted ($0.57) EPS. The business’s revenue was up 40.1% compared to the same quarter last year. Analysts anticipate that Robinhood Markets will post 0.56 earnings per share for the current year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $22.50, for a total value of $5,625,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $22.80, for a total transaction of $285,000.00. Following the transaction, the insider now directly owns 956,247 shares in the company, valued at $21,802,431.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $22.50, for a total transaction of $5,625,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,494,233 shares of company stock worth $29,762,641 over the last ninety days. Corporate insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

A number of large investors have recently modified their holdings of the stock. Renaissance Capital LLC lifted its position in shares of Robinhood Markets by 43.4% during the second quarter. Renaissance Capital LLC now owns 596,736 shares of the company’s stock worth $13,552,000 after purchasing an additional 180,583 shares in the last quarter. CWM LLC lifted its holdings in Robinhood Markets by 120.7% in the second quarter. CWM LLC now owns 23,222 shares of the company’s stock valued at $527,000 after buying an additional 12,701 shares during the period. DNB Asset Management AS lifted its holdings in Robinhood Markets by 39.7% in the second quarter. DNB Asset Management AS now owns 85,114 shares of the company’s stock valued at $1,933,000 after buying an additional 24,208 shares during the period. GAMMA Investing LLC lifted its holdings in Robinhood Markets by 44.9% in the second quarter. GAMMA Investing LLC now owns 2,290 shares of the company’s stock valued at $52,000 after buying an additional 710 shares during the period. Finally, Railway Pension Investments Ltd lifted its holdings in Robinhood Markets by 52.6% in the first quarter. Railway Pension Investments Ltd now owns 2,393,031 shares of the company’s stock valued at $48,172,000 after buying an additional 825,307 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.