Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $54.00

Robinhood Markets (NASDAQ:HOOD) had its price target raised by Barclays from $49.00 to $54.00 in a report issued on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also weighed in on HOOD. KeyCorp lifted their target price on shares of Robinhood Markets from $30.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Sanford C. Bernstein lifted their price objective on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Morgan Stanley upgraded Robinhood Markets from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $24.00 to $55.00 in a research note on Monday, November 25th. Needham & Company LLC restated a “buy” rating and set a $52.00 target price (up previously from $40.00) on shares of Robinhood Markets in a research report on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $42.47.

Robinhood Markets Trading Up 9.1 %

Shares of Robinhood Markets stock opened at $45.56 on Monday. The company has a market cap of $40.27 billion, a price-to-earnings ratio of 77.22, a PEG ratio of 0.58 and a beta of 2.07. Robinhood Markets has a 1 year low of $10.38 and a 1 year high of $46.22. The company’s fifty day simple moving average is $37.63 and its 200-day simple moving average is $27.75.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The firm had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. During the same quarter in the prior year, the business posted ($0.09) EPS. Robinhood Markets’s revenue was up 36.4% compared to the same quarter last year. As a group, research analysts forecast that Robinhood Markets will post 0.91 earnings per share for the current fiscal year.

Insider Transactions at Robinhood Markets

In related news, insider Steven M. Quirk sold 19,861 shares of the firm’s stock in a transaction dated Sunday, December 1st. The stock was sold at an average price of $37.54, for a total value of $745,581.94. Following the transaction, the insider now owns 395,166 shares in the company, valued at $14,834,531.64. This trade represents a 4.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $24.21, for a total value of $6,052,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,609,792 shares of company stock worth $136,247,178. Corporate insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Clarius Group LLC acquired a new position in Robinhood Markets in the fourth quarter valued at approximately $302,000. Udine Wealth Management Inc. raised its position in shares of Robinhood Markets by 70.2% during the 4th quarter. Udine Wealth Management Inc. now owns 78,447 shares of the company’s stock valued at $2,923,000 after acquiring an additional 32,357 shares during the last quarter. Merit Financial Group LLC acquired a new position in shares of Robinhood Markets in the 4th quarter valued at $668,000. Grant GrossMendelsohn LLC bought a new position in shares of Robinhood Markets in the 4th quarter worth $400,000. Finally, Avanza Fonder AB acquired a new stake in shares of Robinhood Markets during the fourth quarter worth $2,606,000. Institutional investors 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.