Deutsche Bank Aktiengesellschaft Increases Robinhood Markets (NASDAQ:HOOD) Price Target to $27.00

Robinhood Markets (NASDAQ:HOOD) had its price objective increased by equities research analysts at Deutsche Bank Aktiengesellschaft from $24.00 to $27.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 20.91% from the stock’s current price.

Several other equities analysts have also recently issued reports on HOOD. Wolfe Research raised Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 price objective for the company in a report on Wednesday, June 26th. Morgan Stanley lifted their target price on shares of Robinhood Markets from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. Keefe, Bruyette & Woods decreased their target price on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. KeyCorp raised their price target on shares of Robinhood Markets from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Finally, The Goldman Sachs Group upped their price objective on shares of Robinhood Markets from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $23.63.

Robinhood Markets Stock Down 4.7 %

Shares of NASDAQ HOOD opened at $22.33 on Monday. Robinhood Markets has a 52 week low of $7.91 and a 52 week high of $24.88. The business’s 50 day moving average price is $20.48 and its 200 day moving average price is $20.28. The firm has a market cap of $19.62 billion, a P/E ratio of 148.87 and a beta of 1.82.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.05. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The firm had revenue of $682.00 million for the quarter, compared to analyst estimates of $640.39 million. During the same quarter in the prior year, the business earned $0.03 earnings per share. The business’s quarterly revenue was up 40.3% compared to the same quarter last year. As a group, research analysts expect that Robinhood Markets will post 0.76 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Vladimir Tenev sold 250,000 shares of the firm’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 filing with the SEC, which is available through this link. In other Robinhood Markets news, Director Baiju Bhatt sold 120,236 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $22.20, for a total value of $2,669,239.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction on Friday, July 5th. The stock was sold at an average price of $22.50, for a total value of $5,625,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,191,596 shares of company stock valued at $23,318,793 in the last 90 days. 19.95% of the stock is owned by insiders.

Hedge Funds Weigh In On Robinhood Markets

A number of institutional investors have recently bought and sold shares of HOOD. Angeles Wealth Management LLC grew its stake in shares of Robinhood Markets by 5.3% in the 1st quarter. Angeles Wealth Management LLC now owns 12,207 shares of the company’s stock valued at $246,000 after buying an additional 610 shares during the period. GAMMA Investing LLC increased its stake in Robinhood Markets by 44.9% during the second quarter. GAMMA Investing LLC now owns 2,290 shares of the company’s stock worth $52,000 after acquiring an additional 710 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Robinhood Markets by 46.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after purchasing an additional 722 shares during the period. Commerce Bank lifted its stake in shares of Robinhood Markets by 7.9% in the 4th quarter. Commerce Bank now owns 12,459 shares of the company’s stock valued at $159,000 after purchasing an additional 917 shares during the last quarter. Finally, Whittier Trust Co. grew its holdings in shares of Robinhood Markets by 25.8% during the 1st quarter. Whittier Trust Co. now owns 5,828 shares of the company’s stock worth $117,000 after purchasing an additional 1,194 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

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.