Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $25.00

Robinhood Markets (NASDAQ:HOOD) had its price objective boosted by The Goldman Sachs Group from $22.50 to $25.00 in a report released on Monday, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research firms have also recently issued reports on HOOD. Citigroup increased their target price on Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. KeyCorp increased their target price on Robinhood Markets from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Morgan Stanley raised their price objective on Robinhood Markets from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. raised their price objective on Robinhood Markets from $16.00 to $17.00 and gave the company an “underweight” rating in a report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Robinhood Markets from $24.00 to $27.00 and gave the company a “buy” rating in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $24.10.

Robinhood Markets Trading Up 0.5 %

HOOD stock opened at $26.93 on Monday. The stock has a 50-day moving average price of $21.68 and a two-hundred day moving average price of $20.74. The stock has a market cap of $23.67 billion, a PE ratio of 179.53 and a beta of 1.84. Robinhood Markets has a 1 year low of $7.91 and a 1 year high of $27.33.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.05. The firm had revenue of $682.00 million during the quarter, compared to analysts’ expectations of $640.39 million. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. The company’s revenue was up 40.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 EPS. On average, analysts forecast that Robinhood Markets will post 0.76 earnings per share for the current fiscal year.

Insider Activity at Robinhood Markets

In related news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $16.05, for a total value of $4,012,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Robinhood Markets news, Director Baiju Bhatt sold 143,944 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $18.73, for a total transaction of $2,696,071.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $16.05, for a total transaction of $4,012,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,541,250 shares of company stock worth $107,643,767. Insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Hedge funds have recently bought and sold shares of the stock. ORG Wealth Partners LLC acquired a new stake in Robinhood Markets during the third quarter worth approximately $33,000. ORG Partners LLC bought a new position in shares of Robinhood Markets during the second quarter worth approximately $33,000. Allspring Global Investments Holdings LLC bought a new position in shares of Robinhood Markets during the first quarter worth approximately $34,000. International Assets Investment Management LLC bought a new position in shares of Robinhood Markets during the second quarter worth approximately $40,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Robinhood Markets during the second quarter worth approximately $45,000. 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.