Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $32.00

Robinhood Markets (NASDAQ:HOOD) had its price target boosted by Deutsche Bank Aktiengesellschaft from $27.00 to $32.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target points to a potential downside of 3.03% from the stock’s current price.

A number of other equities analysts have also recently weighed in on HOOD. Needham & Company LLC reiterated a “hold” rating on shares of Robinhood Markets in a report on Thursday, October 31st. Keefe, Bruyette & Woods dropped their price target on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. JMP Securities upped their price objective on shares of Robinhood Markets from $30.00 to $33.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. Piper Sandler lifted their target price on shares of Robinhood Markets from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Finally, The Goldman Sachs Group decreased their price target on Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $26.10.

Robinhood Markets Trading Up 0.6 %

Robinhood Markets stock opened at $33.00 on Monday. The stock has a market cap of $29.17 billion, a P/E ratio of 55.93, a PEG ratio of 0.73 and a beta of 1.84. The company has a 50-day moving average price of $24.69 and a 200 day moving average price of $22.05. Robinhood Markets has a 12-month low of $7.91 and a 12-month high of $34.32.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). The firm had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The firm’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.09) EPS. As a group, analysts forecast that Robinhood Markets will post 0.71 EPS for the current year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, CFO Jason Warnick sold 25,000 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $20.96, for a total value of $524,000.00. Following the sale, the chief financial officer now directly owns 1,077,162 shares of the company’s stock, valued at approximately $22,577,315.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $19.26, for a total transaction of $4,815,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jason Warnick sold 25,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $20.96, for a total value of $524,000.00. Following the completion of the transaction, the chief financial officer now owns 1,077,162 shares in the company, valued at approximately $22,577,315.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,710,549 shares of company stock valued at $115,477,194 over the last 90 days. 19.95% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Robinhood Markets

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC purchased a new stake in shares of Robinhood Markets during the 1st quarter worth approximately $34,000. Quantbot Technologies LP purchased a new stake in Robinhood Markets in the first quarter valued at $521,000. Empowered Funds LLC acquired a new position in Robinhood Markets in the first quarter valued at $262,000. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Robinhood Markets during the first quarter worth about $1,610,000. Finally, Entropy Technologies LP increased its position in shares of Robinhood Markets by 87.2% during the first quarter. Entropy Technologies LP now owns 151,924 shares of the company’s stock worth $3,058,000 after purchasing an additional 70,771 shares in the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

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.