Robinhood Markets (NASDAQ:HOOD) Price Target Increased to $30.00 by Analysts at Piper Sandler

Robinhood Markets (NASDAQ:HOOD) had its price objective increased by Piper Sandler from $27.00 to $30.00 in a report published on Monday, Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts also recently issued research reports about the company. Needham & Company LLC reiterated a “hold” rating on shares of Robinhood Markets in a research report on Thursday, August 8th. JPMorgan Chase & Co. lifted their price objective on Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a research report on Thursday, October 17th. KeyCorp lifted their price objective on Robinhood Markets from $25.00 to $30.00 and gave the company an “overweight” rating in a research report on Monday. Citigroup lifted their price objective on Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a research report on Friday, September 27th. Finally, Wolfe Research upgraded Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 target price for the company in a research report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Robinhood Markets presently has a consensus rating of “Hold” and an average target price of $24.97.

Robinhood Markets Price Performance

Shares of HOOD stock opened at $27.22 on Monday. The stock’s fifty day simple moving average is $22.70 and its 200 day simple moving average is $21.06. The firm has a market cap of $23.92 billion, a price-to-earnings ratio of 181.47 and a beta of 1.84. Robinhood Markets has a one year low of $7.91 and a one year high of $27.60.

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

Insider Buying and Selling

In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total transaction of $241,625.00. Following the completion of the sale, the insider now directly owns 1,045,068 shares of the company’s stock, valued at $20,201,164.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Robinhood Markets news, Director Baiju Bhatt sold 98,404 shares of the business’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $26.40, for a total value of $2,597,865.60. Following the completion of the transaction, the director now directly owns 2,521 shares of the company’s stock, valued at approximately $66,554.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $19.33, for a total value of $241,625.00. Following the completion of the transaction, the insider now directly owns 1,045,068 shares of the company’s stock, valued at approximately $20,201,164.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,639,654 shares of company stock valued at $110,241,632 over the last three months. Company insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Eastern Bank acquired a new position in Robinhood Markets in the third quarter valued at about $30,000. ORG Wealth Partners LLC acquired a new position in Robinhood Markets in the third quarter valued at about $33,000. ORG Partners LLC acquired a new position in shares of Robinhood Markets during the second quarter worth about $33,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Robinhood Markets during the first quarter worth about $34,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Robinhood Markets during the second quarter worth about $40,000. 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.