Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $20.00

Robinhood Markets (NASDAQ:HOOD) had its price target lifted by research analysts at Deutsche Bank Aktiengesellschaft from $19.00 to $20.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential downside of 8.51% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. The Goldman Sachs Group lifted their target price on Robinhood Markets from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, April 15th. Barclays lifted their target price on Robinhood Markets from $16.00 to $18.00 and gave the stock an “underweight” rating in a report on Thursday, May 9th. Morgan Stanley raised their price target on Robinhood Markets from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Friday, May 10th. Bank of America upgraded Robinhood Markets from an “underperform” rating to a “buy” rating and raised their price target for the stock from $14.00 to $24.00 in a research report on Friday, May 17th. Finally, Piper Sandler raised their price target on Robinhood Markets from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $20.18.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock opened at $21.86 on Thursday. The business has a fifty day simple moving average of $19.35 and a two-hundred day simple moving average of $15.87. Robinhood Markets has a 1 year low of $7.91 and a 1 year high of $24.28. The company has a market capitalization of $19.21 billion, a price-to-earnings ratio of 145.73 and a beta of 1.83.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, May 8th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.13. Robinhood Markets had a return on equity of 1.86% and a net margin of 6.22%. The company had revenue of $618.00 million during the quarter, compared to the consensus estimate of $552.74 million. During the same quarter last year, the firm earned ($0.57) earnings per share. The company’s revenue was up 40.1% on a year-over-year basis. As a group, equities analysts anticipate that Robinhood Markets will post 0.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 116,669 shares of Robinhood Markets stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $22.02, for a total value of $2,569,051.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Baiju Bhatt sold 116,669 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $22.02, for a total transaction of $2,569,051.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $21.03, for a total value of $5,257,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,365,507 shares of company stock worth $25,995,973 over the last 90 days. Insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

Hedge funds and other institutional investors have recently made changes to their positions in the company. Seven Eight Capital LP bought a new stake in shares of Robinhood Markets during the third quarter worth about $131,000. Gulf International Bank UK Ltd acquired a new position in shares of Robinhood Markets in the fourth quarter worth approximately $764,000. Deutsche Bank AG lifted its stake in shares of Robinhood Markets by 674.6% in the third quarter. Deutsche Bank AG now owns 373,183 shares of the company’s stock worth $3,661,000 after acquiring an additional 325,007 shares during the period. Strs Ohio acquired a new position in shares of Robinhood Markets in the fourth quarter worth approximately $750,000. Finally, Oak Thistle LLC lifted its stake in Robinhood Markets by 131.6% in the fourth quarter. Oak Thistle LLC now owns 105,295 shares of the company’s stock valued at $1,341,000 after buying an additional 59,834 shares during the period. 93.27% of the stock is currently owned by 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.