Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $27.00 at Piper Sandler

Robinhood Markets (NASDAQ:HOOD) had its price target boosted by investment analysts at Piper Sandler from $23.00 to $27.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective points to a potential upside of 17.65% from the company’s previous close.

Several other research analysts have also issued reports on the company. JPMorgan Chase & Co. increased their price objective on Robinhood Markets from $16.00 to $17.00 and gave the stock an “underweight” rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Robinhood Markets from a “hold” rating to a “buy” rating and increased their target price for the stock from $21.00 to $24.00 in a research report on Thursday, August 15th. Citigroup upgraded shares of Robinhood Markets from a “sell” rating to a “neutral” rating and set a $18.00 price target on the stock in a research report on Monday, August 5th. Bank of America raised their price objective on shares of Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, Wolfe Research raised Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 target price on the stock in a report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Robinhood Markets presently has a consensus rating of “Hold” and an average price target of $23.10.

Robinhood Markets Stock Performance

Shares of Robinhood Markets stock opened at $22.95 on Thursday. The firm has a market cap of $20.17 billion, a P/E ratio of 153.00 and a beta of 1.82. The firm’s 50-day simple moving average is $20.55 and its 200-day simple moving average is $19.86. Robinhood Markets has a twelve month low of $7.91 and a twelve month high of $24.88.

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, beating analysts’ consensus estimates of $0.16 by $0.05. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. The company had revenue of $682.00 million for the quarter, compared to the consensus estimate of $640.39 million. During the same period in the previous year, the business earned $0.03 earnings per share. The company’s quarterly revenue was up 40.3% on a year-over-year basis. On average, equities analysts forecast that Robinhood Markets will post 0.76 earnings per share for the current fiscal year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 139,916 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $19.55, for a total transaction of $2,735,357.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $22.80, for a total value of $285,000.00. Following the transaction, the insider now directly owns 956,247 shares in the company, valued at approximately $21,802,431.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Baiju Bhatt sold 139,916 shares of Robinhood Markets stock in a transaction on Monday, September 9th. The stock was sold at an average price of $19.55, for a total value of $2,735,357.80. The disclosure for this sale can be found here. Insiders have sold a total of 1,204,096 shares of company stock worth $23,603,793 over the last 90 days. Insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Several institutional investors have recently modified their holdings of HOOD. PNC Financial Services Group Inc. raised its position in shares of Robinhood Markets by 46.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after acquiring an additional 722 shares during the period. ORG Partners LLC acquired a new stake in Robinhood Markets in the second quarter worth $33,000. Allspring Global Investments Holdings LLC acquired a new stake in Robinhood Markets in the first quarter worth $34,000. International Assets Investment Management LLC acquired a new position in shares of Robinhood Markets in the 2nd quarter valued at $40,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Robinhood Markets during the 2nd quarter worth $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.