Brokerages Set Robinhood Markets, Inc. (NASDAQ:HOOD) Target Price at $26.10

Robinhood Markets, Inc. (NASDAQ:HOOD) has been given an average rating of “Moderate Buy” by the sixteen analysts that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $27.34.

A number of research firms have weighed in on HOOD. Piper Sandler increased their price objective on Robinhood Markets from $30.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday. Keefe, Bruyette & Woods lowered their price objective on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. JMP Securities boosted their price objective on shares of Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a research note on Tuesday, November 12th. Bank of America raised their target price on shares of Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, KeyCorp boosted their price target on shares of Robinhood Markets from $25.00 to $30.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st.

Insider Buying and Selling

In other 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 in the company, valued at $22,577,315.52. This represents a 2.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $19.26, for a total value of $4,815,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,710,549 shares of company stock valued at $115,477,194. 19.95% of the stock is owned by insiders.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds have recently bought and sold shares of the stock. HM Payson & Co. grew its holdings in shares of Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after buying an additional 410 shares in the last quarter. True Wealth Design LLC purchased a new stake in Robinhood Markets in the 3rd quarter valued at about $30,000. Eastern Bank acquired a new position in shares of Robinhood Markets during the 3rd quarter valued at about $30,000. ORG Wealth Partners LLC purchased a new position in shares of Robinhood Markets during the 3rd quarter worth about $33,000. Finally, ORG Partners LLC acquired a new stake in shares of Robinhood Markets in the second quarter worth approximately $33,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Price Performance

HOOD stock opened at $35.24 on Friday. Robinhood Markets has a 12 month low of $7.96 and a 12 month high of $36.32. The company has a market cap of $31.15 billion, a price-to-earnings ratio of 59.73, a price-to-earnings-growth ratio of 0.77 and a beta of 1.84. The company has a fifty day moving average price of $26.09 and a 200 day moving average price of $22.62.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The business had revenue of $637.00 million during the quarter, compared to analysts’ expectations of $660.53 million. During the same period in the previous year, the company posted ($0.09) earnings per share. Robinhood Markets’s quarterly revenue was up 36.4% on a year-over-year basis. As a group, analysts anticipate that Robinhood Markets will post 0.72 earnings per share for the current year.

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.