Piper Sandler Issues Positive Forecast for Robinhood Markets (NASDAQ:HOOD) Stock Price

Robinhood Markets (NASDAQ:HOOD) had its target price lifted by analysts at Piper Sandler from $36.00 to $42.00 in a report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s target price suggests a potential upside of 8.70% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Citigroup boosted their price target on Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. Morgan Stanley raised Robinhood Markets from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $24.00 to $55.00 in a report on Monday, November 25th. Sanford C. Bernstein increased their target price on Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Keefe, Bruyette & Woods reduced their target price on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. Finally, Needham & Company LLC upgraded shares of Robinhood Markets from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $33.60.

Robinhood Markets Trading Up 2.7 %

Shares of HOOD opened at $38.64 on Monday. The business’s 50-day moving average price is $28.73 and its 200 day moving average price is $23.84. The stock has a market capitalization of $34.16 billion, a P/E ratio of 65.49, a P/E/G ratio of 0.87 and a beta of 2.09. Robinhood Markets has a 1-year low of $9.33 and a 1-year high of $39.74.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The company had revenue of $637.00 million during the quarter, compared to analysts’ expectations of $660.53 million. During the same period in the prior year, the business posted ($0.09) EPS. The company’s revenue for the quarter was up 36.4% compared to the same quarter last year. On average, research analysts predict that Robinhood Markets will post 0.74 earnings per share for the current year.

Insider Activity

In related news, insider Steven M. Quirk sold 19,861 shares of the stock in a transaction on Sunday, December 1st. The shares were sold at an average price of $37.54, for a total transaction of $745,581.94. Following the transaction, the insider now directly owns 395,166 shares of the company’s stock, valued at $14,834,531.64. This represents a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Meyer Malka sold 3,225,806 shares of the stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $25.07, for a total transaction of $80,870,956.42. Following the transaction, the director now directly owns 29,357,336 shares in the company, valued at approximately $735,988,413.52. This represents a 9.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,442,910 shares of company stock valued at $110,642,151. 19.95% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its stake in shares of Robinhood Markets by 1,211,858.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock valued at $89,410,000 after buying an additional 3,817,355 shares in the last quarter. Azora Capital LP bought a new position in shares of Robinhood Markets in the third quarter valued at $79,780,000. FMR LLC lifted its stake in shares of Robinhood Markets by 31.3% in the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after buying an additional 3,368,118 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Robinhood Markets by 37.7% in the second quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock valued at $173,770,000 after buying an additional 2,094,800 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Robinhood Markets by 19.5% in the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock valued at $271,708,000 after buying an additional 1,895,427 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

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.