The Goldman Sachs Group Forecasts Strong Price Appreciation for Robinhood Markets (NASDAQ:HOOD) Stock

Robinhood Markets (NASDAQ:HOOD) had its price objective boosted by analysts at The Goldman Sachs Group from $25.00 to $40.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 3.52% from the stock’s current price.

A number of other equities analysts also recently commented on HOOD. JPMorgan Chase & Co. raised their price objective on shares of Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a report on Thursday, October 17th. Sanford C. Bernstein boosted their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Robinhood Markets from $27.00 to $32.00 and gave the company a “buy” rating in a report on Monday, November 11th. Piper Sandler lifted their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Bank of America lifted their price target on shares of Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.60.

Robinhood Markets Trading Up 2.7 %

NASDAQ HOOD opened at $38.64 on Monday. The company has a fifty day simple moving average of $28.73 and a 200 day simple moving average of $23.84. The company has a market cap 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). The company had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. Robinhood Markets’s revenue for the quarter was up 36.4% on a year-over-year basis. During the same period last year, the company earned ($0.09) earnings per share. Equities research analysts forecast that Robinhood Markets will post 0.74 EPS for the current fiscal year.

Insider Activity at Robinhood Markets

In other news, Director Baiju Bhatt sold 139,916 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $19.55, for a total transaction of $2,735,357.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven M. Quirk sold 19,861 shares of Robinhood Markets 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 completion of the sale, the insider now directly owns 395,166 shares of the company’s stock, valued at approximately $14,834,531.64. The trade was a 4.79 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,442,910 shares of company stock worth $110,642,151. Corporate insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

A number of hedge funds have recently made changes to their positions in the business. HM Payson & Co. raised its stake in Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after acquiring an additional 410 shares during the period. Eastern Bank bought a new stake in Robinhood Markets in the 3rd quarter worth approximately $30,000. True Wealth Design LLC bought a new stake in Robinhood Markets in the 3rd quarter worth approximately $30,000. ORG Partners LLC bought a new stake in Robinhood Markets in the second quarter valued at approximately $33,000. Finally, ORG Wealth Partners LLC bought a new stake in Robinhood Markets in the third quarter valued at approximately $33,000. 93.27% of the stock is currently 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.