Robinhood Markets (NASDAQ:HOOD) Upgraded to “Buy” at The Goldman Sachs Group

Robinhood Markets (NASDAQ:HOOD) was upgraded by The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday, MarketBeat Ratings reports. The firm presently has a $46.00 target price on the stock, up from their previous target price of $40.00. The Goldman Sachs Group’s price objective indicates a potential upside of 10.39% from the stock’s current price.

Several other research analysts also recently weighed in on HOOD. JPMorgan Chase & Co. boosted their target price on shares of Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a research note on Thursday, October 17th. JMP Securities boosted their target price 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. Piper Sandler boosted their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday. Finally, KeyCorp upped their price objective on shares of Robinhood Markets from $30.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and an average target price of $35.80.

Robinhood Markets Stock Up 7.1 %

NASDAQ:HOOD opened at $41.67 on Friday. The stock has a fifty day simple moving average of $30.09 and a 200-day simple moving average of $24.33. Robinhood Markets has a 52-week low of $10.38 and a 52-week high of $42.76. The company has a market capitalization of $36.84 billion, a PE ratio of 70.63, a price-to-earnings-growth ratio of 0.93 and a beta of 2.09.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The firm had revenue of $637.00 million during the quarter, compared to analyst estimates of $660.53 million. During the same period in the previous year, the firm posted ($0.09) EPS. The company’s revenue for the quarter was up 36.4% compared to the same quarter last year. As a group, equities analysts anticipate that Robinhood Markets will post 0.77 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $22.88, for a total value of $5,720,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Baiju Bhatt sold 139,916 shares of the company’s stock in a transaction that occurred 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. In the last quarter, insiders sold 5,991,091 shares of company stock worth $172,716,066. 19.95% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Robinhood Markets

A number of institutional investors and hedge funds have recently bought and sold shares of HOOD. HM Payson & Co. boosted its holdings in Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after acquiring an additional 410 shares during the period. Eastern Bank purchased a new position in Robinhood Markets in the 3rd quarter worth approximately $30,000. True Wealth Design LLC purchased a new position in Robinhood Markets in the 3rd quarter worth approximately $30,000. ORG Partners LLC purchased a new position in Robinhood Markets in the 2nd quarter worth approximately $33,000. Finally, ORG Wealth Partners LLC purchased a new position in Robinhood Markets in the 3rd quarter worth approximately $33,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.