Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $38.00

Robinhood Markets (NASDAQ:HOOD) had its price objective hoisted by Keefe, Bruyette & Woods from $24.00 to $38.00 in a research report released on Friday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

HOOD has been the topic of several other research reports. JPMorgan Chase & Co. upped their target price on Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a report on Thursday, October 17th. Needham & Company LLC reissued a “buy” rating and issued a $52.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a report on Monday, December 9th. Piper Sandler boosted their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. KeyCorp increased their price target on shares of Robinhood Markets from $30.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, Sanford C. Bernstein boosted their price objective 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Robinhood Markets presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.20.

Robinhood Markets Stock Performance

NASDAQ HOOD opened at $38.33 on Friday. The stock has a market capitalization of $33.88 billion, a price-to-earnings ratio of 64.97, a PEG ratio of 0.76 and a beta of 2.09. Robinhood Markets has a 52 week low of $10.38 and a 52 week high of $43.83. The stock’s 50 day moving average price is $33.11 and its two-hundred day moving average price is $25.65.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. During the same quarter in the previous year, the company posted ($0.09) EPS. The business’s revenue for the quarter was up 36.4% compared to the same quarter last year. On average, equities research analysts forecast that Robinhood Markets will post 0.8 EPS for the current year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $22.88, for a total transaction of $5,720,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 23,293 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $23.42, for a total transaction of $545,522.06. Following the completion of the sale, the insider now owns 1,070,000 shares of the company’s stock, valued at approximately $25,059,400. The trade was a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,037,689 shares of company stock worth $177,092,487 in the last ninety days. 19.95% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. HM Payson & Co. grew its stake in 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. Eastern Bank acquired a new stake in shares of Robinhood Markets during the 3rd quarter worth approximately $30,000. True Wealth Design LLC bought a new position in Robinhood Markets in the third quarter valued at approximately $30,000. ORG Wealth Partners LLC acquired a new position in Robinhood Markets during the third quarter valued at approximately $33,000. Finally, International Assets Investment Management LLC bought a new stake in Robinhood Markets during the second quarter worth $40,000. 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.