Robinhood Markets, Inc. (NASDAQ:HOOD) Receives $39.20 Average Target Price from Analysts

Robinhood Markets, Inc. (NASDAQ:HOOD) has earned an average recommendation of “Moderate Buy” from the fifteen research firms that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $40.67.

Several research firms have issued reports on HOOD. Morgan Stanley upgraded Robinhood Markets from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $24.00 to $55.00 in a research note on Monday, November 25th. KeyCorp increased their price target on Robinhood Markets from $30.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. JMP Securities lifted their price objective on shares of Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a research report on Tuesday, November 12th. The Goldman Sachs Group upgraded shares of Robinhood Markets from a “neutral” rating to a “buy” rating and upped their price objective for the company from $40.00 to $46.00 in a report on Friday, December 6th. Finally, Needham & Company LLC restated a “buy” rating and set a $52.00 target price (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, December 9th.

Insider Activity

In other news, Director Meyer Malka sold 1,535,681 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $40.11, for a total transaction of $61,596,164.91. Following the completion of the sale, the director now owns 4,974,238 shares of the company’s stock, valued at approximately $199,516,686.18. This represents a 23.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $24.21, for a total transaction of $6,052,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,708,196 shares of company stock worth $138,845,043. Corporate insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. HM Payson & Co. grew its holdings in shares of Robinhood Markets by 53.5% during the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after purchasing an additional 410 shares during the last quarter. Commerce Bank boosted its position in Robinhood Markets by 3.3% in the third quarter. Commerce Bank now owns 13,245 shares of the company’s stock valued at $310,000 after buying an additional 423 shares in the last quarter. Signaturefd LLC grew its stake in shares of Robinhood Markets by 16.5% during the third quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock worth $80,000 after buying an additional 487 shares during the last quarter. Castleview Partners LLC grew its stake in shares of Robinhood Markets by 18.2% during the third quarter. Castleview Partners LLC now owns 3,788 shares of the company’s stock worth $89,000 after buying an additional 582 shares during the last quarter. Finally, Axxcess Wealth Management LLC increased its holdings in shares of Robinhood Markets by 3.1% during the third quarter. Axxcess Wealth Management LLC now owns 19,773 shares of the company’s stock worth $463,000 after buying an additional 598 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Stock Performance

NASDAQ:HOOD opened at $40.81 on Monday. Robinhood Markets has a 52-week low of $10.38 and a 52-week high of $43.83. The company has a market cap of $36.08 billion, a P/E ratio of 69.17, a P/E/G ratio of 0.81 and a beta of 2.07. The stock’s 50-day simple moving average is $36.32 and its 200 day simple moving average is $27.20.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data 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 return on equity of 7.52% and a net margin of 21.80%. The firm had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. The firm’s revenue for the quarter was up 36.4% on a year-over-year basis. As a group, equities analysts predict that Robinhood Markets will post 0.8 earnings per share for the current fiscal year.

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.