Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $45.00

Robinhood Markets (NASDAQ:HOOD) had its price objective raised by Citigroup from $25.00 to $45.00 in a research note published on Friday morning,Benzinga reports. Citigroup currently has a neutral rating on the stock.

Other research analysts also recently issued research reports about the stock. Barclays raised shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $26.00 to $49.00 in a report on Monday, December 9th. JPMorgan Chase & Co. raised Robinhood Markets from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $20.00 to $43.00 in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their target price on Robinhood Markets from $24.00 to $38.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Morgan Stanley upgraded Robinhood Markets from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $24.00 to $55.00 in a research report on Monday, November 25th. Finally, Sanford C. Bernstein boosted their price objective on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $42.13.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $40.08 on Friday. The firm has a market cap of $35.43 billion, a price-to-earnings ratio of 67.93, a P/E/G ratio of 0.81 and a beta of 2.07. The firm has a fifty day moving average price of $36.99 and a 200 day moving average price of $27.49. Robinhood Markets has a fifty-two week low of $10.38 and a fifty-two week high of $43.83.

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

Insider Activity at Robinhood Markets

In other news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction on Monday, November 4th. The stock was sold at an average price of $24.21, for a total value of $6,052,500.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Baiju Bhatt sold 98,404 shares of the company’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $26.40, for a total value of $2,597,865.60. Following the sale, the director now owns 2,521 shares of the company’s stock, valued at $66,554.40. This trade represents a 97.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,708,196 shares of company stock worth $138,845,043. Company insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. HM Payson & Co. lifted 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. Eastern Bank purchased a new stake in Robinhood Markets in the third quarter valued at about $30,000. True Wealth Design LLC acquired a new stake in Robinhood Markets in the third quarter worth about $30,000. ORG Wealth Partners LLC purchased a new stake in shares of Robinhood Markets during the third quarter worth about $33,000. Finally, Connective Portfolio Management LLC acquired a new position in shares of Robinhood Markets during the third quarter valued at about $47,000. 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.