Robinhood Markets, Inc. (NASDAQ:HOOD) Receives $22.70 Average PT from Brokerages

Robinhood Markets, Inc. (NASDAQ:HOOD) has been given a consensus rating of “Hold” by the sixteen research firms that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $22.70.

Several equities analysts have recently commented on HOOD shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Robinhood Markets in a report on Thursday, August 8th. Morgan Stanley increased their target price on Robinhood Markets from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 14th. The Goldman Sachs Group boosted their price target on shares of Robinhood Markets from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. JMP Securities restated a “market outperform” rating and set a $30.00 price target on shares of Robinhood Markets in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Robinhood Markets from $16.00 to $17.00 and gave the company an “underweight” rating in a research report on Thursday, August 8th.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $19.67 on Tuesday. Robinhood Markets has a 12 month low of $7.91 and a 12 month high of $24.88. The company has a fifty day moving average price of $20.82 and a two-hundred day moving average price of $19.47. The company has a market cap of $17.29 billion, a PE ratio of 131.13 and a beta of 1.83.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.16 by $0.05. The business had revenue of $682.00 million during the quarter, compared to analyst estimates of $640.39 million. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The company’s quarterly revenue was up 40.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.03 EPS. Equities research analysts anticipate that Robinhood Markets will post 0.76 earnings per share for the current year.

Insider Buying and Selling at Robinhood Markets

In other news, Director Baiju Bhatt sold 121,226 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $21.63, for a total value of $2,622,118.38. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Baiju Bhatt sold 121,226 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $21.63, for a total transaction of $2,622,118.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total transaction of $241,625.00. Following the completion of the sale, the insider now owns 1,045,068 shares in the company, valued at $20,201,164.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 935,406 shares of company stock valued at $18,675,554. 19.95% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently modified their holdings of the stock. Spire Wealth Management acquired a new position in shares of Robinhood Markets in the fourth quarter worth about $26,000. PNC Financial Services Group Inc. boosted its stake in Robinhood Markets by 46.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after purchasing an additional 722 shares during the period. ORG Partners LLC purchased a new position in Robinhood Markets during the 2nd quarter worth approximately $33,000. Allspring Global Investments Holdings LLC acquired a new stake in Robinhood Markets during the 1st quarter valued at $34,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Robinhood Markets in the second quarter valued at $40,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

About Robinhood Markets

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.