Robinhood Markets (NASDAQ:HOOD) Upgraded by The Goldman Sachs Group to Buy Rating

Robinhood Markets (NASDAQ:HOOD) was upgraded by analysts at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. The firm currently has a $46.00 price target on the stock, up from their prior price target of $40.00. The Goldman Sachs Group’s price objective suggests a potential upside of 18.19% from the company’s previous close.

A number of other research firms also recently issued reports on HOOD. Morgan Stanley upgraded shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $24.00 to $55.00 in a research report on Monday, November 25th. Sanford C. Bernstein boosted their target price 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. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday. Needham & Company LLC upgraded shares of Robinhood Markets from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Monday, November 18th. Finally, KeyCorp boosted their target price on shares of Robinhood Markets from $30.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.80.

Robinhood Markets Trading Down 2.7 %

NASDAQ:HOOD opened at $38.92 on Friday. Robinhood Markets has a 12 month low of $10.38 and a 12 month high of $42.76. The firm has a fifty day simple moving average of $29.40 and a 200-day simple moving average of $24.09. The company has a market capitalization of $34.40 billion, a P/E ratio of 65.97, a PEG ratio of 0.90 and a beta of 2.09.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). The company had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The company’s quarterly revenue was up 36.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. Equities analysts forecast that Robinhood Markets will post 0.74 EPS for the current year.

Insider Transactions at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $38.22, for a total transaction of $477,750.00. Following the completion of the sale, the insider now owns 1,106,955 shares of the company’s stock, valued at $42,307,820.10. The trade was a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Steven M. Quirk sold 19,861 shares of the business’s stock in a transaction dated Sunday, December 1st. The stock was sold at an average price of $37.54, for a total transaction of $745,581.94. Following the transaction, the insider now owns 395,166 shares in the company, valued at $14,834,531.64. The trade was a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,455,410 shares of company stock valued at $111,119,901 over the last 90 days. Corporate insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. acquired a new position in Robinhood Markets during the third quarter worth about $6,321,000. Wilmington Savings Fund Society FSB acquired a new position in Robinhood Markets during the third quarter worth about $351,000. Sanctuary Advisors LLC boosted its position in Robinhood Markets by 44.1% during the third quarter. Sanctuary Advisors LLC now owns 63,216 shares of the company’s stock worth $1,481,000 after acquiring an additional 19,345 shares during the last quarter. Toronto Dominion Bank boosted its position in Robinhood Markets by 31.1% during the third quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock worth $1,602,000 after acquiring an additional 16,219 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Robinhood Markets by 19.5% in the 3rd quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock valued at $271,708,000 after purchasing an additional 1,895,427 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.