Piper Sandler Raises Robinhood Markets (NASDAQ:HOOD) Price Target to $27.00

Robinhood Markets (NASDAQ:HOOD) had its price target increased by Piper Sandler from $23.00 to $27.00 in a research report sent to investors on Thursday, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Several other equities analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded Robinhood Markets from a hold rating to a buy rating and raised their price target for the company from $21.00 to $24.00 in a report on Thursday, August 15th. JPMorgan Chase & Co. raised their price target on Robinhood Markets from $16.00 to $17.00 and gave the company an underweight rating in a report on Thursday, August 8th. Keefe, Bruyette & Woods reduced their target price on Robinhood Markets from $23.00 to $22.00 and set a market perform rating on the stock in a report on Thursday, August 8th. Morgan Stanley raised their target price on Robinhood Markets from $20.00 to $21.00 and gave the stock an equal weight rating in a report on Wednesday, August 14th. Finally, Citigroup upgraded Robinhood Markets from a sell rating to a neutral rating and set a $18.00 target price on the stock in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Robinhood Markets currently has an average rating of Hold and a consensus target price of $23.10.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $22.73 on Thursday. Robinhood Markets has a twelve month low of $7.91 and a twelve month high of $24.88. The firm has a market cap of $19.98 billion, a PE ratio of 151.53 and a beta of 1.82. The business has a fifty day moving average of $20.59 and a 200-day moving average of $19.98.

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

Insider Activity

In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $22.80, for a total transaction of $285,000.00. Following the transaction, the insider now owns 956,247 shares in the company, valued at approximately $21,802,431.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $22.80, for a total value of $285,000.00. Following the sale, the insider now owns 956,247 shares of the company’s stock, valued at approximately $21,802,431.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jason Warnick sold 25,000 shares of Robinhood Markets stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $20.96, for a total value of $524,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,077,162 shares in the company, valued at approximately $22,577,315.52. The disclosure for this sale can be found here. Insiders have sold 1,204,096 shares of company stock worth $23,603,793 in the last 90 days. Corporate insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

A number of hedge funds and other institutional investors have recently bought and sold shares of HOOD. Angeles Wealth Management LLC increased its position in shares of Robinhood Markets by 5.3% during the 1st quarter. Angeles Wealth Management LLC now owns 12,207 shares of the company’s stock worth $246,000 after purchasing an additional 610 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Robinhood Markets by 44.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,290 shares of the company’s stock worth $52,000 after purchasing an additional 710 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Robinhood Markets by 46.5% during 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 last quarter. Commerce Bank increased its position in shares of Robinhood Markets by 7.9% during the 4th quarter. Commerce Bank now owns 12,459 shares of the company’s stock worth $159,000 after purchasing an additional 917 shares during the last quarter. Finally, Whittier Trust Co. increased its position in shares of Robinhood Markets by 25.8% during the 1st quarter. Whittier Trust Co. now owns 5,828 shares of the company’s stock worth $117,000 after purchasing an additional 1,194 shares during the last quarter. 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.