Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $27.00

Robinhood Markets (NASDAQ:HOOD) had its price objective increased by Deutsche Bank Aktiengesellschaft from $24.00 to $27.00 in a research report report published on Monday, Benzinga reports. The brokerage currently has a buy rating on the stock.

HOOD has been the subject of a number of other research reports. JPMorgan Chase & Co. boosted their price target on shares of Robinhood Markets from $16.00 to $17.00 and gave the company an underweight rating in a research note on Thursday, August 8th. Barclays upgraded shares of Robinhood Markets from an underweight rating to an equal weight rating and upped their target price for the stock from $18.00 to $20.00 in a report on Friday, September 6th. KeyCorp lifted their price target on Robinhood Markets from $23.00 to $25.00 and gave the company an overweight rating in a research note on Friday, July 19th. The Goldman Sachs Group boosted their price objective on Robinhood Markets from $19.00 to $21.00 and gave the stock a neutral rating in a report on Thursday, July 11th. Finally, Needham & Company LLC restated a hold rating on shares of Robinhood Markets in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Hold and an average price target of $23.63.

Robinhood Markets Trading Up 1.3 %

Shares of NASDAQ HOOD opened at $22.63 on Monday. The firm has a market capitalization of $19.89 billion, a P/E ratio of 150.87 and a beta of 1.82. The firm’s 50-day moving average price is $20.50 and its 200-day moving average price is $20.30. Robinhood Markets has a 1-year low of $7.91 and a 1-year high of $24.88.

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

Insider Activity at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 23,293 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $23.42, for a total value of $545,522.06. Following the transaction, the insider now directly owns 1,070,000 shares in the company, valued at $25,059,400. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 23,293 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $23.42, for a total value of $545,522.06. Following the completion of the sale, the insider now directly owns 1,070,000 shares of the company’s stock, valued at $25,059,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $22.50, for a total value of $5,625,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,214,889 shares of company stock worth $23,864,315. 19.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Robinhood Markets

Large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Robinhood Markets by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock valued at $1,143,960,000 after buying an additional 1,003,535 shares in the last quarter. Banque Cantonale Vaudoise grew its position in shares of Robinhood Markets by 21,404.0% in the first quarter. Banque Cantonale Vaudoise now owns 96,768 shares of the company’s stock valued at $1,948,000 after purchasing an additional 96,318 shares in the last quarter. UniSuper Management Pty Ltd raised its stake in shares of Robinhood Markets by 87.1% during the 1st quarter. UniSuper Management Pty Ltd now owns 5,800 shares of the company’s stock valued at $117,000 after purchasing an additional 2,700 shares during the period. Wellington Management Group LLP purchased a new stake in Robinhood Markets during the 4th quarter worth about $8,299,000. Finally, O Neil Global Advisors Inc. bought a new position in Robinhood Markets in the 2nd quarter worth about $2,298,000. 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.