Robinhood Markets (NASDAQ:HOOD) Given New $38.00 Price Target at Keefe, Bruyette & Woods

Robinhood Markets (NASDAQ:HOOD) had its price target hoisted by equities research analysts at Keefe, Bruyette & Woods from $24.00 to $38.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 2.87% from the company’s previous close.

Other analysts have also issued reports about the company. Piper Sandler raised their target price on Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their target price for the company from $40.00 to $46.00 in a report on Friday, December 6th. JPMorgan Chase & Co. increased their price target on shares of Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a report on Thursday, October 17th. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a research report on Monday, December 9th. Finally, Morgan Stanley upgraded Robinhood Markets from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $24.00 to $55.00 in a research report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $39.20.

Robinhood Markets Stock Down 0.4 %

Shares of NASDAQ HOOD opened at $36.94 on Friday. Robinhood Markets has a 52 week low of $10.38 and a 52 week high of $43.83. The business’s 50 day moving average price is $32.87 and its 200 day moving average price is $25.50. The firm has a market cap of $32.65 billion, a P/E ratio of 62.61, a P/E/G ratio of 0.76 and a beta of 2.09.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $660.53 million. During the same period last year, the business earned ($0.09) EPS. The company’s revenue for the quarter was up 36.4% on a year-over-year basis. As a group, research analysts expect that Robinhood Markets will post 0.8 earnings per share for the current year.

Insider Activity at Robinhood Markets

In related news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $22.88, for a total value of $5,720,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $22.37, for a total value of $279,625.00. Following the sale, the insider now directly owns 1,057,500 shares of the company’s stock, valued at approximately $23,656,275. This trade represents a 1.17 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,037,689 shares of company stock valued at $177,092,487. Corporate insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

Hedge funds and other institutional investors have recently modified their holdings of the business. HM Payson & Co. boosted its position in shares of Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after buying an additional 410 shares during the period. Commerce Bank boosted its holdings in Robinhood Markets by 3.3% during the 3rd quarter. Commerce Bank now owns 13,245 shares of the company’s stock valued at $310,000 after acquiring an additional 423 shares during the period. Signaturefd LLC increased its stake in Robinhood Markets by 16.5% during the third quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock worth $80,000 after purchasing an additional 487 shares during the period. Castleview Partners LLC lifted its position in shares of Robinhood Markets by 18.2% during the third quarter. Castleview Partners LLC now owns 3,788 shares of the company’s stock worth $89,000 after purchasing an additional 582 shares in the last quarter. Finally, Axxcess Wealth Management LLC boosted its stake in shares of Robinhood Markets by 3.1% in the third quarter. Axxcess Wealth Management LLC now owns 19,773 shares of the company’s stock valued at $463,000 after purchasing an additional 598 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

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.