Robinhood Markets (NASDAQ:HOOD) Stock Price Expected to Rise, KeyCorp Analyst Says

Robinhood Markets (NASDAQ:HOOD) had its price objective upped by equities researchers at KeyCorp from $57.00 to $75.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price objective indicates a potential upside of 19.35% from the stock’s current price.

HOOD has been the topic of several other reports. Sanford C. Bernstein boosted their price objective on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Morgan Stanley boosted their price target on Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft raised their price objective on Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Piper Sandler boosted 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. Finally, The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and increased their price target for the company from $40.00 to $46.00 in a research note on Friday, December 6th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $54.73.

Robinhood Markets Stock Performance

NASDAQ HOOD traded up $6.93 during trading hours on Thursday, hitting $62.84. 40,117,597 shares of the company traded hands, compared to its average volume of 22,420,699. The business’s 50-day moving average is $44.48 and its 200-day moving average is $31.90. The stock has a market capitalization of $55.55 billion, a price-to-earnings ratio of 106.78, a P/E/G ratio of 0.73 and a beta of 2.13. Robinhood Markets has a twelve month low of $12.77 and a twelve month high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. Analysts predict that Robinhood Markets will post 0.97 EPS for the current year.

Insider Buying and Selling

In other Robinhood Markets news, Director Baiju Bhatt sold 90,866 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $55.34, for a total transaction of $5,028,524.44. Following the transaction, the director now owns 5,042 shares in the company, valued at $279,024.28. This trade represents a 94.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $51.60, for a total value of $1,290,000.00. Following the completion of the transaction, the insider now directly owns 706,642 shares of the company’s stock, valued at $36,462,727.20. This represents a 3.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,948,427 shares of company stock valued at $165,005,244. 19.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Robinhood Markets

Several hedge funds have recently bought and sold shares of HOOD. Cerity Partners LLC lifted its holdings in shares of Robinhood Markets by 607.9% during the 4th quarter. Cerity Partners LLC now owns 761,887 shares of the company’s stock worth $28,258,000 after acquiring an additional 654,258 shares during the period. FMR LLC raised its position in Robinhood Markets by 184.8% during the fourth quarter. FMR LLC now owns 40,237,478 shares of the company’s stock valued at $1,499,248,000 after purchasing an additional 26,107,934 shares in the last quarter. Federated Hermes Inc. raised its position in Robinhood Markets by 4.7% during the fourth quarter. Federated Hermes Inc. now owns 30,386 shares of the company’s stock valued at $1,132,000 after purchasing an additional 1,356 shares in the last quarter. MIG Capital LLC bought a new stake in Robinhood Markets during the fourth quarter worth $339,000. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Robinhood Markets by 43.8% in the 4th quarter. Russell Investments Group Ltd. now owns 1,124,276 shares of the company’s stock valued at $41,891,000 after purchasing an additional 342,350 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

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.