Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $40.00

Robinhood Markets (NASDAQ:HOOD) had its price target lifted by The Goldman Sachs Group from $25.00 to $40.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research analysts have also commented on HOOD. JMP Securities increased their price objective on Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a report on Tuesday, November 12th. Citigroup increased their price objective on Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, September 27th. Sanford C. Bernstein increased their target price on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. KeyCorp increased their target price on Robinhood Markets from $25.00 to $30.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Finally, Morgan Stanley upgraded Robinhood Markets from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $24.00 to $55.00 in a research note on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.60.

Robinhood Markets Price Performance

Shares of HOOD stock opened at $40.00 on Monday. Robinhood Markets has a fifty-two week low of $9.66 and a fifty-two week high of $40.57. The stock’s 50-day moving average is $29.05 and its two-hundred day moving average is $23.97. The firm has a market cap of $35.36 billion, a P/E ratio of 65.10, a PEG ratio of 0.87 and a beta of 2.09.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 21.80% and a return on equity of 7.52%. The business’s revenue was up 36.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.09) EPS. As a group, research analysts expect that Robinhood Markets will post 0.74 EPS for the current year.

Insiders Place Their Bets

In other news, insider Steven M. Quirk sold 19,861 shares of the stock in a transaction that occurred on Sunday, December 1st. The stock was sold at an average price of $37.54, for a total value of $745,581.94. Following the completion of the transaction, the insider now directly owns 395,166 shares of the company’s stock, valued at approximately $14,834,531.64. This represents a 4.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 1,057,500 shares of the company’s stock, valued at approximately $23,656,275. The trade was a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,442,910 shares of company stock worth $110,642,151. 19.95% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Robinhood Markets

A number of hedge funds and other institutional investors have recently bought and sold shares of HOOD. HM Payson & Co. increased its holdings in Robinhood Markets by 53.5% during the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after purchasing an additional 410 shares in the last quarter. Eastern Bank acquired a new stake in Robinhood Markets during the 3rd quarter valued at $30,000. True Wealth Design LLC acquired a new stake in Robinhood Markets during the 3rd quarter valued at $30,000. ORG Partners LLC acquired a new stake in Robinhood Markets during the 2nd quarter valued at $33,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of Robinhood Markets in the 3rd quarter valued at $33,000. 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.