Robinhood Markets (NASDAQ:HOOD) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Robinhood Markets (NASDAQ:HOOD) had its target price raised by investment analysts at Keefe, Bruyette & Woods from $38.00 to $60.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price would suggest a potential downside of 8.09% from the stock’s current price.

Several other equities research analysts also recently commented on the stock. Barclays boosted their target price on shares of Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. JMP Securities increased their target price on shares of Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a research report on Thursday, February 13th. Sanford C. Bernstein lifted their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Mizuho increased their price objective on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, Morgan Stanley boosted their price objective on Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.53.

Robinhood Markets Stock Performance

Shares of HOOD stock opened at $65.28 on Tuesday. The stock has a 50 day simple moving average of $45.96 and a two-hundred day simple moving average of $32.92. The company has a market cap of $57.71 billion, a P/E ratio of 110.65, a PEG ratio of 0.73 and a beta of 2.13. Robinhood Markets has a fifty-two week low of $13.04 and a fifty-two week high of $66.91.

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

Insider Buying and Selling

In related news, Director Baiju Bhatt sold 90,866 shares of Robinhood Markets stock in a transaction on Friday, February 7th. The shares were sold at an average price of $55.34, for a total value of $5,028,524.44. Following the transaction, the director now directly owns 5,042 shares of the company’s stock, valued at $279,024.28. The trade was a 94.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $37.51, for a total transaction of $11,253,000.00. Following the sale, the insider now directly owns 806,955 shares of the company’s stock, valued at $30,268,882.05. The trade was a 27.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,948,427 shares of company stock worth $165,005,244 in the last 90 days. 19.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Robinhood Markets

Several hedge funds and other institutional investors have recently modified their holdings of HOOD. Creative Planning grew its stake in shares of Robinhood Markets by 34.6% in the third quarter. Creative Planning now owns 35,384 shares of the company’s stock worth $829,000 after purchasing an additional 9,094 shares during the last quarter. Vontobel Holding Ltd. grew its position in shares of Robinhood Markets by 32.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 28,125 shares of the company’s stock worth $659,000 after buying an additional 6,872 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Robinhood Markets by 183.6% during the third quarter. Blue Trust Inc. now owns 22,938 shares of the company’s stock valued at $521,000 after buying an additional 14,849 shares during the period. Raymond James & Associates raised its holdings in shares of Robinhood Markets by 76.6% during the third quarter. Raymond James & Associates now owns 99,278 shares of the company’s stock valued at $2,325,000 after acquiring an additional 43,075 shares in the last quarter. Finally, Castleview Partners LLC lifted its stake in Robinhood Markets by 18.2% in the third quarter. Castleview Partners LLC now owns 3,788 shares of the company’s stock worth $89,000 after acquiring an additional 582 shares during the period. 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.