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

Robinhood Markets (NASDAQ:HOOD) had its price objective raised by JMP Securities from $33.00 to $40.00 in a report published on Tuesday,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

A number of other equities analysts have also recently weighed in on HOOD. Piper Sandler lifted their price target on shares of Robinhood Markets from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. KeyCorp lifted their price target on shares of Robinhood Markets from $25.00 to $30.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. The Goldman Sachs Group cut their price objective on shares of Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Barclays boosted their price objective on shares of Robinhood Markets from $23.00 to $26.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Finally, Bank of America boosted their price objective on shares of Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $26.10.

Robinhood Markets Trading Down 0.8 %

Shares of Robinhood Markets stock traded down $0.27 during midday trading on Tuesday, reaching $31.95. The company had a trading volume of 5,051,891 shares, compared to its average volume of 15,932,691. The company has a market capitalization of $28.24 billion, a price-to-earnings ratio of 54.61, a price-to-earnings-growth ratio of 0.76 and a beta of 1.84. The stock has a fifty day simple moving average of $25.20 and a 200 day simple moving average of $22.19. Robinhood Markets has a 1-year low of $7.91 and a 1-year high of $34.32.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $660.53 million. During the same period in the prior year, the firm posted ($0.09) EPS. Robinhood Markets’s revenue was up 36.4% on a year-over-year basis. Sell-side analysts expect that Robinhood Markets will post 0.72 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In related news, CFO Jason Warnick sold 25,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $20.96, for a total value of $524,000.00. Following the transaction, the chief financial officer now owns 1,077,162 shares in the company, valued at approximately $22,577,315.52. This represents a 2.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $19.33, for a total transaction of $241,625.00. Following the completion of the transaction, the insider now owns 1,045,068 shares in the company, valued at approximately $20,201,164.44. This trade represents a 1.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,710,549 shares of company stock worth $115,477,194 in the last ninety days. Insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. 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 during the last quarter. FMR LLC grew its stake in Robinhood Markets by 31.3% in the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after buying an additional 3,368,118 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Robinhood Markets by 37.7% in the 2nd quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock valued at $173,770,000 after purchasing an additional 2,094,800 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Robinhood Markets by 33.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,581,465 shares of the company’s stock valued at $107,298,000 after purchasing an additional 1,137,677 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Robinhood Markets by 20.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,481,794 shares of the company’s stock valued at $104,964,000 after purchasing an additional 769,281 shares during the period. Institutional investors and hedge funds 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.